Posted by SANDRA FREEMAN on 7/28/09 9:10am
Msg #297629

FULL TIME NOTARY

Question for all full time notary: I was laid off back in May in Iam now doing siging full time. I trying to decide if I should go back to a 9-5 or should I do signing full time. How much can a notary make in 1month.

Reply by sue_pa on 7/28/09 9:13am
Msg #297631

I'm guessing you need 9-5. If you've been laid off since May and want to be a fulltime notary, you should have this answer for yourself already. Since May, have you worked 40 hours a week?

Reply by Linda_H/FL on 7/28/09 12:26pm
Msg #297721

Re: FULL TIME NOTARY...Sue's response to you was

far from rude - on the contrary it was spot on - you've been laid off for 4 months...have you had 40 hours a week of notary work for the last 4 months? Therein lies your answer as to whether you can do this full time or need 9-5...

Reply by Cynthia_CT on 7/28/09 9:17am
Msg #297633

FULL TIME NOTARY

It is important to remember that as a full time notary you are responsible for all your expenses. This would include your benefits, 401K planning and non-paid vacations. I Agree with the prior response this is a decision you need to make for yourself based on your current finances.

Reply by MW/VA on 7/28/09 9:29am
Msg #297638

The important part you need to remember about this business is that it is NOT a steady paycheck.
We are all at the mercy of whether the phone rings or not. After 4 years, my business is fairly steady, but that can change at a moment's notice. You might use the orange search button, and check out the posts recently on EOM. Many notaries are getting few, if any, calls.

Reply by SANDRA FREEMAN on 7/28/09 9:52am
Msg #297642

I was previousy employed for 15yr in i recd a great package, and I have my 401k money & I am collection unempolyment now, so Iam not hurting right now. Also I have a interview with a large bank in Chicago. I just want to know how much do a full time notary receive in 1 month, to see if it worth it. I was doing siging part time. Why, when some one ask a question on this site, you always get some rude comment.

Reply by Stamper_WI on 7/28/09 10:00am
Msg #297651

I don't see the rude. I see realistic. The point being made is that is is not a guranteed set income, even when you have earned it. Sometimes you have to chase payment. There of periods of low activity. My income fluctuates wildly at times depending on the availability of loans to borrowers. There are great threads you can find on "search". Like any other business, you have to evaluate your particular market and also your competition. You are not working for someone else. This work does not provide you with that safety cushion. Your clients are working for a salary or hourly wage. If the loan does not fund, many will still not pay you.
You need to decide who to work for and hopefully it will be those who do honor your agreements of fee for service.

Reply by MW/VA on 7/28/09 10:01am
Msg #297652

I don't understand what you consider rude. IMO it's not possible to come up with an exact figure of what the potential earnings are. There are too many variables & it really depends on the area.
There is a notary that posts here from Chicago who does very well. He has been at it a long time & is in a good market.

Reply by Les_CO on 7/28/09 10:01am
Msg #297653

Because you ask a question that has NO answer!

You may want to PM Chicago Bob that posts on this board from time to time. He’s a very good, experienced, Notary Signing Agent that has been doing this a long time….at least he’s in your general area.

Reply by Linda Juenger on 7/28/09 10:15am
Msg #297660

Sorry, but I think the question is very rude. Its like walking up to someone on the street and asking them how much they make in a month. And, if they get an answer that is good for them, they then become their competition and take work away from them. Maybe I'm missing something, but this is my observation from the post.

Reply by jojo_MN on 7/28/09 10:14am
Msg #297658

I actually don't see any rude comments posted here. This is not a "get rich quick" profession. Many people read these posts thinking "wow! I can charge $125 for a loan signing".

What they don't realize is that if you are full-time, (or part-time), you have to pay self-employment taxes, regular taxes to state and fed., printing (toner, paper, printer, binder clips, envelopes, etc.), gas for your car (at $2.50+ per gallon, eats profits quickly), plus all of the other basics. Office space, heating, electricity, escalated phone service (fax, land-line, and higher minutes cell phones). Unless you are married to someone that has insurance, you will need to provide your own or pray you don't get sick or injured.

The list is very long. You might take in $54,000 in receipts, but end up with only $12000 on your tax return as income. Now is not the time to be starting out as a ful-time notary signing agent IMHO. There are many of us that have been full time for years that are barely making ends meet.

I wish you luck in whatever you decide.

Reply by Jess/CT on 7/28/09 10:26am
Msg #297667

It's hard for someone else to determine what you can make in a month.
If you are doing this part time already, then contact the companies that you have a relationship with and let them know that you're available full time and would like more work from them. You can then determine if you are getting enough work to continue this full or part time.

Good Luck!

Reply by PA_Notary_II on 7/28/09 10:31am
Msg #297674

Dearest Sandra...

I ascribe to the NNA notion that $125k per year is the norm. Nearly everyone who calls me offers more than I normally charge and I happily accept their offer of expanded fees. Supplies seem to be endlessly on sale and when I can get legal paper for $10.00 per case, I stock up...fer sure. While gas in my area is a tad expensive, I try to compensate by grocery shopping between closings. Sometimes it's difficult when I have 10 or more closings per day, but it works out. Oh, and don't forget to keep your coupons in the car. I'm sure with your experience and no how, you can make a cushy living at this and someday have time to spread your experience around by helping some of the less talented on this board. So I say "go for it" you'll be in high grass in no time at all. Have a super, wonderful happy face day.

Reply by PA_Notary_II on 7/28/09 10:35am
Msg #297675

oh-oh

Before some gentle person berates me, I should have spelled it "know how". Thanks for all your kind thoughts.

Reply by Les_CO on 7/28/09 10:42am
Msg #297682

Re: oh-oh

I, for one, loved your post! I wish I'd have said it! (spelling and all!)

Reply by Joanne Rezzino on 7/28/09 10:44am
Msg #297683

Re: Dearest Sandra...

I just want to know where you get legal paper for $10 a case???

Reply by jojo_MN on 7/28/09 11:07am
Msg #297695

Also, how many reams in the case? 10 or 5? n/m

Reply by PA_Notary_II on 7/28/09 11:09am
Msg #297696

Check Websters under 'facetious' n/m

Reply by parkerc/ME on 7/28/09 12:00pm
Msg #297713

Re: Dearest Sandra...ROTFLMAO!!!! n/m

Reply by jojo_MN on 7/28/09 10:39am
Msg #297679

Out of curiosity, how is this fiting in with your UE? n/m

Reply by Roger_OH on 7/28/09 11:52am
Msg #297712

Right JoJo, I'm sure the state of Illinois...

wants to ensure her unemployment benefits are being adjusted to meet the notary income I'm sure she's reporting to them every week.

Reply by mwm143 on 7/28/09 12:00pm
Msg #297714

Ahhh...good question. It's a no-no if the $$ is not being

reported to the County ESC.

Reply by notaryinmo on 7/28/09 12:29pm
Msg #297722

Where are the rude comments? Your questions are being answered in the best possible light. As a notary, if you want to perform signings on a full time basis, it is up to YOU to market yourself, like so many others have done. No one will do your marketing for you, just like no one will perform your work for you. The amount of marketing you do, the kind of marketing you do and the amount of time you spend marketing should get you some business, if you're serious about it.

Reply by Les_CO on 7/28/09 10:25am
Msg #297666

According to the the NNA between $10,000 and $12,000 a month. Be sure you sign up with them and take all their courses...don't forget their BGC.

Reply by MW/VA on 7/28/09 11:14am
Msg #297697

We all know why we get our backs up on this kind of question. I was in contact this week with a notary in my area that is in a similar situation. She is laid off from work, and decided to go full-time.
She's only been in this business since January (NNA, of course). Based on their claims, she's expecting to do 3 signings a day--no way that's going to happen. She might get 4-5 week. I wonder if anyone ever considered a Class Action against XYZ for misleading them. It's a d#$mmed to see people giving them their money in this economy. The more I hear the more determined I am that they will never get another dime from me.

Reply by Frank/NC on 7/28/09 10:29am
Msg #297670

I really don't think it is a rude question. It comes from someone who is new to this business and doesn't know all the issues we deal with.
This happens to be an almost totally unpredictable business that depends on so many factors such as interest rates, area factors, politics, etc.
I think that if you are entering this field, you should know that it takes 3-4 years to establish yourself with some steady customers who will rely on you for their closings. I think it also takes about that amount of time before you really feel comfortable dealing with the number of issues that arise with closings and believe me, there are many. The amount of money you make is unpredictable along with many other unknowns in this field.

Reply by CH2inCA on 7/28/09 10:35am
Msg #297676

Sandra
I think what others are making 'at this point' is sort of irrelevent. You've been doing this full time since May? Let me ask you; your own question...How much have you made per month since May?
I'll give it to you straight. I'm new and have a long time to get this going. But since April I have invoiced about two grand. I've received about 200.00 in payment!! Whoo Hoo!! C'mon power company, insurance (car, home, business), ....I'm headed out right now to fill up my car and by cases and cases of paper...
Ok now I'm getting facetious..
My point is you have your own answer.

Reply by BrendaTx on 7/28/09 10:47am
Msg #297689

Good realistic answer, CH2inCA.

*I'll give it to you straight. I'm new and have a long time to get this going. But since April I have invoiced about two grand. I've received about 200.00 in payment!! *

Reply by SANDRA FREEMAN on 7/28/09 12:15pm
Msg #297719

Thanks to all the replys to my question. I was referring to the 1st response that I though was rather rude. But to the other kind responses I really appreciate. I was formally a Sr. Foreclosure specialist and I did not want to go back to that stressful job and thats why I wanted to know the average amount I coud expect each month, not to get in everyones business. I like this website & the QA that I become to rely on, because they are helpful. So if I offend anyone I am sorry. Thanks for the responses I really appreaciate them.

Reply by Linda_H/FL on 7/28/09 12:30pm
Msg #297723

See my response above - which should have been here..<G> n/m

Reply by Dorothy_MI on 7/28/09 1:34pm
Msg #297732

Every job has it's own stress level

What might be comfortable for me, might not be comfortable for you. Then there are all the other factors to consider; i.e. health insurance, need for a steady income, other benefits. If you think a 9 - 5 job is stressful, try being self employed and not having the phone ring, while ALL of your expenses go on (well, maybe with the exception of gasoline, cause if you're not driving to an assignment you won't have that expense or paper or toner, but all the rest of them are FIXED expenses. That means those expenses have to be paid if you're rolling in assignments or you're going a week or more at a time without the phone ringing. This job is not for someone who likes a structured life style. Let me give you an example; last night (did not have anything on the books) at 5:30 I go to the kitchen to start dinner. Phone rings, can I be in Ann Arbor (1 hour away) beween 6:30 and 8:30? Yes, I can, but this is my fee-------. Let me get that approved. While I'm still wondering what to make for dinner, phone rings, "if you still available I got that fee approved and docs are ready and will be right over". Long story short, I fixed dinner (not my original menu, but one of Dotti's 25 minute meals), printed docs, got my "business" clothes on, drove one hour and got there at 8:15. Friday night I had one for 9 pm (45 minutes away). Borrower had problems with amount to bring to table. Pushed time back to 10 pm. Problems at the table -- got home after midnight! It is really hard to have a personal or social life in this business unless you're independently wealthy and can afford to turn down work. At this point ALL of my friends know that all social plans are tentative and go in my planner in pencil! Can you live with that stress better than the kind that comes to you between 9 - 5 and you put on your coat and go home leaving those problems for tomorrow?

PS. you can always take the 9 - 5 and do this part time. Just a suggestion.

Reply by jojo_MN on 7/28/09 1:38pm
Msg #297733

Re: Every job has it's own stress level

Yes, don't ever plan anything. Every time I did in the last two months, the phone would ring right before the planned event. Work won out every time. Those times are when the 9-5 really looks good!

Reply by Linda_H/FL on 7/28/09 1:43pm
Msg #297734

Great Post, Dorothy... n/m

Reply by JanetK_CA on 7/28/09 1:47pm
Msg #297735

Sandra, if you read between the lines, the point many were trying to communicate is that you are really asking the wrong question in your original post. What you need to know is not how much money "a notary" could make, but how much could YOU expect to make in a month on average, and as many tried to explain, that will depend on numerous variables, some of which you can control and some you can't. And only you know what you WILL.

And the reason I said "on average" is that this business is also cyclical (with regional variances). Things tend to slow down over the holidays and get busier during spring and summer months in most areas - and are also heavily influenced by the economy, locally and nationally, interest rate changes, etc. So this is never going to be like a job where the money flows in at a steady rate - at least not for a good number of years for the vast majority.

If your thinking is more that of an employee rather than a business owner (and your question reflects the former attitude), you will likely be much better off at a 9-5. And as for the post you thought was rude... you were fortunate enough to get a response from one of the most experienced and most successful people on this board. Sue_pa really knows this business and tells it like it is, so if I were you, I'd take her comments to heart, be grateful for insight from a real pro (for free, I might add...), and not worry about niceties. Those won't help you survive, but a thick skin might!

Reply by sue_pa on 7/28/09 8:40pm
Msg #297796

whether or not you thought it was rude, if you can't comprehend what was said (without me spelling it out ... and I'm not about to do what for anyone) , I was right and 9-5 is where you should be headed.

Whoever said there are no stupid questions has a different mind set than I do. Asking the most generic of questions like this regarding running a business completely baffles me. I'd like to start to shine shoes for a living ... how many do you all think I can do a week? I'm not telling you whether I'm willing to work 2 hours a day or 10 hours a day, I'm not telling you whether I'm going to set up shop on a country road or the square in Chicago, I'm not telling you whether I even know how to shine a shoe or if I must start from square one ... just throw some numbers at me, please.