Posted by Craig Evans on 9/1/08 2:45pm
Msg #262879

Fees

I am just getting started as a Notary. I have no idea how to price my services. I livein rural Wyoming, so travel will probably always be an issue. Anyone who could give me a little insight on what the rule of thumb on pricing is I would be grateful.

Reply by RickinVA on 9/1/08 3:06pm
Msg #262881

You may not be happy with this answer, but it will be more to point than some others you
may get: You will have to add the amounts that it costs you to the amount you want or need to
make a living. (You DO know what it will cost to do your job, right?) I sincerely hope you are not
planning to do this full time, unless you have a LOT of very good contacts. Business in my rural mid-east area is off 60+%. I can't imagine it's any better in Wyoming!

Rick

Reply by LKT/CA on 9/1/08 3:10pm
Msg #262882

I suggest you complete your profile by adding info in the "Comments" section. Use the orange search button and look up message 33325. After reading that one, read all the posts in that thread. Know your state's handbook backwards and forwards.

Reply by Lee/AR on 9/1/08 3:11pm
Msg #262883

General very broad consensus (with much variation depending upon ???) is that a loan signing takes 3 hours from receipt of docs to shipping 'em out. Now add the mileage & drive time. Get out your calculator & figure your expenses, taxes, paper, toner, gas, cell, internet, equipment, yada, yada--and add your profit. This, of course, is over-simplified, but it's something everyone just has to do for themself in order to have as accurate an estimate as lack of experience allows. And, yes, you are correct when you say that 'travel' will be an issue.

Reply by 1st_up on 9/1/08 8:59pm
Msg #262899

you should complete a profile of yourself.

Reply by Linda_H/FL on 9/1/08 4:53pm
Msg #262890

Craig, you don't say whether you're going to be doing

strictly general notary work or if you intend to conduct loan signings. If it's just general notary work, the allowed fees should be outlined in your state handbook along with whether you're allowed to charge a travel fee or not. That's what you base your general notary fees on.

As for loan signings, only you can determine that - as others have said, your time, your expenses involved, your area, etc., etc..if you're rural like I am, your fees will be a bit higher because travel is always a major factor impacting the fees you charge. Also, click the "Find a Notary" tab up above and search your zip code - you'll have an idea of what your competition is just on this website.

Absolutely read 33325 along with other messages - use the search button and search "fees",
"minimum fees", "signing fees"...etc. That's of course if you intend to do loan signings - and the advice is correct - the market is very slow so don't expect loan signings to pay your bills or put food on your table.

Good Luck with whatever you do!!

Reply by Sharon Taylor on 9/1/08 7:59pm
Msg #262896

Follow Lee's and Linda's advice - you are a BUSINESS

Every good business takes into account every single expense that can be considered a business expense. Notary travel not only takes gas, but it also adds miles to your vehicle components which will wear out quicker and need replacement or repair more often, i.e. tires. Your vehicle will depreciate faster because you are driving more than the typical miles an average person would put on a car in a year. Those are business expenses directly attributable to your notary BUSINESS. Good luck.

Reply by GA/Atty on 9/1/08 7:48pm
Msg #262894

For loan signings, $110 - $290, depending on travel. n/m

Reply by LynnNC on 9/2/08 10:29am
Msg #262919

I am confused...your profile name is "Tanya Evans"...

are you Craig or Tanya?