Posted by HSH/WA on 4/10/13 1:40pm
Msg #465218

Getting a few calls from new SSs, some with 4 stars

but the old ones who made up most of my business just stop calling as much. Can't lower fees because the net is already so low that any less would make it not worth doing. So, not sure how to get them back. Maybe it's a low volume market and time will cure all. Hope so.

Reply by Ronnie_WA on 4/10/13 2:16pm
Msg #465224

From what I hear from my contacts, King County is where the action is these days. Not sure if you are there or not. Escrow friends say they have less authority to outsource signings when volumes decline. Since King County is on the upswing, it will eventually spread to other counties as it has in the past. Rising prices make for more purchase/sales and refi's. If you are in an area where you could service King County, extend your service area if not there already. Boatloads of notaries but you'll get more buz.

Reply by JanetK_CA on 4/11/13 4:52pm
Msg #465354

Good point about escrow co's outsourcing signings. During the last major slowdown, many companies tried to do as many in-office signings themselves as possible. And some escrow officers were moonlighting, doing their own local signings after hours to make a few extra $$. Then there were the cases where former co-workers whose jobs had been eliminated were being given the signings - not to mention spouses and family members who had lost jobs.

I know I might sound like a negative Nellie on this issue sometimes, but a lot of people got hurt last time because they didn't see the handwriting on the wall. And when I hear people debating quitting jobs to go into this full time, it concerns me. We are in very different economic times now (hopefully) than we were 5 or 6 years ago, but as things continue to improve, interest rates will inevitably go back up. How many people do you think will be motivated to refinance to a higher interest rate? Certainly there will be some, but it's bound to have a negative impact on volume, which is already showing up in some quarters.

We may see more spikes in volume from time to time, as lenders change tactics and interest rates go through the inevitable fluctuations, but keeping an eye on long term trends can be very enlightening. All this is something that should be taken into consideration when re-evaluating business plans and deciding whether or not to get or keep a regular job. (Hoping for the best isn't going to pay your bills.) I just would hate to see people be blindsided by the next slowdown, if and when it happens. It was sad enough last time. And I realize that lots of the posters and readers on this forum haven't been in this business long enough to have a long term perspective and they haven't seen the downside of the roller coaster.