Posted by redd on 8/2/10 5:41pm
Msg #347334

Too Quiet

I'm getting nervous. Calls came in for 3 months on a weekly basis. Now it's been a week and no calls. Dead silence!!!

Reply by npross on 8/2/10 6:15pm
Msg #347342

Very busy for me

July was the BEST month in 2 years, here's what I've noticed. Signing agents that are flexible with fees, that work late and drive an extra mile or so, have the bulk of the work. think about it--not saying anything, or telling anyone how to run their business but that's the reality. I've knowed a signing agent or two on here who always complaining about low fees and how that person would NEVER work for a $XX, but They do, and they are the most booked SA in your/any area. Signing companies had to lower fees to compete with in-house signing services that Title companies have, such as Fidelity, First American, Placer, etc., so the more competition there is, the cheaper the service becomes. Some signing agents, don't adopt to the change and therefore have found that they don't do very well. Would you rather make $7K a month doing $75-$85 signings or make $4K doing the $100 signings. Id rather make $7K-$10K, and I've lowered my fees, which resulted in new, steady clients. I don't care if I under beat another SA's fee- I am the only one paying my mortgage, and will lower my fees to meet the competition. Also, I waive my fees if I make a mistake and if a file does not fund, and no funds are collected, I don't chase my client to death for the money, for I know that I will get more work from them.
Just a thought.

Reply by Ruby on 8/2/10 6:44pm
Msg #347351

Re: Very busy for me

I could be just as busy as you are, if I wanted to work for nothing.
We all have expenses and mortgages to make. All you are doing is giving away
your services and play right into ss and titles program. You dont respect yourself, how do you expect the companys that you work for to respect you. Just a thought

Reply by MW/VA on 8/3/10 9:09am
Msg #347406

I'm glad that way of doing business works for you. IMO it

is also a contributing factor that the rest of us are getting a lot of low-ball offers.
We're all aware that someone is willing to take those lower fees, but it is hurting the industry as a whole. I could get a lot more work if I was willing to undercut my competition. We all do what we have to do.

Reply by Gwen/FL on 8/2/10 6:59pm
Msg #347353

Same here in SW FL. Apr, May, June all good, but July needed a eulogy...don't have a clue.

Reply by 1lessday on 8/2/10 9:33pm
Msg #347367

Same here in big KY!!!

Reply by npross on 8/2/10 10:34pm
Msg #347375

Working for free? No way! $8K-$10K per month is hardy working for free. And not all my clients as Signing companies, I do work with title as well, but in my down time, I take work from SS as well.

Reply by GOLDGIRL/CA on 8/3/10 1:28am
Msg #347385

This is AWESOME!!!


<< $8K-$10K per month is hardy (sic) working for free.>>

Let's do the math: In this post, you indicate you are making up to $10K a month at $75-$85 a pop. Averaging this at $80 per signing means you do a minimum of four signings EVERY SINGLE DAY of the month. How can you ever have any "down time" with this schedule? Care to share some of your scheduling/printing/traveling/signing/dropping docs secrets?

Reply by Lee/AR on 8/3/10 7:45am
Msg #347396

I have a bridge for sale. n/m

Reply by Linda_H/FL on 8/3/10 8:33am
Msg #347398

I honestly didn't think ANYONE had that kind of volume

any more....wow

Reply by Bob_Chicago on 8/3/10 9:06am
Msg #347405

Re: I honestly didn't think ANYONE had that kind of volume

Well I still do, and at at somewhat higher per closing amount than "npross "
seems to be charging.
Not directed at you Linda, but what I DON"T do is sit on a high horse saying that I won't walk
out my door for less tha $xxx, and then give the hiring entitly a long list of rules and conditons.
Not like it was in the good old days of 35 - 50,$150 -$250 signings per week, but , I am still
making a nice living doing this.

Reply by Linda_H/FL on 8/3/10 10:59am
Msg #347414

Bob, I thought of you as I posted this..because we've

discussed this before...but you said the key words..."Well I still do, and at at somewhat higher per closing amount than "npross " seems to be charging."

I'd bet you're working half the time for the same income...smarter not harder...and I'd bet your profit margin is higher...

Reply by Stephanie_CA on 8/3/10 1:40pm
Msg #347438

Re: :)

I hear ya....

Reply by garland/CA on 8/3/10 10:22am
Msg #347411

that's 250 - 300 hours per month working hours...

even at $7000 per month, averaging $80/signing, that's 87.5 signings/month. Considering each signing takes about 3 hours (scheduling, printing, traveling, signing, shipping, invoicing), that is over 250 hours/month!

The only way that kind of volume can be done is to cut time spent on each signing - which means cutting corners. And that definitely decreases the quality of service performed.

Like Goldengirl, I'd like to know how/where you cut corners to manage that many hours. Have your signers come to you? Don't print a copy for the borrowers? Just put the stack of loan docs in front of signers and have them sign in 30 minutes?

Reply by ReneeK_MI on 8/3/10 5:51am
Msg #347391

Gross income means nothing - net profit is what I want. n/m

Reply by janCA on 8/3/10 11:40am
Msg #347420

Re: Gross income means nothing - net profit is what I want.

It's also hard to believe that someone would have been getting that type of volume in the past two years in AZ which was hit extremely hard by the foreclosure debacle. I just don't believe it.

Reply by MistarellaFL on 8/3/10 1:07pm
Msg #347432

I just don't believe it.

Me, neither.
The only NSA work I'm doing these days in hard-hit SW FL is purchases.
And not 4/day, either, even with all the marketing and RE contacts I have.
Maybe 4 a week, avg.
Some people seem to think that bolstering their numbers make them appear "better"
in some way than others.

Reply by MistarellaFL on 8/3/10 1:09pm
Msg #347433

Oops, forgot to mention mods. Still only max4 week for both. n/m

Reply by JanetK_CA on 8/3/10 3:54pm
Msg #347453

My thoughts exactly! n/m

Reply by npross on 8/3/10 9:44pm
Msg #347485

Working hard and working smart!

I had a few private messages in my inbox and I totally agree with 2 people that messaged me. If you invest in a good printer, print a few docs the night before, you would be off to do 5-6 deals a day.
Good printer will get docs printed for you in 5-10 minutes and cost about $5-$10 per set if not less.
And TRUST me, I do NOT spend 3 hours on a signing. My borrowers sign in 30-60 minutes. And YES, I did invest in more than one printer, I have 3 quality/fast printers, I buy paper from Costco and toner online.
Yes, there will be one or two a month that will take a bit longer, but average is about 45 minutes.
You just have to know how to explain and sign a set of docs (Note 1st, Hud 2nd ) and when they are signing, just give a brief explanation of what each document is. And when they are done, I always go over docs to make sure everything is dated, signed, initialed and notarized. I haven't made a mistake in over a year. And most of the time, while docs are printing, I'll get the FedEX or UPS slip filled out and ready to go, clipped with docs. Most people have refinanced a few times, and no one wants to spend a lot of time on reading docs:
Everyone here is so afraid to talk about their fees.--But face it, if you are in an area with lots of SA, most all are charging $85 for e-docs and $65 for overnight. The only exception is if you have 1-5 other SA in a 50 mile area then you can price fix your fees:
Hey, I agree with all, fees should be higher, they should be higher than they were 2 years ago, but they are not. I want to be able to charge $125-$200 per signing ALL the time, but I got to understand that there are 20 other SA providing the same service.
Its like having a 20 different little boutique shops, all offering the same service/same items...the shop that will make it is the one who can sell same item/service just a bit under what everyone else is selling.

And when I am at driving to a signing and happen to pass a title company, I stop the car, go in and pass out my business cards. I don't just sit and wait for business to come in. I call signing companies and speak to managers and get on their lists.
I send "Thank YOU" cards all the time and I send "Thinking of YOU" cards to clients I haven't heard in a while, and at Christmas time, I send little gifts--The little things will make people remember you.
So many SA are so afraid to spend money on marketing materials, but hey the "Thank YOU" cards don't cost much. Just think of how many more deals you can all get if you did a simple thing as sending someone a personalized "Thank You" card.
Or if you work a lot with a client, find out their Birthday, and send a Card, or even call on the day to wish a "Happy Birthday"
Anyways, gotta run, loan docs are done printing.

Friday- 6 signings, Saturday 4, Sunday 1, Monday 5, Tuesday 3. Already have 2 for tomorrow and 1 for Friday.--So, yes I work a lot, and I DO work SMART!!

Good Luck!

Reply by ReneeK_MI on 8/4/10 4:57am
Msg #347505

still a husband & wife team?

I don't doubt that the volume is possible - in fact, I know it is, particularly at the lower fees. AZ would be ripe for REO's and just a couple of good hook-ups into the 'mills' would make this quite feasible.

Still ... If you're combining the numbers of two people - and previously you've said you were a husband & wife team - then that's pretty misleading, and I'm not sure why you'd do that? Perhaps you're no longer working as a team, or you're only representing your 'half' of the take?

Your comment on price fixing must've been intended as tongue-in-cheek, surely you're not seriously suggesting this.

Reply by BrendaTx on 8/4/10 7:09am
Msg #347510

Re: still a husband & wife team?

My favorite part, Renee', is, "I haven't made a mistake in over a year."

Woo hoo! In over a year! LOL. Now, that's funny.