Posted by ME/NJ on 4/9/12 5:56pm
Msg #417392

just got a huge shock from great client

Everyone will get the same shock when they get the call. Only grace is maybe 8 jobs a year.

Reply by 101livescan on 4/9/12 6:45pm
Msg #417399

any clues, what's up?

Reply by ME/NJ on 4/9/12 7:48pm
Msg #417404

Major fee cut, want to see how loyal people will be when they hear the new fee. Lets just say if they were anyone else the only one who take it would be the bottom feeders.

Reply by jba/fl on 4/9/12 8:06pm
Msg #417408

So you are saying that you did not take the fee offered? Are you also saying that the fee cut is substantial? Who is this company? TC or SS?

Reply by snowflake/PA on 4/9/12 8:09pm
Msg #417409

Yes. I'm actually curious to know who it might be. I will not be lowering my fees to "stay competitive."

Reply by bagger on 4/10/12 7:08am
Msg #417432

This is a contradiction.
They want to test your loyalty?
Sadly to say loyalty between vendor and client is a thing of the past.
Look at the airline industry and what happened to them.
They kept undercutting to the point all of them are going bankrupt.

I will quit before I work for a loss.

Reply by ME/NJ on 4/9/12 8:14pm
Msg #417410

I am doing this one job, future jobs very questionable

Fee cut is $75 dollars of my previous rate. This from a very well respected person from this board, it is out of her hands so I am told.

Reply by anotaryinva on 4/9/12 8:23pm
Msg #417411

Re: I am doing this one job, future jobs very questionable

$75 for a refi w/edocs or a $75 reduction from your previous fee? It's a shame either way, no matter how respected she is or was I wouldn't of taken it.

Reply by ME/NJ on 4/9/12 8:29pm
Msg #417412

Re: I am doing this one job, future jobs very questionable

My last fee was 125, the fee offered now was 50. I am not saying who, but when you get the call you going to go yikes when you find out who.

Reply by jba/fl on 4/9/12 10:44pm
Msg #417424

"when you get the call you going to go yikes "

No, I will state my rock bottom fee for rock bottom services and if not met, then good-bye. I will be simple and precise and not argue or be put out.

It is the nature of business that at some time there will be changes to anothers business that we may not like. I don't have to accept their change if there is no longer a 'fit'. I think that usually it means we become selective in the process and redefine our exact role. We may even leave the business except for our select few and branch into another area.

You know, there is not a huge buggy whip business competition these days. Those people didn't just up and die; they changed and adapted. Got rid of what no longer worked and emphasized what was working and expanded that area. Always in flux.

Reply by docs1954CA on 4/9/12 8:52pm
Msg #417414

You're going to do it for $50? You can afford to drop $75.00

? Are you kidding? I think you passed their "sucker Test", no offense intended....

Reply by ME/NJ on 4/9/12 9:08pm
Msg #417416

Guess I am a sucker for a well respected person in our

Industry, I would bet 100% who have worked for her would think long and hard before saying no for the first one. Like I said very questionable if I would continue to work at that rate.

I've been here many many years and trust me I don't work cheap, if I do something at a low rate I am doing a favor for someone and most times the respect goes both ways. My time, slot open hardest part will be the whole package faxback.

Reply by docs1954CA on 4/9/12 9:25pm
Msg #417418

I understand your loyalty, and I respect that.Unfortunately

it seems it's almost always a one way street.I would have to question if the drastic drop in fees is due to financial issues that could harm you in the end.$50 for e-docs,travel and faxbacks to boot would leave me in the hole on that job, and I wouldn't take it.

Reply by jba/fl on 4/9/12 10:46pm
Msg #417425

Re: Guess I am a sucker for a well respected person in our

I have declined her offer for what does not work for me. She knows why.

Reply by Donna McDaniel on 4/10/12 6:45am
Msg #417431

I will do it too....

She has been very good to me in the past, paying well over the norm for a 20-25 page signing. I will gladly help her out while she seeks out new clients.

Reply by Les_CO on 4/10/12 9:18am
Msg #417446

Re: I will do it too....

Well at the $50 fees you guys are accepting she should be able to find new clients easily. She can undercut the competition, by saying I use only experienced well respected notaries the same ones my competition uses, and pays $125, and charges you $150 for. However I only have to pay them $50 per signing, so I can do the same jobs for you for $75 give me all your business and drop that (good) SS. THANKS GUYS! You’re a boon to this business! By the way, in all fairness, did you call all the other people you work for and let them know your NEW $50 fee schedule?

Reply by Donna McDaniel on 4/10/12 12:45pm
Msg #417466

Re: I will do it too....

'By the way, in all fairness, did you call all the other people you work for and let them know your NEW $50 fee schedule?'

The answer to your asinine question is no, Les. This is the ONLY SS I would temporarily cut my fee for. As usual, you are blowing things out of proportion and spouting off about something you have no idea about.

The first time I worked for Rikki, I quoted her a fee of $125.00. Her reply was " I can't do that, you'll have to take $150!" I did six jobs for her last year. She has always given her notaries as big a slice of the pie as possible.

Also, she just lost her Mom and I am sure that has had an effect on her business, but I'm sure she will come back strong as ever with new clients.

Reply by anotaryinva on 4/10/12 2:01pm
Msg #417482

Re: I wouldn't do it

I must have missed a post that said this was a temporary price cut. I think I understand the concept, Walmart does it all the time, I guess they either get a discount from one of their suppliers or take a loss hoping customers will buy other things at a higher markup. My problem is I don't have other things to mark up and my costs across the board are increasing. Has far as personal problems go, they are personal. My mother died this year too, I lost business for about seven months and had to fly up and down the coast at least four times a month. As much as I'd like to, I can't change my fee schedule based on my personal issues.

Reply by Linda_H/FL on 4/10/12 4:14pm
Msg #417499

Although she has my deepest sympathies...I fail to see

what losing her mother has to do with cutting our fees...sorry, but that just makes no sense to me at all..

Reply by Riley/FL on 4/10/12 6:49pm
Msg #417515

Re: Although she has my deepest sympathies...I fail to see

The fees have nothing to do with it, Linda. I can emphasize with her situation, that's all.

Business has been very good for me this year and I am grateful. I would do one or two lowball (as some wish to view it) signings a month to help her get back to business.

I think it is now time for me to disembark this runaway train.

Reply by MW/VA on 4/10/12 7:44am
Msg #417434

I'm all for loyalty & respect, but a $50 fee isn't

acceptable under any circumstances. This will continue until no one takes these fees & the tc's have to face some reality here. I can't even imagine someone having enough nerve to offer that.

Reply by bagger on 4/10/12 1:01pm
Msg #417472

$75 loss per signing

Say 10 a month, that's 900 per year you are losing!

Reply by jba/fl on 4/10/12 1:36pm
Msg #417477

Correction: $9,000 per year n/m

Reply by bagger on 4/10/12 2:01pm
Msg #417483

Re: Correction: $9,000 per year

Whats a decimal point between friends?

Reply by Marian_in_CA on 4/9/12 8:38pm
Msg #417413

I don't think it matters who it is... this is business, and we just can't afford to operate by accepting those low fees. I don't care how much I like the person or company, if they can't meet my fee, then I won't do the job.

They say it's beyond their control... okay so? Why do WE have to take the cut because of something that is their problem?

It's awful when it happens to the good ones, but it's business. I won't operate at a loss to help some other company stay profitable.

Reply by snowflake/PA on 4/9/12 9:53pm
Msg #417420

Perhaps this is the "beginning of the end" for this client.

Reply by Les_CO on 4/9/12 10:17pm
Msg #417421

It doesn’t matter who calls me, or what their company is doing, or has done, or if the signing is across the street I will NOT do any signing for $50.Even with overnight docs. Even if they PROVE to me that the Title Company is only charging the borrower $50 in closing costs. NO!! NO WAY!

Reply by Les_CO on 4/10/12 12:18am
Msg #417428

PS

Just as a thought…I’ve been in this business from almost the start; I will be in this business (God willing) in at least the foreseeable future. I don’t need the money (I like it, and the job) so I could do closings for free just to get out of the house, but I won’t. I know what Title charges the borrower. I know what we do and how necessary we are to this business and how it’s evolved. I KNOW what we SAVE the title companies money, and MORE importantly ALLOW them to do business in place they could not before. (To sell Title Insurance, and do closings, out-of-office in States where they don’t have a brick and mortar presents) and this ability through US garners them MILLIONS of dollars worth of business that they would not otherwise get. Don’t sell yourself or the NECESSARY service you offer cheaply. REMEMBER our service is FREE to the Title Companies, and the intangible revenue we provide them is priceless. Without us no Signing Service can survive. Without us no title company without a physical (brick and mortar) presents in a particular State can do business.
If we ALL said sorry busy, can’t do this closing, for a month, more than half of the Title Companies and all of the SS would be out of business….THINK people! DO not except some BS story. Yes I know we get undermined every day by people that are supposed to be our allies but turn out to be only parasites (NNA) and by our own fellow notaries because they don’t grasp the reality of the situation, and are gullible. Next time you get a call for work…think about it…they NEED you or someone! Without US it just doesn’t happen. If they need me they will pay me a professional fee for a professional job done.

Reply by Lee/AR on 4/10/12 3:34am
Msg #417430

Well stated, Les...and so very, very true.

A perspective: Next time there's an Amortization Schedule included, take a look at the interest amount of the very first payment and ask yourself how much of that you're earning by 'making it all possible'. Realizing that there are anywhere from another 119 to 359 more payments still due, I just find it impossible to rationalize the constant downward pressure on our seemingly chump change part of the profit a loan generates.

Reply by ME/NJ on 4/10/12 7:59am
Msg #417437

HAD enough It is RIKKI everyone happy.. n/m

Reply by Calnotary on 4/10/12 11:13am
Msg #417455

Re: HAD enough It is RIKKI everyone happy..

I have received 2 or 3 calls in the past weeks from them. They start by saying:

Hello this is xxxx and I work for Rikki, can you do a signing on bla, bla, bla for 75 with edocs?


First of all I don't know who the h*** is Rikki and second of all I don't do edocs for that amount and for that distance.

I don't really care if she has the best reputation in the world. This is a business I am running and I am not here to operate with red numbers. So sorry.

If they want to make money, good!! I want to make money too.

But remember I am the one doing all the work, you are just making a call and maybe forward a couple of emails.
JMHO.

Reply by Anita Edwards on 4/10/12 8:58am
Msg #417445

I personally am tired of being the one that has to "eat" the cutbacks. No one else reduces their fees that I can see. The HUDs presented to borrowers show even higher yet closing fees. The requirements for accepting, signing and reporting on a signing are becoming more and more of a headache because these companies are hiring the bottom feeders to conduct their signings and they are making mistakes out the ying yang. So they put procedures in place to stop this from happening in the future. So we have more hoops to jump through for less money. Yet the people who should be benefiting from these cut backs are actually paying more. It's just disgusting. I also don't understand the word games played here. If we have news why can't we just tell it? Why the guessing games?

Reply by Les_CO on 4/10/12 11:39am
Msg #417460

Re: "Why the guessing games?"

I think as with all posts here we must consider the source. What is it Huge would say say ”Caveat lector”?

Reply by Linda_H/FL on 4/10/12 11:18am
Msg #417457

I have many responses to this whole thing

But one thought is...if this is what she's reduced to for fees, maybe she should have this one particular client direct-hire the notaries...in the long run this is not gonna look good for her - UNLESS she can build a huge database of $50 notaries - but that will be a temporary database - til next taxtime.

Reply by Sandra Clark on 4/10/12 4:17pm
Msg #417500

Re: I have many responses to this whole thing

Sorry I can't afford to lose money because I like someone....personal problems aside, we all have issues that affect our business. So my answer will be sorry, no can do. The good guys are still out there and I will work for them..........wonder if this is in ref to a posting by BlueInk earlier that was looking for a good signing service?

Reply by MrEd_Ca on 4/10/12 7:08pm
Msg #417519

OK, I give up ... who is RIKKI ? & is the company in SC? n/m

Reply by Kay/IL on 4/10/12 7:29pm
Msg #417522

Re: OK, I give up ... who is RIKKI ? & is the company in SC?

Rikki is with Inscribing Pursuits. And yes, her company is listed in SC.

Reply by MW/VA on 4/10/12 9:06pm
Msg #417536

I'm sorry to hear that. This is not the first bad news

coming out about some of my fav clients. Rikki always was the best in her treatment of us as notaries & her fairness & generosity in fees.
Kris Killinger at KC Signing was one of my first & best clients for almost six years. The biz is slim pickin's these days. They're in the same boat as we are--have to wait for the phone to ring with orders.
As stressful as this biz can get, it's been more so lately. Late docs, "iffy" situations, etc.
I dropped another good client a couple of weeks ago because their signings became too unreliable--scheduled but cancelled & not notified until hours after the signing appt., etc.
I'm also personally re-evaluating the entire situation & whether or not the biz is still viable. :-(