Posted by Yoli/CA on 3/23/11 5:16pm
Msg #377299

Accountable Agents, Reading, PA~

For several years, these gentlemen have been one of my favorite SS's. They've always met my fee, no hand-holding and paid timely. (see thread starting with msg#370217)

In less than 2 weeks, however, they've called to offer a signing, to which I agree, then they try to slip in a lower fee by saying that vendor only pays so much. Unfortunately, I've already given them my basic edoc fee and can go no lower. They move on to another notary willing to take the low fee.

Is this a sign of what we have to look forward to?

Reply by Shoshana/AZ on 3/23/11 5:34pm
Msg #377301

Is that a rhetorical question or do you really want an answer?
One of my best clients called me last week to ask me if I could go any lower as they wanted signers who could work for $80-$95!

Reply by Kathy Van Klinken on 3/23/11 5:46pm
Msg #377303

It is def a trend, I have turned down several asking for $70. for edocs. I won't work for free!

Reply by jba/fl on 3/23/11 5:59pm
Msg #377305

It may be a trend with some companies BUT there

are still those who want to pay more. Got another one today...Makes it so much easier to say, "No, thank you."

Reply by janCA on 3/23/11 7:06pm
Msg #377309

It's only a trend, if you allow it. n/m

Reply by Woody Williams on 3/23/11 7:18pm
Msg #377311

I got the same story from Accountable Agents today also. "The title company will only pay $xxx." I have no idea what the title pay. Oh well, move on to the next notary.

Reply by notary/OR on 3/23/11 8:16pm
Msg #377316

What are they offering you? They called me today and offered $100 for an edoc. For my area, that is standard. I have been turning down signings from companies that are lowering their fees. It is hard to turn down work however...gas is going up again and I'd frankly rather stay home than work for nothing.

Reply by MW/VA on 3/24/11 8:39am
Msg #377336

That's sad because they are a great co. IMO this is the trend, and someone posted that one company tried to say there was a limit on fees in PA. Not legal, of course, but companies are having bidding wars for work, sadly.

Reply by Les_CO on 3/24/11 9:26am
Msg #377341

Good, well paying companies like Accountable Agents (I’ve worked for them and they are on my good list) can’t compete with deadbeats, and low-ballers. These companies must make ‘something’ in order to stay in business. It they charge Title say $150, and pay out $125, they after expenses make a little, as do we. But in comes a company like Nations Direct, says to Title we’ll do the same job as AA for $125, or even $100 to get the business. ND pays $40 so they still make $60-$85, and Title saves $50 per closing ‘that they keep’, they don’t lower their ‘closing costs’ to the borrower. This really adds up over a year. So AA has to close, or lower their rates to compete, they can’t pay out more than the get.
And GUESS WHAT? It’s OUR fault for taking the low-ball offers! This business is being ruined, not by low-ballers, but by STUPID notaries. JMO

Reply by Calnotary on 3/24/11 10:36am
Msg #377348

That's the reason I don't work for deadbeats, and low-ballers, First because I don't make money working for deadbeats, and low-ballers and second it does really hurts the good SS like AA here.

Reply by Morgan/PghPA on 3/24/11 12:42pm
Msg #377376

totally agree with Les

Reply by Frank/NC on 3/24/11 4:42pm
Msg #377423

Les, you are right on the money. In this end of the world I think they would work for nothing. A good many have no experience at all but ND and the likes of them don't particularly care. The low ballers and dummies taking the low fees will mean the end of what could be a good business.

Reply by Accountable Agents, LLC on 3/24/11 8:29pm
Msg #377438

You know we are a great company and our records indicate that. We NEVER like to ask you to lower your fees. We feel it is completely fair for $100 and that is pretty much the going rate and we always compensate when the packages get excessive in size or circumstance. We would LOVE to pay everyone $125-$150 but it just isn't possible these days. It could be a lot worse as I am sure a lot of you have experienced.
As a closer and an owner, I would be too embarrassed to start asking our closers to go below $100 because even I wouldnt turn on my car for that. I would much rather go out of business on a high note. Some of our title clients have asked us to lower our fees and we say no and for the most part it has worked for us. We aren't going anywhere and we have continued to grow due to SERVICE! You get what you pay for. Period.

Reply by Les_CO on 3/24/11 11:44pm
Msg #377454

I truly feel for you in this dwindling market. I hope your customers (Title) are savvy enough to realize that a good NSA, can many times save a deal, and sooth the borrowers ruffled feathers, by explaining and pointing out things that the borrower doesn’t quite get or has a misconception about when the LO or escrow officer at Title is unavailable. Just as an unknowing unaware inexperienced NSA can kill a deal, and just maybe loose Title that hard earned client. I would also point out to your customer that they are not reducing their title/closing fees and that if properly done the borrower actually pays the cost of the “remote closing” and it is just a pass through to them. Given that, and that the borrower almost never complains about the notary cost because it’s a great convenience to them. So as long as the borrower is happily paying the cost, why not use the best? You really do get what you pay for.
GOOD LUCK!

Reply by Sheila Meinecke on 3/25/11 12:54am
Msg #377461

I agree with Les, why is it so hard for some companies

to understand this? What is $25 or $50 saved when you can rest assured that the job is always done correctly with minimum fuss. Once you start lowering your fees, the only way to go is downhill.

Reply by JanetK_CA on 3/25/11 4:34pm
Msg #377516

Right, Sheila and Les!

And when you consider the possible downside costs of having the deal lost or messed up because of a lack of experience, that $25 - $50 can be some of the best money spent by that client! I may be biased (you think?) but it seems like a pretty smart investment to me!

Reply by rolomia on 3/26/11 6:06am
Msg #377560

It's the Wal-Mart mentality...

Is any NSA surprised that Wal-Mart's home state of Arkansas has the highest concentration of notaries per capita in the nation?! As the U.S. population increases exponentially, more notaries will compete for fewer jobs. Title companies and signing services will take advantage of this trend by auctioning off signing orders to the lowest bidder with the highest rating. The few winners of this terrible scenario will be the website software developers with the best marketing/sales skills who successfully promote NSA directory memberships to the greatest number of ignorant notaries and title companies/signing services.

Reply by Lisa Miller on 3/12/12 1:55pm
Msg #414631

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