Posted by 101livescan on 2/24/11 2:45pm
Msg #374049

$50 offer, yowsers!

If one more company calls me to do a signing for $50 I'll scream. Particularly when I'm so busy hour by hour at month end, these calls are so annoying! and time consuming, and add to your phone minute usage. Just knock it off, will you please? Let me do my work unhassled by such low ball offers.

Just curious to know who the heck has time for such time bandits!

Reply by CH2inCA on 2/24/11 3:08pm
Msg #374053

NEWBIES!!

I'm running dangerously close to my commission's expiration date; so I decided to take a six hour course and test immediately following last Saturday. While there I decided to go ahead and take the Loan Signing course imediately following the Notary test. I could just shoot myself; why oh why did I do that? It was an absolute waste of time; especially since I've been doing this for a while now.
However I will tell you that right there in the Loan Signing Agent guide it lists fee offered by SS's $50 to $60. As a newbie I wouldn't have the impression that this is not the standard rate! And if I were a newbie, I'd be feeling like I'm in the game if agencies called and offered such rates.

Yep; that was $175...totally down the drain.

Reply by Moneyman/TX on 2/24/11 3:23pm
Msg #374054

Re: NEWBIES!!

How is that list of $50-$60 offering companies any different than the list XYZ put out a few years ago? Didn't they get into trouble for posting such a list?

If they were going to post that low ball list in the guide they should also post the $125-$200 that professional SA charge right beside it!

By listing the low ball fees being offered by these companies aren't they (the people or company) holding the classes engaging in price fixing by basically telling people these are the acceptable fees to charge? Not sure, but it sounds like they might be doing something wrong besides the obvious.

If these type of classes are required for a commission in your state, I would be first in line to complain to someone within the state about this type of practice from this company. Maybe not on the possible price fixing issue but angle but from the promoting the low ball companies angle.

Reply by CH2inCA on 2/24/11 3:38pm
Msg #374057

Re: NEWBIES!!

To be fair; or a bit clearer, the guide does go on to state higher fees by TC/LO companies. And it does say something to the independent contractor being able to negotiate.

My point though is that to a Newbie; 50/60 dollars IS the place to start.

Reply by Moneyman/TX on 2/24/11 3:54pm
Msg #374059

Re: NEWBIES!!

With 50/60 newbies will be out of business if they believe that all there is. Thanks again XYZ for all of there help with lowering fees to SA.

Of course, if newbies would actually run the numbers BEFORE they start they would realize that $50-$60 for a signing with edocs would be an insulting fee. A lot of them accept these fees because they have not actually run the numbers and they think that is all that is out there.

Reply by ikando on 2/24/11 5:15pm
Msg #374072

Re: NEWBIES!!

I was reviewing my price lists from when I started in 2004. I am being asked to take less now than I was then. Even though the costs of everything have gone up--including the salaries of the people who are contracting us--they want me to take less than I did 7 years ago?

Another thing that used to happen--the paperwork was sent by overnight carrier. I didn't have the added expenses for printing. What other service provider industry has had this happen? Plumber? Attorney? Tax preparer? Not in my experience.

Just my 2 cents.

Reply by Marian_in_CA on 2/24/11 7:45pm
Msg #374100

Re: NEWBIES!!

The loan signing classes are NOT required in California. It's just a side-business that a lot of the education vendors offer to make extra money. There is no regulation to the material offered and they vary widely.

Reply by 101livescan on 2/24/11 5:22pm
Msg #374077

Re: $50 offer, yowsers! LOW-BALLERS

So that I'm not caught off guard going forward, I'm starting to add these companies to my BB CONTACTS as low-baller companies so that I'm not taking calls I don't need to distract me from my work and focus.

It cuts down the frustration!

Reply by Marian_in_CA on 2/24/11 7:47pm
Msg #374101

Cheryl, I do the same thing...

I set them to a silent ring so I never know they're calling. I just have the time or desire to haggle with those people. THey just aren't even on my radar.