Posted by Smithnotary on 6/23/10 3:57am
Msg #342063

New Notary in Cali

I'm having the hardest time getting started in Cali with my notary business. I market, I promote, I cold call....I've had my commission for 1 month. Any advice? I'm in the Inland Empire.

Reply by aurelio/FL on 6/23/10 6:07am
Msg #342069

You unfortunately fell into the NNA trap that so many others have fallen into.

Business for signing agents is very, very, VERY slow. Yes, NNA makes it look like a really easy and fast way to earn tons of money. The only ones making money right now are the NNA.

Best advice? Look for a day job, which is what I have had to do. I love being a notary and will continue renewing my commission but I am kidding myself if I think I can keep up any longer as a full time signing agent. Offered fees have gotten lower and lower to the point where it is just not a profitable business anymore. Unfortunately I do not see it getting any better.

Reply by JulieD/KS on 6/23/10 12:42pm
Msg #342122

It took me a couple of years to really get a good start. That first year was hit and miss.

Reply by JanetK_CA on 6/23/10 3:35pm
Msg #342171

To Original Poster: I agree with all the other comments above, plus you're in one of the areas hardest hit by the bursting of the real estate bubble and there's still a very long way to go for property values to recover. I suggest you check out the statistics available for the Inland Empire on purchase volume and refinance applications. (A Google search should provide all kinds of data. You might check the state DRE, etc.) I doubt you'll find it very encouraging. The only potential bright side I see for you is that there's a good chance many of the more experienced people in your area may be getting out of the business. (BTW, I'm in nearby OC so I have a pretty fair idea of what I'm talking about there.)

I strongly suggest you make sure to keep your day job. If you still decide to pursue this as a sideline, it might make more sense to go after general notary work. To do that, you need to first make sure you know your notary law and rules inside out. Then you need to advertise and work to get your name out there. In fact, it's a very good idea, imho, to get lots of general notary experience before trying to take on loan signing.

I really think people should have that part down before getting into doing loan docs, unless they have a strong background connected to the loan business and are familiar with the documents and the process. Then they STILL need to make sure they know their notary stuff cold. Too many people tend to gloss over that part, but it should be the first step.

Best of luck to you. It makes good sense, imo, for everyone to diversify their income - especially these days! It's just smart to make sure you know what you're getting into.

Reply by CopperheadVA on 6/23/10 6:21am
Msg #342071

The problem is, there's practically no business to be had. My business is down 60-70 % from last year. I've experienced a lot of no-signs lately on the jobs that I have done. I'm looking for another job after spending the last 18 months taking classes to complete a certification program at the local community college.

Reply by JulieD/KS on 6/23/10 12:44pm
Msg #342123

Copperhead, I, too, am looking in different areas for income. My main income used to be from signings. Now, it's just hobby income. My area is saturated with new signing agents and apparently, some of them accept really low-ball fees. I won't. So, I'm heading in new directions. When one avenue dries up, take a new avenue.

Reply by Notarysigner on 6/23/10 9:42am
Msg #342100

Stats 1st year thru June $715.00 2nd yr 4,000+ You got a lot of work to do, in the Inland Empire, lots of competition there.

Reply by Smithnotary on 6/23/10 1:53pm
Msg #342138

I'm kind of right in the middle. Technically my part of Pomona is in Los Angeles County but the I.E. is righ across the freeway. I'm not too sure about really working in LA because I just assumed it was saturated in LA and OC as well. I have a really good day job but I just wanted something on the side for a little extra income. I'm trying not to be discouraged.

Reply by Notarysigner on 6/23/10 3:03pm
Msg #342162

Don't be discouraged...if you get a call take it.. What will you do if you have a problem and have to go back out to the borrower but, you're at your day job?

One thing for sure, if you tell a SS you are only willing to work specific hours, you probably won't get any calls.

Reply by Marian_in_CA on 6/23/10 11:45am
Msg #342118

There are a LOT of things working against you. First, You're in an incredibly saturated area where others have long establised histories. People tend to stick the "their" notary. It's tough, really, really tough.

I moved to a new area a year ago and it's not easy at all because there are quite a few long standing, well-known notaries here. I lucked out big time in two ways:

1. Just about all of them live on the west side of town -- I live on the east side.
2. In January, the UPS store on the east side of town closed after being open for less than two years.

That means that finding a notary on my side of town is very difficult... the other independent pack and ship stores do not reliably have a notary on duty.

The majority of what I do is general notary work now. Loan signings are almost gone -- and it's primarily because of the long standing notaries in town, but I also know that one of them accepts way low fees. I don't have a desire to compete with that.