Posted by Anna James on 4/4/12 12:57pm
Msg #416958

What is a going rate

I have been doing closings for R/E edocs now for two months. I am charging 75.00 to 100.00 on them. Am I under charging for my services, just wondering what the going rate is. Thanks for any feed back.

Reply by Yoli/CA on 4/4/12 1:19pm
Msg #416961

That's too low for me. However, only you know what rate allows you to cover ALL your expenses and still make a profit.

Reply by Teresa/FL on 4/4/12 1:38pm
Msg #416967

I agree with Yoli. I will occasionally do a cash purchas closing, buyer only, with edocs for $75. This works for me only if it is close by and not during a heavy traffic period.

I base my fees on an estimate of how much time the transaction will take, that's why I ask questions when I receive a call for a closing. It usually takes longer at the table when you have both the buyer and seller there, and if someone is signing with a POA the time estimate goes up even more.

You need to make sure you account for all your costs and price your time so you are making a profit.

Reply by JanetK_CA on 4/4/12 5:54pm
Msg #416991

And just in case some of the new folks who seem to be arriving here in droves lately miss the key point in Teresa/FL's post, when there's a CASH purchase, there's no loan, so the size of the package is a fraction of the usual loan package... Less paper/toner usage, less time printing and less time at the table.

Reply by NJDiva on 4/4/12 6:50pm
Msg #417000

Agree Janet! It's important to understand that there are

differences in the size of document packages. Do a Bank of America or FHA closing for $75 and consider going somewhere else to volunteer your time and waste your overhead. Or better yet, just pay them to get someone else to cover it for you.

Makes about as much sense to me.

Reply by FeliseSoCal on 4/4/12 1:56pm
Msg #416975

Me too. Way too low. Gas here is $4.50 per gallon.

Reply by BossLadyMD on 4/4/12 7:49pm
Msg #417006

There is no such thing as a 'going rate'...

People who use their full-time employer's office supplies & paper work for $50, $75. They like the volume!! Yeah right! No one can set your rate but you because only you know your expenses

Reply by JanetK_CA on 4/4/12 11:30pm
Msg #417013

Re: There is no such thing as a 'going rate'...

And people who do that are flat out stealing from their employer, imo, even if they've been "given permission" - unless they own that other business themselves. Someone is paying for those supplies regardless.

Reply by ArtG/KS on 4/5/12 8:38am
Msg #417023

Re: There is no such thing as a 'going rate'...

I always negotiate every signing according to several criteria. I have never believed in a one fee fits all. That will lead to FITS! I never use some elses supplies either. I have my own business and expenses are a factor.