Posted by IAC on 2/29/12 11:49am
Msg #413507

Low fees

This past week I have been inundated by SS low ball fees. Who are doing closings w/edocs of 100 plus sheets for $70.00? With rising gas prices, which reflects in all notary cost, I will not stoop to low balling fees regardless of how close it is to my residence. It is obvious, there are notaries out there accepting the fee. Just remember, when your notary cost exceed your payments, don't come to the forum to complain looking for pity!

Reply by PublicTipic on 2/29/12 12:16pm
Msg #413509

That is ridiculous. For every lowball order I turn down, another roque signing company or title company will call me for almost double the amount. I have upped by fees by $10 with every one due to the rising cost of gas, supplies, paper, toner, etc. It seems to be working out as other signing agents have been doing the same. I love when a title company calls saying they can't find another notary. I flat out tell them because they pay low, packages are huge, and faxbacks are ridiculous. Calls are stilll coming in!

Reply by IAC on 2/29/12 12:46pm
Msg #413516

The sad part of this is , some of the companies are reputable companies are they that hard up that they have to nickel and dime the notaries. It is my understanding, SS bid on the business its must be when they have used up or are getting close to their assets they seem to think they will find a wayward notary. Notaries, WAKE UP, they are using you. We have to stick together.

Reply by NJDiva on 2/29/12 1:43pm
Msg #413521

AMEN AMEN AMEN, I SAY!!! n/m

Reply by NNJNOT/NJ on 2/29/12 4:34pm
Msg #413542

Just to make a statement based on the notaries taking the low ball offers...I am unfortunately one of them. And I can tell you, it doesn't seem as though I have a choice. I get a few closings from a few higher paying companies, but as a whole, I don't get 10 calls a month from quality TCs offering me work. Because of the lack of phone calls (And I can tell you, it's not due to a lack of effort on my end, I contacted hundreds of title companies who work in my area, but I don't get a lot of work from them), I don't have much of a choice but to take the low ball offers when they come. I need extra money, and this is how it comes. If you have any suggestions, by all means. Thanks.

Reply by ajd/pa on 2/29/12 6:41pm
Msg #413557

Received a call yesterday to do on about 18 miles from me, only about 30 minutes or so, but then I asked her what they pay. Here I was ready to rearrange my schedule when she popped out with $60 which was going to include faxbacks! It was all I could do to keep from laughing with indignation. I told her what my fee was and got the old "I will see if I can get that approved and get back to you". Of course, I didn't and was able to keep my schedule for the day.

Reply by garland/CA on 3/1/12 11:47am
Msg #413616

Might not be making as much as you think

It may help to realize that you really aren't making $60 or $75, or whatever the fee is. It is deceiving because you get a check for that amount and you don't see the expenses "deducted" that you incurred when you did the signing in the first place (gas, paper, toner, equipment, wear and tear on car, cell phone, taxes...and so many more others have detailed many times).

It would be an eye opener to get the check with your expenses deducted (so maybe you would get $35 or $40), which may also seem like a lot until you realize you worked perhaps 3 hours for that.

As independent contractors we are very cheap for companies. They don't have to pay our health insurance, sick leave, vacation, supplies, mileage. That is all inclusive in your fee. So you have to charge to cover that.

Accepting low ball fees is just giving everyone else a financial break - lender, title, maybe even borrower (loan officers sometimes like to make their customers happy by giving them a "break" - which may mean your fee).

Just keep telling yourself when those low ball fees come in: "I am not making any money if I take that one".

And it will free you up to take the better paying ones when you do get called. Not to mention make it harder for low ball companies to find notaries to take their assignments.

Reply by Jean Henke on 3/1/12 2:04am
Msg #413591

I have had the same problem in my area. I had 2 companies this week trying for $50 plus e-doc fee $25. Nations Direct is always trying to slide a $60 by including docs!!
The notaries out there that are letting these ss take advantage of us is really getting a bit disheartening.
Think about it by the time you drive (I live in a Metro area so it can be bumper to bumper) dilly dally with the customer signing and then off to the UPS/FedEx drop (as lately the ss arent paying for pick up, making drop off a necessity) it ends up being an average of 3 hours for a closing. I don't know about you but when my home office overhead clears the books and rising gas prices, car repair.... We might as well go work at a local office as a clerk with benefits and paid vacation!
Please......new and old notaries alike...please Just Say NO to these low ballers! And we can all make a livable wage............