Posted by John Schenk on 2/1/10 9:45pm
Msg #320651

NATIONS DIRECT...SET YOUR FEE, CHARGE IT...

and don't take it if they don't meet it.

They attempt to make money off of every notary, to an extent beyond what anyone else does. We KNOW that TCs and SSs will make some money off us us, which is HEALTHY and it's Fine that they do so. Nations Direct wants to make far more off your signing than YOU, as the signing agent, even get to make to travel, print, and close a loan. I've done a couple for them here, but I don't have the competition you guys do in your areas. I'm certainly a last choice for them. Doesn't have to be price fixing, but a little solidarity would increase our fees, or at least folks setting a minimum for their mobile notary services. They cheapen our services.

Folks taking a signing for $50????? $50????...I don't think that cheapens our fees, that's the result of an insane idiot that lost their azz on a closing, even at McDonald's rates. A clown couldn't print out docs and do that closing and make money for $50.

JJ

Reply by John Schenk on 2/1/10 9:48pm
Msg #320653

Newbies...check for a decent fee in your area...

Even if you are just beginning, you ruin the profession you are trying to join by charging a low cut fee. The best thing to do is research, and learn, before accepting a signing so that you can charge a decent fee. You'll earn that fee, and be ready to go forward, and help us maintain some minimums in our profession.

JJ

Reply by Bonnie Frederikson on 2/1/10 10:32pm
Msg #320659

Newbies, listen to this man! . n/m

Reply by TRG_wy on 2/2/10 6:57am
Msg #320693

Re: Newbies...check for a decent fee in your area...

"Even if you are just beginning, you ruin the profession you are trying to join by charging a low cut fee. The best thing to do is research, and learn, before accepting a signing so that you can charge a decent fee. You'll earn that fee, and be ready to go forward, and help us maintain some minimums in our profession. "

John I agree with you 100% here and also your post on Nation's Direct. The only issue I have is that over the past ten years I have noticed that everytime a newbie comes in and asks about what is a fair and reasonable fee to charge they get blasted and told to build a business plan and charge what they can get. No real idea of what to charge for services is a huge reason the low ball fee has become what it is today. Ten years ago $150 was pretty much the norm and the docs were overnited 99% of the time. Today is seems to be $50 and maybe $25 for edocs - what a joke. The fee paid by the borrower hasn't gone down, it is the middle-man reaping our fee.

I need a refresh on my coffee please

Reply by CopperheadVA on 2/2/10 7:11am
Msg #320697

Re: Newbies...check for a decent fee in your area...

<< The only issue I have is that over the past ten years I have noticed that everytime a newbie comes in and asks about what is a fair and reasonable fee to charge they get blasted and told to build a business plan and charge what they can get. No real idea of what to charge for services is a huge reason the low ball fee has become what it is today. >>

TRG, I agree with you completely. When I started in this biz five years ago, I charged what I *happened* to find out (due to a fluke meeting) what a competitor in my area was charging, which was $125. As a newbie, I charged that much, too, and got it all day long. A year later I raised my fee to $150 and had no problem getting it. Things have slowed for now and I will negotiate my fee depending upon the job, but these are still the range of fees that I charge and I do still get these fees. I have one national client that I give a 20% price break to because they send me volume and keep me in my home zip code, but that discount does not extend to the SS that calls me once a year.

Reply by Yowheelz on 2/2/10 8:18am
Msg #320702

Here's what ND told me about their low fees.

We pay less so that we can give you more work.
We need to keep our lights on.

If this makes sense to you than continue collecting $50 fees

Reply by TRG_wy on 2/2/10 9:37am
Msg #320717

Re: Here's what ND told me about their low fees.

Yep, and I need to keep my lights on too. That being said, it can't be done on $50 closings. Not even with so-called volume.

Speaking of volume, in order to truly be considered "volume" it would have to be multiple times a week, not maybe once a month.

Reply by Linda_H/FL on 2/2/10 10:32am
Msg #320734

No...it still doesn't work....

"to truly be considered "volume" it would have to be multiple times a week, not maybe once a month"

Volume at $50/signing doesn't make ANYTHING up - all it results in is Volume Loss for the notary....they may give more work but each assignment is still costing the notary the same expenses to get done, resulting in a loss, not a profit, each and every time - increasing the negative bottom line....

Reply by CaliNotary on 2/2/10 12:41pm
Msg #320772

Re: No...it still doesn't work....

The only way volume pricing could possibly work in this industry is if a company gives you back to back to back appointments within a very confined geographic area. Eliminating a good portion of your travel expense could be justification for a discount. But beyond that, no way.

Reply by Moneyman/TX on 2/2/10 10:13am
Msg #320728

Re: Newbies...check for a decent fee in your area...

Well said!

Reply by Notarysigner on 2/2/10 9:42am
Msg #320721

Got offered a whopping $60.00 to do a signing in downtown San Francisco....Aaah 4 dollar bridge toll, $20.00/hr parking. 1/2 ream paper, toner, gas, hourly rate.....yep -$45.00 profit.

Reply by LisaWI on 2/2/10 9:46am
Msg #320723

Isnt Nations Direct an arm of a title company??

Reply by janCA on 2/2/10 10:17am
Msg #320731

Here's what gets my blood boiling.

When I hear the "well, in your area, the standard fee is blah, blah, blah," I really want to reach through that telephone line and grab the caller's neck. I simply state "$xxx is my standard fee" but I'm sure you'll find someone to accept "THAT" fee. It just makes me crazy!

Reply by Kay/IL on 2/2/10 12:12pm
Msg #320761

And they will NOT reimburse you for tolls and parking. That is one of the many reasons why I gave them a swift, hard kick to the curb.

This is why I'm so grateful for sites like this. If it was not for the helpful and candid discussions about the notary business, I'd still be working for places like Nations Direct.

Thanks again!

Reply by Moneyman/TX on 2/2/10 10:14am
Msg #320729

After reading this check post Msg #320673 n/m