Posted by Susan/CA on 8/9/11 6:29pm
Msg #393177

Discussed to the point of ad nauseam however....

Did you all realize that most of us notary signing agents are being taken over by 55.00-75.00 dollar (for edocs) notaries. So many companies are telling me they have plenty of notaries to do edocs for 75.00. These are bulk companies, meaning they have a ton of work. I am just sick to my stomach thinking about how we are being run out of business by these idiots...such a shame. I am getting no more calls from companies that used to call me on a daily basis. Even though we talk about it over and over here the reality is sinking in and it s**ks!!!

Just venting...
Susan

Reply by Shoshana/AZ on 8/9/11 6:51pm
Msg #393179

Fear not......

Before too long interest rates will be rising again. I have heard predictions of up tp 16-17%! You need to start thinking about Plan B if you haven't already!

Reply by Stamper_WI on 8/9/11 7:16pm
Msg #393182

Re: Fear not......

Feds have announced they are keeping interest rates low until 2013.

Reply by Shoshana/AZ on 8/9/11 8:02pm
Msg #393184

Re: Fear not......

I believe that mortgage rates will go up. When was the last time you met a politician who didn't talk out of both sides of his mouth?

Reply by Linda_H/FL on 8/9/11 8:12pm
Msg #393190

I'm not sure whether to believe it or not either

I suspect rates are going to go up too - trying to refi now and grab as low as I can..

Reply by Linda Juenger on 8/9/11 8:29pm
Msg #393197

I believe but could be wrong that they will keep interest

rates low for 2 years because that's the only way they can try and re-elect Obama. Sorry, I guess this belongs in JP.

Reply by nobhill on 8/10/11 2:23pm
Msg #393249

Rates Not Going Up Until 2013

Well you're wrong as of yesterday the Fed says it won't raise rates until 2013.

Reply by jba/fl on 8/10/11 2:28pm
Msg #393251

Re: Rates Not Going Up Until 2013

What is said is not always what is done.

Reply by Shoshana/AZ on 8/10/11 3:28pm
Msg #393266

As I said above....

Don't believe everything that comes out of a politician's mouth. They just tell the public what they think the public wants to hear.

Reply by nobhill on 8/10/11 2:04pm
Msg #393243

Re: Fear not......

Not until 2013 as of yesterday according to Ben Bernanke.

Reply by Notarysigner on 8/9/11 6:56pm
Msg #393180

That's alright Susan 'cause it's true, not to mention what else they demand in addition to the BS pay.

Example, Couldn't agree to terms with PDQ Notary because I do not accept late Docs, why would I want to jeopardize another appointment?

After agreeing to a fee, Faxbacks, handholding, cancellation, no sign fees I added that I must have the Docs two hours before scheduled appt time. I was told, "we expect you to commit to the assignment and if the Docs are late you must adjust your time and if you can't do that we'll have to get someone else.

Why are they calling a notary to commit to a certain time if they don't know when they are going to have the Docs? I know, 'cause that's the way it is. B.S.

The fire department has a big red truck out front, I don't.

Well, I'm having my dinner on schedule tonight!

Reply by LKT/CA on 8/9/11 8:00pm
Msg #393183

<<<So many companies are telling me they have plenty of notaries to do edocs for 75.00.>>>

Then ask them, "If you have ssooo many notaries that accept $75, WHY are you calling me?"

Reply by MW/VA on 8/9/11 8:06pm
Msg #393185

I like that reply, Lisa. They may try to convince you that

the "majority" of notaries are accepting those low fees. I don't & haven't lowered my fees. I'm as busy as I'd expect to be in a soft market. The companies that I work for are my regulars, and call me because they want a skilled NSA to represent them--simple as that.
IMO those companies that are low-bidding won't be around long. It's taken me many years to realize a simple economic fact--if you don't put a value on your services no one else will.
I'm not saying that low-ball offers aren't more common now, especially in saturated areas. IMO there is still plenty of room for the top-notch NSA's. They're the same ones that participate here, discuss the ups & downs in the biz, and are survivors. :-)
It's really no different that those with jobs who are being asked to take cuts in pay, like teachers.

Reply by Susan/CA on 8/9/11 8:10pm
Msg #393187

Re: I like that reply, Lisa. They may try to convince you that

The problem is they dont call anymore once I tell them I don't accept their fees. :/ The only thing we can hope for is that lenders eventually cut out the middle man. I also sell R.E. (& I don't even want to go there! LOL!) I think I need to try to hook a few loan officers and title companies direct...wish me luck! LOL! Maybe I will become a bartender...

Reply by Sha/CA on 8/9/11 8:15pm
Msg #393191

Re: I like that reply, Lisa. They may try to convince you that

Good idea, Susan. I bet there is job security in bar tending. The market is saturated with notaries anyway.

Reply by Sha/CA on 8/9/11 8:18pm
Msg #393194

Lisa, they're calling to see if you would do the job for $50 n/m

Reply by MW/VA on 8/9/11 8:16pm
Msg #393193

Could be a great choice. I'm sure that biz is up! n/m

Reply by Buddy Young on 8/9/11 8:41pm
Msg #393199

Good luck Susan, tell me which bar and I'll come have a drin n/m

Reply by Moneyman/TX on 8/9/11 9:24pm
Msg #393211

That was my first thought when reading the OP.

I actually had a company that used to be a really good customer of mine. After 3 years they started moving from a Net 30 to Net 45(ish) and began trying to lower fees, I refused to accept the low ball fees along with the longer pay times so they stopped calling as much. When I did accept orders from it was on my terms and on my fee schedule.

It's been 4+ months since that same company called me until last Friday afternoon. Had an assignment 2 counties over for Saturday and wanted me to accept it for the same fee as if it were only 5 miles away and during a weekday. When I quoted him my fee for the job he quickly said "I have other notaries that will do it for $X." I told him that since they only call me once ever few months that I charge my full fees for once in a while calling companies and that he probably should get one of those other notaries to do the job. I also added that if he had them, why did he bother to call me at all?

This was once a company that I bent over backwards to always accept their requests and went above and beyond on several occasions for. Since they showed that they do not know what loyalty is I must admit that if felt good to be able to let them know that discounts are reserved for good customers only, not emergency signings every blue moon.

Just one of the perks of being self employed. You get to decide who to accept work for and what you are going to charge for your services. Just because a SS offers a low ball fee, you do not have to accept it.

Reply by Howard L. Jester, Jr on 8/9/11 10:23pm
Msg #393216

Re: That was my first thought when reading the OP.

Amen!!!!

Reply by Alz on 8/10/11 12:27am
Msg #393219

Well stated! I could not have said it better. n/m

Reply by Sha/CA on 8/9/11 8:19pm
Msg #393195

Lisa, sorry that should be for Susan. n/m

Reply by Marian_in_CA on 8/9/11 8:54pm
Msg #393204

This is why I try to do more general notary work... the loan stuff just isn't there and I'm not going to compromise my time/effort. I turned down a $90 job yesterday because I have an absolute minimum that I have to maintain.

This is also why I have a second business, too...

Reply by Alz on 8/10/11 12:31am
Msg #393220

The key to success is diversification. IMHO n/m

Reply by Notarysigner on 8/10/11 4:09am
Msg #393222

...OR other income....I turned down a $90 one also and I hope the SS who "monitor" the board for "pickens" read this and skip me unless you have real money.

Reply by Joeycaps on 8/10/11 10:51am
Msg #393229

I have been doing this work for over 10 years and theres always someone who will do a job for less, a few years ago a notary in arcata california started doin signings for 35 dollars, before edocs and he undercut all of us but he was getting 5-7 per day

Reply by Linda_H/FL on 8/10/11 10:57am
Msg #393230

Wonder how long it took the IRS to disqualify his

"business" and make it a hobby - subjecting him to past-due taxes on that income PLUS interest and penalties.

That is, if he even claimed his income - if he didn't know enough to charge more than that for a signing I'd question if he even bothered learning the ropes of the business.

Yeesh

Reply by BossLadyMD on 8/10/11 11:30am
Msg #393231

There are tons of notaries now...this has an impact

I recently did a closing and the borrower even inquired as to how he could start a mobile notary signing business due to the economy. Go figure, now borrowers want to join the fray! I do, however, plan to tough it out.

Reply by nobhill on 8/10/11 2:20pm
Msg #393245

This is Deliberate Class Warfare

I think you're right since LSI and BancServ appear as of 2011 to be using low ball agencies to do their work assignments which is why it's important to start working on other areas of business. They simply don't want to pay a fair wage for our work in allowing the greedy agencies to rob from us. This is deliberate, strategic warfare against us as loan signing agents. These companies are hostile towards us now in many respects. My goal is to develop my own direct relationships and not depend on agencies as much as I have in the past.

I don't believe they want us to have independent businesses with direct relationships with local businesses. LSI recently attempted to steal my clients by sending a trojan horse questionnaire alleging the would give me more business if I provided a long list of my clientele. They haven't called me since I refused to do so. I since learned they are using at least one national sleazy agency now rather than assigning work directly to agents. I believe had I provided the list they requested, it would have gone to their contracted agency to use to steal from my business.

We can fight back by going out and getting our own business, that's the bottom line. I think you'll find many establishments prefer a reliable personable local person to deal with rather than a few of these agencies.

I view some of these guys at agencies as pimps who are looking for whores for cheap labor while they take 50% or more of our fee.