Posted by 101livescan on 12/20/12 9:09am
Msg #447197

Tis the season for lowballing?

Wow! Turned away a lot of work yesterday from companies who have completely lost touch with reality. One package, sellers, had four notarizations. They were offering $50! WHAT? Thanks, but no thanks. They came back and met me at 95. Okay, then some other SSs called who want to pay under $100 for edocs, and they don't pay their notaries for 60 to 90 days.

What's with that?

I hope you'll all hang on to your principles and say no to low ball companies and demand earlier payment. After all, they are paid immediately on closing/funding of the transactions.

Have a great monthend! yearend!

Reply by Linda_H/FL on 12/20/12 9:12am
Msg #447198

You man $100 and 60 days to pay isn't reasonable?

Hrrmm..is that the choir I hear?.

Reply by Jessica Ward on 12/20/12 9:53am
Msg #447204

I think their "regular" notaries are elsewhere

Seasonal jobs, vacation, visiting the grandchildren, whatever. Whomever they usually call is unavailable so they're going back to the drawing board, and taking chances calling on signing agents who are out of their league.

I'm getting calls from companies I NEVER work for... even some of the notorious-I-can't-believe-anyone-works-for....

I laughed out loud a couple of days when one of the notorious companies sent me an email yesterday (afraid to call?) asking me to go three counties away in a snowstorm for $50 for a refi with E-docs. My reply: "Don't ever e-mail me again."

Reply by Eva75Eva on 12/20/12 10:12am
Msg #447207

Lowballers galore lately. I've turned down at least ten this week. This is even coming from what used to be well-paying companies. It's like everyone's on a budget this year. Weirdest December ever!

Reply by sanjqnvly on 12/20/12 11:04am
Msg #447215

Even the GNW has become very low balling!

Reply by NVLSlady/VA on 12/20/12 11:22am
Msg #447218

<<hang on to your principles and say no to low ball companies and demand earlier payment>>

That's for sure. I discovered only yesterday when I had to bring a SS check to my bank for CASH that slow pay is NOT going to work anymore. Normally, I'd deposit and get on with life; but I really needed the cash so I brought to teller who said 'no-can-do' "we cannot cash checks made to a business." Huh, but it's MY company and this is my bank/my business account. When I asked about float or over-draft until check could clear, I was told that they do for Retail accounts - and not for business accounts. Of course, I wasn't buying that. I went to another branch and was basically told that biz accts are evaluated individually on "receipts."

Nope. Had to deposit. I had waited long enough as it was for the payment. Guess I have to change my invoices to Make Payable to: My Name

Thank goodness for gracious friends

Reply by jba/fl on 12/20/12 11:26am
Msg #447219

And that is why I do business in my name. Learned that long ago - can't go to banks w/business check, only to me. I don't want to incur $35 bounce check fees....if I have problem getting payment, I know there is a problem with getting bounce check fees as well.

Reply by NVLSlady/VA on 12/20/12 11:36am
Msg #447223

Oh my . . . please don't give me anything else to worry about! That check MUST clear (think thin, thin, thin, thin . . .)

Reply by ToniK on 12/20/12 12:07pm
Msg #447226

Interesting. Didnt know that. But my business banking brach is awesome. They know me by first name and one time I had deposited about $1200 worth of checks and it wasnt to clean for another day. Walked right into my bank and they released funds right on spot. I love my bank. They go out of their way to accomodate businesses..

Reply by JanetK_CA on 12/20/12 3:50pm
Msg #447274

I nearly always do my deposits in person at the same branch for that very reason. All the staff there know me. I also request checks be made payable to my name. I had a general notary check be rejected recently by a different branch because they had cut a check before I got there, payable to my business name instead. I have several accounts and could have worked it out, but didn't have time, so I just waiting until my next deposit at my usual branch. Not a problem at all. Also, thankfully, I routinely get enough cash from GNW that I never need to cash any checks received. In fact, I'm depositing cash from time to time, since I pay most things by credit card. (Helps me keep better track of expenses.)

Reply by CarolF/NC on 12/20/12 12:00pm
Msg #447225

Re: Trying to Hang On, but....

more and more of the companies I work with are lowering payment fees and passing me up, so someone in my area is taking all these jobs for less. If this keeps up, I will soon be out of business.

Reply by Eve/VA on 12/20/12 12:11pm
Msg #447228

The same is happening with me

but I refuse to give my work away. Fortunately, I have another source of income.

Reply by ikando on 12/20/12 2:15pm
Msg #447252

Re: The same is happening with me

Eve, I'm like you. I also have another business that keeps me covered.

I've been getting calls from companies I haven't heard from in 6 months to a year. The one company wanted me to travel for a fee half of what I was getting from them before. The second proudly announced they had raised the fee by $20 because it is a distance. Yea, 100 mile RT for $95 doesn't do it for me. They also used to pay better.

I know times have been difficult, but geesh, pay me what you used to pay me since I'm the one dealing face-to-face with your borrower. My job hasn't changed, and I will not take less than I did when I started in 2004 and the docs were overnighted to me. Thank you very much, but 8+ years of experience should be valued, not discounted.

Reply by janCA on 12/20/12 2:25pm
Msg #447254

Raising rates/2013

I'm raising my rates to some companies come 2013. I will be sending notices to them the first of the year and if they respond negatively to this, I'm going to be taken out of their database. I only want to work with companies (SS and title) that I don't have to haggle with. I'm in their database at a certain rate and I can say, send it on over. I don't want to have to talk about fees. unless, of course, if it's someone I haven't worked with before. No new SS's either. They have to establish themselves first.

Everything has gone up in our business and in 2013 we will see an increase in all things necessary. Food, clothing, etc. Hang on, It's going to be a bumpy ride!!

Reply by ToniK on 12/20/12 2:27pm
Msg #447255

Re: Raising rates/2013

I have already raised my rates. Keeping it going for 2013. Helped me to weed out the companies I dont want any parts of. Now getting steady business from the top companies meeting my fee and definitely no haggling here. I state my fee either you accept it or find someone else. No skin off my back.

Reply by 101livescan on 12/20/12 2:30pm
Msg #447256

Re: Raising rates/2013

Thank you for that, Jan. I hope everyone will hold to their rates at least and not cave in.

I heard the other day that another signing service is coming on the horizon in 2013 affiliated with an escrow/title company in Orange county, CA. Just what we need, huh, another middle man to cut the cheese block in half or more?

Well, by holding strong together and not working for cheap, we should all be able to carve out a living and be the CEO's of our enterprises and not let others tell us what we can earn.

When was the last time you drove through In and Out Burgers and told them you'd give them $2 for their hamburger, not a penny more?

Reply by JanetK_CA on 12/20/12 3:59pm
Msg #447278

Re: Trying to Hang On, but....

I'm finding clients lowering fees, as well, (some for just certain clients) but the impact has netted something other than what I expected. I seem to be getting fewer large packages than I did before. Curious, no? I can't prove it (and it may turn out to just be a coincidence), but there seems to be a correlation between mega packages and lowered fees. I couldn't be happier about that!

The only thing I'm certain about is that this trend will not put me out of business. I don't intend to be sitting around waiting for the phone to ring, if it comes to that. Having a plan B is a great idea, but if you want to continue to be in this business, it's probably a great time to be proactive about your plan A (if that's what this is...)

Reply by bfnotary on 12/20/12 8:17pm
Msg #447309

Re: Trying to Hang On, but....

Carol stick to your prices, you won't end up out of business. When they go do their income taxes they will be the ones out of business. When they realize how much in the hole they are. Gotta stick to fees in order to be able to pay taxes, and all the expenses involved with our profession. The ones that accept those fees, will soon realize what a huge mistake that was when they do taxes.