Posted by Karla Hand on 8/15/11 3:19pm
Msg #393711
Need Your Valuable Opinon
I am gearing up to become a mobile notary and have been reading the comments and found them to be very helpful. My background is customer service (extensive) and paralegal (1.5 years). I have been laid off twice and want to go another direction (mobile notary). I was referred by a friend to a mobile notary of six years who lives in another city (an hour from me). She explained that she paid $1000 to shadow another mobile notary when she started out. She quoted me $500 to drive to her location 2-3 times, go to several closings, spend a few hours at her home office and how she tracks everything. The money would also guarantee that for one year I could contact her with questions. Good idea/Bad idea? Thanks in advance.
| Reply by Philip Johnson on 8/15/11 3:25pm
Msg #393713
Good for the person collecting the $500.00,
for you not so much. With a bit of study and a willingness to make a small business work, I think you can do it on your own.
| Reply by Linda_H/FL on 8/15/11 3:29pm
Msg #393714
I wouldn't do it - but that's just MHO...
$1k?? She's got to be kidding.
There's enough info contained on this site to help you get started; Quicken Home & Business will track your invoices; TurboTax Home & Office will file your personal AND business tax returns.
Companies frown on anyone taking extraneous people to signings with them - this is something you can do for yourself if you have the mind to keep at it, market and work it. It's not going to be easy, especially in this economy, but I won't say it's impossible - it depends on your area and what kind of business climate there is out there.
Good Luck. And that will be $250 for the consultation fee - my address can be found in my profile...
| Reply by C. Wayne Moore on 8/15/11 3:34pm
Msg #393715
Very Good Linda! I like! :-) n/m
| Reply by jba/fl on 8/15/11 3:41pm
Msg #393716
I don't know how valuable my opinion is, but I will give it, FWIW. Free advice = $0.00
How much do you need that $500? Plus gas for all those trips? How much of a go-getter are you? Have you ever been in business before? How are your research skills? Do you enjoy looking things up and learning on your own?
If you have answere "no" to any of the above, stop now and find a job.
If you answered 'yes' to any of the above, or in the affirmative, then do this on your own.
You have come to one of the best places to learn about this business, what there is left of it. See the orange search button? Use it a lot. If you have a question, use some key words and search. Read the threads, learn from what others say. You can also go to Msg #33325 (you can click here on that and it will open in another window) and read and learn a lot. Some of it is outdated, but that's ok - you will figure out what to skip. If you have more questions, have searched with the Orange button and come up empty, then Ask here - and someone, or many someones, will reply.
Sometimes the reply will come from a very busy person who just wants to toss you the info and it will appear brusque or not served up so nicely - ignore that and take the morsel. If you have a thin skin, develop a thicker one and get over yourself. That is business for you. This is a business. You are being helped and that is what matters.
If there is a question pertaining to this business, it has been asked. That orange search button will give you what you need most of the time. But, others do not want to do your searching - and could you trust their answer anyway? Stupid questions are few and far between and we all know that. Many of us believe that the only stupid question is the one you don't ask, but look first. We know the difference if we have been here for a while.
Soon, after reading a lot, you will get a feel for who is on the up and up and reliable in their answers/thoughts. Then you can begin to ignore some of those you find superfluous.
As for your OR notary mentor: search that person here to see if they post and how others respond to them. I can think of one person who would do you right completely and I can think of another who would need you to teach them some of the finer points in customer service. References may be in order here - your call.
I hope that others will weigh in on this issue to give you a balanced cross section to assist in your decision making. These are just a few of my immediate thoughts.
Also, Google is your friend.
And, become familiar with this site and how it works. Look in SC to see the companies and how they are rated, etc. Read comments.
Homework and research are essential.
| Reply by KSMONotary on 8/15/11 3:43pm
Msg #393717
I'll do it for $450
| Reply by ikando on 8/15/11 4:10pm
Msg #393724
jba is definitely right--you're looking to start a business. If you have no idea what's involved in working for yourself, you must learn. There are courses offered at the community college, through SCORE, and sometimes by the Chamber of Commerce in my area. They are very helpful to those who have only been an employee before. The perspective is completely different depending upon which end of the paycheck you're working from.
As for the "offer" to train, I personally wouldn't go there. Again, as jba commented, this site is a gold mine of information, but you have to do the work to unearth it. Go for it, and good luck!
| Reply by MichiganAl on 8/15/11 4:00pm
Msg #393721
This is a FRIEND? With friends like that... n/m
| Reply by NJDiva on 8/15/11 4:48pm
Msg #393728
$500? Is she also offering to supply the start up costs...
Printer, toner, paper, office supplies, first years E&O insurance and a great data base? tee hee!!
Um, er, echem, uh, nope can't justify it otherwise. But hey, if you need hand holding like that and feel more comfortable with the easier, softer way, ANND you've got the $500 to donate, then go for it.
No matter how easy it is to learn, it's getting established with companies that's the most daunting part of starting this business. And this site is where you're going to get the most info for that. Be prepared to not have a steady income. The way these companies are paying lately, you have to be very well established with steady business to rely on the income.
Just because you do 40 closings a month (if you're lucky enough to garner that type of business in this economy, and at the very least for the first 6 months to a year) doesn't mean you're going to have $4,000 the following month.
I'm not sure how business is in OR, but I can assure you, this economy is really not conducive to making a viable living or establishing a business here in my area, IMO!!!
All I can say is do some homework. Find out what the market is doing in your area. You just very well may be wasting your time and money. Just my humble opinion.
| Reply by Stephanie Santiago on 8/15/11 4:27pm
Msg #393726
Re: Need Your Valuable Opinon...Karla
I agree with most, especially the fact that loan documents are confidential and I personally believe that the borrowers don't want anyone other than the Notary in their home during the signing.
It sounds like you are intelligent and eager to learn.
Once you become a Notary Public and read the entrien on this message board, and complete a signing, I trust that if you have questions most on this message board will be more than happy to assist you.
Before asking a question here, be sure to read previous posts. The chances are great that your question has been asked. You can do a search on this site - you may not even need to ask the question.
Anyway, $500.00 - no way...
**Read this message board website.
**Research - recently I think it was Julianne, from this site stated Google will be your best **friend. Use Google to research.
**If you must, ask a question, but be sure you have scoured this website for the answer.
**We all started with that first signing.
**We all had to learn.
**It takes time to build a clientele; don't be impatient; many of us have been in this industry 15+ years.
Research as much as possible.
Good luck and I sincerely wish you the best.
| Reply by Les_CO on 8/15/11 4:43pm
Msg #393727
Re: Need Your Valuable Opinon/ Bad Idea! n/m
| Reply by Notarysigner on 8/15/11 5:24pm
Msg #393733
That is definately not your friend,...besides what Jba says
there is a person who post here (perhaps they've already contacted you) who does exactly that for far less then your "friend", and mentors you for one year.
| Reply by BossLadyMD on 8/15/11 5:40pm
Msg #393734
I did an internship in a title office. Best decision ever! n/m
| Reply by ReneeK_MI on 8/15/11 6:38pm
Msg #393744
Absolutely the BEST advice!!
Mentoring is so iffy - if you need a mentor, assumably you're looking for knowledge & experience ...yet you have NO IDEA if that mentor is any good, and you wouldn't know the difference if they weren't.
Any way you can work your little self into a title company, work it. Work for free, offer to file or answer phones or make coffee in exchange for being allowed to sit-in on some closings. Alternatively, you could hook-up with an escrow/settlement closer who maybe wouldn't mind the extra $$ to just be your new best friend for a while.
| Reply by Linda_H/FL on 8/15/11 7:18pm
Msg #393749
BossLady, I think that's the absolute best training
anyone could ever get. EVERYONE should have to do that if they're going to close loans independently.
| Reply by Buddy Young on 8/15/11 5:45pm
Msg #393735
You don't need to pay $500 for hand holding, just study hard and learn the notary laws for your state.
If you need help understanding loan documents, you can find them online.
If you are still unsure of yourself then become a certified signing agent, the course should explain loan documents.
Don't pay, study hard
| Reply by Notarysigner on 8/15/11 6:00pm
Msg #393736
MOST people coming into this business now
needs a mentor. You should not practice what you learned on your own at the expense of a borrower.
It is because of the success I've had with outstanding NSA , LO, Brokers and owners of SS mentoring me I am able to confidently do the job just as well as anyone else on this board. Any mistake I have made was because I didn't ask someone about it if I didn't know the answer. IMO
| Reply by BrendaTx on 8/15/11 7:19pm
Msg #393750
Karla, you are a paralegal? You don't need help.
I had a legal asst. background. I did not need anyone to "show me".
You take the stack of paper and remove the page or pages of the first document. Introduce the document in one sentence. Learn where key points are stated in the document so that if the borrower has questions you can point to it. If you can't point to language that answers their question, then you need to call the SS, TC, or Lender.
Do that through the entire package. Notarize as required. Just take it one document at a time.
That's my contribution...maybe someone else will pick up where I left off...or back up and tell you about walking through door...and someone else can do likewise.....etc.
Anyhow, you're accustom to reading legalese...it won't be a problem for you.
| Reply by JanetK_CA on 8/15/11 7:44pm
Msg #393756
A slightly differing opinion
I have mixed feelings about this issue. A very successful, smart friend of mine always says that there are two ways to learn things: 1) the school of hard knocks, and 2) OPE, (aka Other People's Experience). Yes, you can find a lot of that here, but there are certain limitations to that.
I like the suggestion of trying to get into a title co office to observe, but that may be difficult to do. I think it boils down to what your goals are and how quickly do you want to get up to speed as someone who really knows the ins and outs of our business. The other issue is how much do you know about the potential mentor, her success, and her ability as a teacher.
I think a lot of us tend to underestimate what it's like to run a typical business on your own. In many fields, paying $500 for shadowing a mentor could be money well spent - and an opportunity few have. Many business owners routinely spend a lot more than that on business consultants to find out they're doing. The trade off is how much is there to learn about the business in question and what is the potential return in your particular market. (And how much you can afford, of course.) You also should explore what other options might be available to you for training and mentoring.
I can't say if that would be a good investment for you or not, but I think it may be worth investigating, at least. As for the idea of tagging along to observe, I'm not a fan of the idea, either, but it might be OK with approval from the borrower and the client.
But if you're not in a hurry, not concerned about business eventually drying up in your area, then by all means, go for the school of hard knocks.
| Reply by Karla Hand on 8/16/11 3:18am
Msg #393791
I want to sincerely say, 'THANK YOU,' to all who took the time to read and respond to my question regarding a $500 mentor. You gave such good food for thought on the subject and then some. I have a lot to think about, investigate, and act on. I know I have chosen a good field to work in when if in fact my peers are such kind, caring, and helpful people. At the risk of sounding sappy, I am excited for the day when I am no longer a newby but can provide advice to one as you have done for me! :O)
| Reply by SharonMN on 8/16/11 11:46am
Msg #393822
Someone just called me asked if he could shadow me. I said no, but said that for my standard signing fee I would bring a set of sample docs* and do a mock closing with him and answer any questions he had and give him the sample docs to keep. I felt that was fair. So your notary that is proposing $500 to train you sounds reasonable given what she's offering, but I question whether you really need more than one visit of an hour or two, so you might negotiate.
*Not belonging to a real bwr! I got them from public websites.
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