Posted by Les_CO on 1/10/10 12:50pm
Msg #317437

Shooting yourselves in the foot

To all you $50 NSA’s.
Have any of you ever thought of the effects of you taking a lo-ball fee has on EVERYONE? Not only are you working for nothing, you are lowering the industry standards for both SS’s and NSA’s. No one that is a professional full time NSA can afford to take a $50 fee. Only desperate newbies, hoping to gain some experience, part-timers, hobbyists’, and the like, take these sorts of jobs thinking what the hell it’s better than babysitting. The professionals are disappearing! The honest, knowledgeable, good paying SS are being put out of business by newly started SS, with no capital, no experience, no business knowledge, and no integrity, thinking they can make a few bucks, hiring $40-$50 notaries, using someone else’s money, paying 120 days out, and eventually going broke, and paying no one. We see every day posts hear about deadbeats, new SS’s, and no pay/slow pay companies. And every day NSA’s complaining about lo-ball fees. How can a SS that pays fair fees, has capital, experience, good knowledgeable people compete with the no-pay, or lowball companies? How can a SS pay YOU $125 for a signing, when EVERY day some new lowball SS calls on their Title customers and offers to do the same job for say $100? Paying you someday, maybe, or not at all, $40, and keeping $60, or all? They just can’t! Yes, the closers, and the escrow officers, may know what kind of service they will get from these low-payers, but there is always a bean-counter, that is NOT on the front lines, that has no clue, and couldn’t care less, that tells top management “We need to save money, why pay more?”
Not only are you shooting yourselves in the foot, you are killing ALL of us!
I guess we all better practice up on our general notary work?
JMO

Reply by Sandra Clark on 1/10/10 1:11pm
Msg #317438

Well said Les and it blows my mind that someone would actually admit they accepted work from ND

Reply by Maureen_nh on 1/10/10 9:59pm
Msg #317471

I do take work from ND, if they meet my price. The handholding and faxbacks are a huge pain, but if they agree to a fee, they pay and they pay full price for no signs. I don't take them EOM unless they are very close and not in the 4-8 pm prime time. They don't want to pay for time unless they really need you. However, they are ethical according to most standards and have been in business forever.
I have so much an hour I need to make to break even and with prices on necessities rising by the day, I may have to bump it up.
This is not my only source of income, anyone who relies strickly on signings as such is crazy or VERY good and in a heavily populated area. ( I think someone pointed out that Orange County CA has a bigger population than NH)
No shame in working for ND if it's on your terms.

Reply by Linda_H/FL on 1/10/10 1:16pm
Msg #317439

Touche Les!! n/m

Reply by Cari on 1/10/10 1:21pm
Msg #317441

I can not agree with you more Les! There are NSA's in my

area for example, that came out of the cracks literally, overnight, and are accepting work starting at $50 up to $85 (for "bulk work"

IMHO, these low paying SS and TC's are going to get burned. It's going to happen, and I really can't wait, because I am hoping that they'll learn their lesson!

More and more lawsuits are popping up AGAINST lenders, tc's, ss and nsa's, anyone and everyone who is involved in a loan transaction that went sour!

IL is a perfect example of a state that has instituted a few new laws because of laziness and/or abuse!

UGH!

Reply by Art_PA on 1/10/10 2:56pm
Msg #317454

Re: I can not agree with you more Les! There are NSA's in my

Can you identify any of these law suits against signing services or notaries?

Reply by Linda_H/FL on 1/10/10 5:21pm
Msg #317458

Art...there's an attorney/notary who posts here

who posted that she's being sued concerning a modification signing she did; there's a notary in Alabama who posted elsewhere that he's being sued along with a major mortgage company.

I'm sure there are a lot more - it's the society we live in - people feel if something doesn't go their way, right or wrong, they'll sue. If a lady can sue MacDonalds for hot coffee, and WIN, anything can happen. Potential lawsuits aren't something we can just pish-posh away as "it can't happen to me"...

MHO

Reply by John Schenk on 1/10/10 8:35pm
Msg #317469

The McDonald's case is a very poor example.

You should explore the FACTS of that case. The verdict should have held, although she ended up getting less than the verdict.

JJ

Reply by Linda_H/FL on 1/10/10 11:08pm
Msg #317475

My point being, John..that people will sue over anything

and will sue everyone in the picture...over 15 years in personal injury work taught me that, as should the headlines today....people sue - period. To go into business with the mindset "I won't get sued, it won't happen to me" is not a good idea.

MHO

Reply by LKT/CA on 1/11/10 12:42pm
Msg #317546

I agree, John Schenk

I hear McDonalds had numerous complaints and was warned and warned about their coffee being too hot. When I used to get Starbucks lattes and order extra hot, they'd heat it to 180 degrees, and that was HOT!

Reply by Shoshana/AZ on 1/11/10 12:51pm
Msg #317551

The point is that the woman was very seriously burned. n/m

Reply by LKT/CA on 1/11/10 6:22pm
Msg #317635

Actually, that's not point.....

It is the end result, but not the point. The point is that lawsuit was forthcoming because McDonalds was warned that their coffee was too hot and the woman's burns were an indication and result of McDonald's completely ignoring customer complaints and warnings.

Reply by Notarysigner on 1/10/10 1:25pm
Msg #317443

I agree completely! Good post.

Reply by John_NorCal on 1/10/10 2:46pm
Msg #317453

You've said things that so many of us have thought of

for so long. Many of we veterans have expressed similar thoughts yet they always seem to fall on deaf ears. Maybe, just maybe, some newbie or other will read this will place some value on what they do and have second thoughts before accepting that low ball job.

Reply by MW/VA on 1/10/10 4:36pm
Msg #317456

I totally agree. We are the one's who set the standards of our industry. IMO, part of the problem is that many of the cheapo notaries don't participate in these forums or any other positive aspect of the business.
Also, IMO, every industry has it's bottom feeders.

Reply by Cari on 1/11/10 7:07am
Msg #317485

'cheopo notaries' should we have one uniform nick name? n/m

Reply by CopperheadVA on 1/11/10 7:30am
Msg #317492

I liked MW/VA's reference to "Bottom Feeders" n/m

Reply by desktopfull on 1/10/10 11:45pm
Msg #317480

5 STAR post Les!!! n/m

Reply by HrdwrkrVA on 1/11/10 9:37am
Msg #317500

How is ANYONE living off $50 signings????? n/m

Reply by Peggy DePuy on 1/11/10 9:53am
Msg #317503

I had quite a few calls and offered anywhere from $35 to $60 and turned them down. I am not that hungry. Since I haven't been doing this too long I began to wonder if I was too high but if I can't get what I think it is worth I will hang it up. I don't see how anyone can do it for those prices. I wouldn' t do one next door for that.

Reply by lowerAL on 1/11/10 12:33pm
Msg #317538

AMAN. I could not have said it better myself. I am 51 years old and raising a 10 year old on my own. This is my full time job. I have turned down so many $40 and $50.00. Thinking they will call back. Oh no, I guess they find someone to do them. Everyone has to stand by your rate.

Reply by jba/fl on 1/11/10 12:40pm
Msg #317543

This has been brought up in the past

Scheduler calls, gets turned down, continues to shop. Gets down to the wire, finally realizing that if they are going to get this job taken, they had better meet someone's fee. they have their notes as to who will do cheaper and may call them back, or just take the next notary at whatever price just to get it scheduled. Just because the scheduler doesn't call you back, doesn't mean that it was scheduled for the low fee they were originally seeking.