Posted by John_NorCal on 1/23/10 12:01pm
Msg #319224

Sense of worth

Reading through the post below from that idiot Fairfax/CA points out the glaring lack of self worth that I have seen from so many signing agents. Granted this jerk is a nutcase with no guts to show his face, he hides behind his unlinked anoyminity, but his posts gives a glimpse into the operating mentality of many of these signing services. As long as there are signing agents who will take their paltry fees, you will have these "services" who survive off their backs.

Remember you are, or should be, independent business people. You should be setting your fees and sticking to it. If you cannot get the fees that are necessary to provide for today and just as importantly provide for tomorrow, then maybe you should explore other ways to make a living.

Keep a good set of books and account for all of your expenses, your replacement of equipment, and your expectation of a reasonable salary to pay yourself. And make it part of your plan provide yourself with the other necessities of life such as retirement planning and health care. Then if what is offered to you does not meet those expectations, then say "thanks but no thanks." Send the message out that you will not work for nothing.

Signing is practically non existent in my business today. I get the fees that I need from bookkeeping, tax preparation and IRS representation. I quote my hourly fee and if the person agrees then we do business, if they don't agree and would rather get some one advertising on Craigslist, then so be it. I don't waste my time with Momo's. (No I didn't get that from Becca!)

Reply by John_NorCal on 1/23/10 12:03pm
Msg #319225

P.S. I finally figured out an emoticon! :) n/m

Reply by Lee/AR on 1/23/10 12:22pm
Msg #319226

Re: Sense of worth....& profit!

What appalls me is the person who thinks they are augmenting their 9-5 income by taking non-profitable fees because "it's extra money". When you are using your 9-5 income to support 'the extra money', you're only fooling yourself and contributing YOUR PROFIT to a bank! Think about that for a moment, please. That loan you just had signed will make that bank one heckuva lot of money/profit (read the TIL to see just how much), then ask yourself how much their PROFIT is diminished by paying you a decent fee for your labor, equipment, taxes, expenses, etc.? Get the picture?

Reply by MW/VA on 1/23/10 12:26pm
Msg #319229

It's hard enough for us who are in this business to make a decent fee when we're at the bottom of the food chain. Closing costs are still high, and they balk at paying the little notary $100 bucks. We should be getting $150-$200 routinely, but the market just isn't there. What we actually make shows up on the Schedule C. Tax time is always a reality check.

Reply by LKT/CA on 1/23/10 2:30pm
Msg #319258

<<<We should be getting $150-$200 routinely, but the market just isn't there.>>>

Here's my experience: Yes, the market IS there. The borrowers are still charged $200+ for Notary signing fees. I work with a few SSs still (four to be exact) that I worked with when I first became a Notary but the majority of my clients are TCs and Escrow Companies. I charge $150 and up and they pay it - no sighs, no "I need to get that approved", no blinking, no hesitation, no inflection in voice or attitude, no shopping around - they pay it without a hitch. Once, I charged two different TCs $125 and they told me to raise the fees to $150 (I kid you not). One signing I completed a few months ago, the Escrow company had it's own invoice for me to fill out - they paid by the notarization plus travel - there were 18 notarizations. The market IS there if Notaries are willing to charge a professional fee and turn down anything less. The jackal who posted Fairfax's sentiments probably spoke for many other SSs (evidenced by their low offers and deadbeat operations) but I'm not seeing that same sentiment from TCs or Escrow companies directly. Not in my experience.

Personally, I continue to work with the SSs I've established a relationship with and do not take on any new SS clients. Any new clients will be TCs or Escrow Companies - state regulated entities that must have incorporation, licenses, bonds, insurance, and RESERVES in order to operate. I believe many Notaries think they won't have work if they charge $125+ to SSs. They are afraid of losing the signing to the next Notary. I have bills and two teenage mouths to feed. Therefore, I cannot afford to work for free or lowball fees that take up my time, use up my supplies, and have no profit.

We as Notaries should not say or think the market is not there to pay a professional fee. YES, IT IS!! JMHO

Reply by Marian_in_CA on 1/23/10 2:47pm
Msg #319259

"Any new clients will be TCs or Escrow Companies - state regulated entities that must have incorporation, licenses, bonds, insurance, and RESERVES in order to operate."


This is EXACTLY why I've stopped taking work from Signing services as of late. Everyone complains about the low ball offers from services, but the simple way to fix this is to just NOT take work from them. Don't answer their calls. TC and Escrow companies won't hire signing services if they can't get the work done.

I've never been able to get more than $135 from a signing service - ever. Yet, direct work pays AT LEAST that much, and usually much more as Lisa stated.

Reply by SheilaSJCA on 1/23/10 6:19pm
Msg #319290

I agree with Lisa, the good fees are still out there. I choose not to work with any SS that does not pay at least $125 for a standard closing. It is my choice, and it allows me to the freedom to choose whom I work with; direct lenders, title companies, and many private companies and individuals. I do this full time, and plan to do so for a long time. I have several SS companies that I work with regularly. Last year was my best year yet, in spite of loan signings slowing down a bit... IMHO the only ones convinced that fees are down, are the ones who accept the reduced fees.

Reply by MW/VA on 1/23/10 8:31pm
Msg #319314

Not in my market. Yes, I can set my fee at $200, but wouldn't get any work. I was getting $150-$175 when working with tc's directly--not any more.

Reply by Notarysigner on 1/24/10 10:56am
Msg #319347

I wouldn't argue about what you all are saying. Previously I posted in my profile, I will not accept low-ball fees. My point is being echoed.
Legit companies pay reasonable fees as dictated by a professional Notary i.e. someone who knows how to do the job, find the answer, take the extra step. Why would I want to take a call from a SS that doesn't have that in mind?
Expectations play a big part in the industry on but sides/ends and when it clicks, it's profitable for all concern. Demand to be paid what you're worth. IMO

Reply by BrendaTx on 1/24/10 1:50pm
Msg #319360

I sure like you, Notarysigner!

You have your head on straight.

Reply by Fairfax/CA on 1/25/10 3:01pm
Msg #319462

Please be advised that Fairfax Signing account on Notary Rotary has been hacked into. Fairfax Signing apologizes for all inflammatory or derogatory statements that have been posted to this site.

Fairfax Signing value our relationship with our Notary Partners. Fairfax have strive to make it our priority to pay all our notaries on time.

As we all know in our industry it is very volatile. There are circumstances that are out of our control when Buyer cancels. When the file cancels, nobody gets paid. Title, escrow, real estate agent, loan officer, Seller.... etc. do not get paid when a file cancels, even though we ALL worked on the file.

We have dealt with the person involved in the hacking of the account and we are confident that this incident will not happen again.

Again, we sincerely apologize this incident occurred.

Fairfax Management