Posted by HrdwrkrVA on 11/3/11 8:15am
Msg #402639
**LOWBALLER ALERT** Premium Title & Escrow offering $90-$100
for edocs! Whoo-hoo! Run like the wind....in the OPPOSITE direction!
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Reply by Jack/AL on 11/3/11 10:03am
Msg #402643
That's good money to me! Guess it depends on your point of view and location, but that is typical in my neck of the woods. For such assignments near home, I'll take all I can get at that price, except the very large packages with many pages of fax backs.
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Reply by NJDiva on 11/3/11 10:28am
Msg #402649
huh?
$100 is really NOT a lowball in my opinion. Of course that's just my opinion. I don't feel like I'm desperate enough to just take what I can get, but I certainly don't turn that down.
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Reply by HrdwrkrVA on 11/4/11 11:15am
Msg #402780
Most Title cos offer $150 & up in this area! n/m
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Reply by CopperheadVA on 11/3/11 11:23am
Msg #402656
I have to agree with HrdwrkrVA that $90-$100 is low, especially for the congested northern VA area.
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Reply by David/Tx on 11/3/11 1:45pm
Msg #402684
My fees have been $100. I've always felt that I was under valuing my business, but that has been the most I've been able to get and have signing companies call me. I have gotten a great volume from some of the larger companies but it only last for a few months then they try to lower the fee. When I don't accept their reduced fees, the phone stop ringing. So that is where I am now. My largest supplier wanted me to come down to $90 about a month ago. I held of for a couple of weeks, then accepted the offer, but Ive gotten only 2 closings in 2 weeks, when before I would have done at least 12 in this time. They are not lowering their cost to their client. I do not understand how a professional person can feel good about receiving $100 dollars and even less for a service they perform, knowing that the company charge $300 and more to the client and they are paying other professionals like you much more you are getting. Any advice to help me get away from these type of companies would be greatly appreciated.
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Reply by OU_Stoops on 11/3/11 1:28pm
Msg #402682
I have to disagree and do not see how it qualifies as a low ball offer. Yes it would be nice to be paid more but that is within reason. Not like some of these companies that pay 65.00 for full edoc signing with two sets of docs. ( WILL NOT WORK FOR THOSE ) I can still make a profit at $100.00 and will do those all day and would even consider $90.00 if it came with volume. I am not greedy just want a fair price and repeat business. At that price I wont complain!
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Reply by BrendaTx on 11/4/11 7:11am
Msg #402758
David & OU, Pls explain "volume" that will create a reason
to take a fee that is not profitable? In the SA business, I can only see "volume" being profitable if one signing streamlines into another in the same vicinity. Otherwise, it's a chance to double your short margins or losses.
Thanks.
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Reply by CopperheadVA on 11/4/11 8:36am
Msg #402763
Re: David & OU, Pls explain "volume" that will create a reason
Very true, Brenda, and even then one of the loans in the same vicinity can get canceled or postponed and then there goes your streamline profitabilty...
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Reply by OU_Stoops on 11/4/11 11:36am
Msg #402786
Re: David & OU, Pls explain "volume" that will create a reason
In most cases I will not take anything less than $100.00. As far as lowering fee for volume. If I can lower my fee by ten dollars and I am able to gain an extra 10 closings a month from that client, its more money in my pocket. Therefore I will give up a few dollars a file to insure that I get those additional ten files. Does not work for everyone and it really depends on the lender, coverage area, etc.
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Reply by LKT/CA on 11/3/11 9:51pm
Msg #402744
They called me on Monday or Tuesday for a Friday evening signing, said I was the closest to the borrowers. I asked where the borrowers were located - scheduler said she "didn't know". I asked how she knew I was the closest to the borrowers if she didn't know where they were. She says my zip code popped up as being the closest.....HUH!?!?!?!? You don't know where the borrowers are, but you somehow know I'm the closest to them?!? LOL!
I told scheduler I needed to KNOW where the borrowers were located. A city normally 30 minutes away any other day of the week could be 2 hours away in Friday evening rush hour. And if it's a city on the way to Las Vegas - like Devore, Hesperia, Apple Valley, Victorville. No way ! I'd be lucky if I made it up the Cajon Pass on a Friday evening within 6 hours.
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Reply by desktopfull on 11/4/11 10:28am
Msg #402773
Generally, Low-baller's are offering $45-65 w/edocs. n/m
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Reply by NJDiva on 11/4/11 11:14am
Msg #402779
Generally, Low-baller's are offering $45-65 w/edocs.
Agreed DTF! (Hi, btw  )
But I would also like to include, that in my opinion, $45-65 should go up to $85-90 (though I have been known to take $90 in all honesty. I have a Co. giving me 10-15 closings a week at $90. That's upwards of (and over) $1,000 a week from ONE company. I must admit that this year, the number of closings a week has decreased to an average of 6-10, but it still works for me.
Additionally, I do not travel over 20 (MAX 25) miles from my home. My car get's 30-33 mpg, I get my paper for free (hubby works for a printing company and because he got his pay decreased, the co makes up for it by giving him the paper for me.), obviously I get my business cards and marketing materials for free. So because of those savings, I am able to work that into my business plan.
With that said, I still try not to accept anything lower than $100. It works for me, keeps me busy but yet I feel that I continue to uphold the integrity of this industry.
If we can all stick together and support each other in at least those standards, we will continue to be a viable industry with SOME money in our pockets and not all, or most of it, in those of the SS's & title co.'s.
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Reply by HrdwrkrVA on 11/4/11 11:17am
Msg #402782
If you take $90-$100 from a Title co($150 & up being the
usual), what do you take from a SS (whose fees are usually $100)????
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Reply by NJDiva on 11/4/11 11:21am
Msg #402783
Are you talking to me? If so, I answered that and
explained how it figured into my business plan...
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