Posted by Heather/NH on 2/23/11 10:39am
Msg #373802

I am definately discouraged...

I have had 3 calls this week. They have ALL been low ball offers, one was a refi w/ fax backs for $65.00.
Typically I only do about 6-7 signings a month and they usually meet my fee, or are very close to it.

I had one person that was quite rude because I would not accept the low ball offer. Sheesh, why are we the ones who are expected to work for less when all of our expenses have gone up?

Thank God I start nursing school next week, I need a back-up :o)

Reply by CopperheadVA on 2/23/11 11:01am
Msg #373804

<< I had one person that was quite rude because I would not accept the low ball offer. >>

I've had the same lowball offers and one guy even hung up on me yesterday when I quoted him my minimum fee. He immediately called the next notary on the list, someone who I work with, and the guy hung up on him too! Some of the title companies who have called me recently are offering SS fees, as well. It IS very discouraging.

Reply by nunu on 2/23/11 11:09am
Msg #373807

We have to hang in there and keep our fees realistic. I also had a call yesterday, said they had a new client that would pay $60 with edocs. Needless to say, I did not accept the signing and quoted my minimum fee. They were very nice and I could hear apology in their voice for even offering the fee but wonder why they accepted the new client knowing the fees were beyond ridiculous. So, stick to your guns!

Reply by jnew on 2/23/11 2:41pm
Msg #373871

I took a lot of low stuff when I first started because I didn't know better. I subtracted my expenses from my income and came up with what I thought was my profit. I did not realize that there were hidden costs that I was not aware of. The biggest hidden cost was the lost revenue by scheduling low fee closings at the end of the month, when demand for services are at the highest. It took one instance for me to see how this was costing me money. I had to turn down closings which were paying me twice the fee because I locked in an appointment with the low guy. It was more profitable for me not to accept low offers at the end of the month because the business I got was all profitable. I also started to figure out my variable expenses per order which actually came down to the price of gasoline. Take a look at your total cost of a vehicle and divide it up so that you can find your cost per mile. The hidden cost on the trip is also the time factor of travel. Your travel time is your opportunity cost. You do not have the opportunity to work during this period. In this case, time is indeed money. Always ask the customer what they are willing to pay and negotiate. I never give out a figure until I hear what they expect to pay. I usually come back with the best fee for the job and negotiate downward to the lowest point I will take. This amount is usually more than the offer, but sometimes you will be surprised to find out that the customer will be willing to pay a lot more than you expect.

Reply by JanetK_CA on 2/23/11 3:06pm
Msg #373875

Excellent post! Great lessons learned!! n/m

Reply by Moneyman/TX on 2/23/11 3:28pm
Msg #373881

Great post. n/m

Reply by Retsing on 2/23/11 11:20am
Msg #373808

I had a few jobs at the beginning of the month but was starting to worry that I had been put on a 'bad notary' list because I have had very few calls last week or this week. And like others, the calls lately have been very low in $$s. And this is the last week of the month!
Guess it maybe time to look for another source of revenue.
TG, I have other income that I can count on.

Reply by ME/NJ on 2/23/11 11:06am
Msg #373806

This a a good PT job, very few can make full time pay

This month is a perfect example, money in was great (jan work) but looking forward I only have 1500 due in March and this EOM is bad So March will hurt money wise.

With the cost of living so high in NJ I would need 4-5K rolling AR to do this full time again. Just not happening and with current market conditions my area is still slow.

Reply by CopperheadVA on 2/23/11 11:28am
Msg #373810

Re: This a a good PT job, very few can make full time pay

I agree. This biz can get busy from time to time, but it never seems to last too long. I am not the main bread winner in my family, but I'm definitely looking around for something else to do in addition to closings. I was extremely busy up through Dec 2010, but after Jan 1st everything stopped.

Reply by HrdwrkrVA on 2/23/11 1:17pm
Msg #373841

I agree - I bit the bullet & invested in a great course,

which will give me a much better & steadier income contracing w/ the gov't in one of the few growth industries left. Even when times are good, some of these offers are ridiculous & SSs were slow to pay or NO pay!! Now, they're beyond ridiculous!!

Reply by jba/fl on 2/23/11 1:29pm
Msg #373843

LindaH/FL is going to nursing school soon too. Must be some

thing in the air! Sweet Spring!

Good luck to you Heather. You have to be proactive for yourself and you are picking a good career move.

Reply by Linda_H/FL on 2/23/11 2:01pm
Msg #373852

Yep I am...but I'm just gonna be "almost a nurse"

for now...we'll see where that takes me...

Reply by CopperheadVA on 2/23/11 2:07pm
Msg #373858

Re: Yep I am...but I'm just gonna be "almost a nurse"

Linda, I wish you the best of luck! I am rooting for you!!!

Reply by Linda_H/FL on 2/23/11 2:11pm
Msg #373860

Thanks Linda...:) n/m