Posted by Gregory Howard on 8/11/09 8:52pm
Msg #299567

Pay option

I have a question on what everybody is charging for there services. I am new to been an notary and I think I am been used. Thanks for all your help.

Reply by Michelle/AL on 8/11/09 9:04pm
Msg #299569

Let's make it easy. Tell us what you are being paid for your loan closings. I'll be more than willing to tell you if you should raise or lower your fees.

Some signing agents post their fees in their profiles here on NotaryRotary so you may start by checking a few profiles for people in your area. In addition, message thread #33325 is considered the "newbie" thread. I'm pretty sure you'll find several posts about how to arrive at a fair fee to charge.

Personally, I'd rather not post my fees here in the forum. Competition is heating up. If I say I charge $75 for a loan closing then my competition can charge $65 and I stand to lose a customer. If your "gut" is telling you that you are *being* used then you probably are.

Reply by Frenchie/TN on 8/11/09 9:08pm
Msg #299570

I don't usually post negative posts but your grammar is appalling. I don't think anyone on this board could take you seriously as a notary based on your post. FYI it should be "their services", "I am new to being", "I am being used". As a professional person it is most important to speak and write properly.

Reply by MW/VA on 8/11/09 9:33pm
Msg #299573

You might also check a recent post, #299527, "What cheap labor will get you".
Someone new to the business needs to know how to set fees, but they also have to be worth the fee they're charging for their services.

Reply by Karen Barnett on 8/12/09 2:32am
Msg #299581

For a complete loan sigining package I wouldn't accept an asssigment for less then 75.00

Reply by ME/NJ on 8/12/09 5:50am
Msg #299584

75-- cheap labor n/m

Reply by CopperheadVA on 8/12/09 1:05pm
Msg #299611

I charge a lot more than that - of course it also depends upon your geographical area, but $75 is well below my minimum accepted fee.

Reply by GA/Atty on 8/12/09 6:51am
Msg #299588

$90 - $135 n/m

Reply by parkerc/ME on 8/12/09 9:53am
Msg #299597

Too many variables. Total you charge would be the value of the time you spend at the table (1-2 hrs maybe) + your mileage rate (check what IRS allows for business) + at least $25 print fee if e-docs. Even all of that is contingent on the size of the package, whether it's a mod (lately are few), piggyback, reverse mortgage, etc., etc. Agree with previous post re your spelling. This may just be a forum for notaries, but is visible to all who visit this site . .not only notaries/SA's, but title companies and signing services. Occasional typos happen, but when your entire post is hard to understand because of spelling/grammatical errors . . . . . nuff said.

Reply by Regal/NC on 8/12/09 10:31am
Msg #299603

Profit or Non-Profit

Are you in business to make money? If so then research the industry and structure yourself according to you local demographics. In my local area encompassing a 25 mile radius, I can command a fee range of $100 to $250 depending on what variables apply.

Good luck in your endeavors!!

Reply by PAW on 8/12/09 12:48pm
Msg #299609

Even "Not for profit" organizations ...

... can recover their expenses.

Reply by MW/VA on 8/12/09 1:40pm
Msg #299616

I hope you can handle the criticism of your grammar & spelling. Good communciation skills are essential in this business, like many others. It may be a key to being able to negotiate a decent fee.
I can site an example--a notary in an area not far from mine posts is his profile "good whit people, can handle perches closings, etc." I can tell you that I would never hire such a person, and have heard some really negative things about the ability of this person to complete the task. Good luck.

Reply by Keystone_SA on 8/12/09 1:53pm
Msg #299618

OMG, that's so funny, but so sad.... My husband is a terrible speller, but very intelligent. I will not let him send any emails, etc., unless I have checked his spelling because I don't know how many times he puts "principal" when he means "principle" or "herd" when he means "heard"....

Reply by MW/VA on 8/12/09 1:59pm
Msg #299620

Also, some people don't type well or aren't very computer literate. There is a fantastic new device that allows you to speak all computer commands & it's amazingly fast & totally accurate on spelling.
Sorry, the name escapes me at the moment.

Reply by Keystone_SA on 8/12/09 2:01pm
Msg #299621

Are you referring to the "Dragon" program? If so, a friend of mine purchased it and loved it.

Reply by MW/VA on 8/12/09 2:48pm
Msg #299630

That's it. I saw it on a home shopping channel. From what I saw, it is available w/a headset or bluetooth connections (bluetooth higher priced). Isn't technology amazing!

Reply by jba/fl on 8/12/09 10:13pm
Msg #299675

MW/VA - I hope you can as well: "I can site an example"

Does that mean you situate or place the example or speak and write (cite) the example?
Along with advice/advise, loose/lose, principle/principal, to/too/, this is another that bugs the daylights out of me.

Reply by JanetK_CA on 8/13/09 3:26am
Msg #299683

And we also should not lose "sight" of what web "sites" we cite for info... I forgot about the "cite" version, but I frequently see "site" instead of "sight" these days.

I used to figuratively cluck my tongue at seeing mistakes like that so often, until I caught myself doing the same thing when I was typing too fast (or trying...) The key is to reread posts and try to edit carefully. Some mistakes are bound to happen, but proofreading is a good idea.

Reply by MW/VA on 8/13/09 9:05am
Msg #299708

Thanks for the correction, Julianne. I'm as guilty as anyone else of "flying fingers".

Reply by JanetK_CA on 8/13/09 3:36am
Msg #299685

Also read message # 171763

I happened to be cleaning out some old files this weekend and just came across a post that I had made a copy of a couple of years back so I could show it to all the people I was meeting at that time who wanted to make easy money doing what I do...

It was post # 171763, by Sharon Taylor from your state. She gives perhaps the most comprehensive detailing of what expenses need to be considered by an NSA when setting fees. As others have said, we each have different variables to consider, but one thing most of us have in common is that we are doing this as a business with the intention of making a profit, not simply as a public service. This is a topic that has been discussed at some length here numerous times. There is abundant information here for the taking. Some have even suggested going back to the first message and reading everything (except the threads that have obviously gone haywire, become personal gripe fests, etc.) You will learn more than you could in any class!

Reply by tonya/AL on 8/13/09 7:59am
Msg #299694

Re: Also read message # 171763

{Some have even suggested going back to the first message and reading everything (except the threads that have obviously gone haywire, become personal gripe fests, etc.) You will learn more than you could in any class!}

That is exactly what I did when I found Notary Rotary. I couldn't believe the wealth of information provided in this forum and have learned so much from everyone's experiences. Some of the information may not apply directly to me in my state but I learned something new anyway. I hope to never encounter some of the horror stories told here; but at least if I do come across belligerent borrowers, unruly children or rude individuals at least I feel a little more confident that someone else has "been there, done that" and survived!

"Thank you" to ALL the posters of this forum.