Posted by George Tull on 4/4/13 10:33pm
Msg #464504

Great To Cheap

Hi there. Last night a new company (new to me) called me to do a last minute asset purchase signing literally in the swamp. It was 30 pages, single print, all to be faxed back. I figured that I would throw them a bit of a high number ($175) because I was tired, but they jumped on it.

Well it turned out that the signer was highly disabled, so it took a good hour to complete the docs. My dumb fax machine was on the fritz so I had to do some late night running around for help, but it all went well. This company that hired me was a bit of a pain in the butt though. I'm guessing they blasted me with about 15 total emails for this one job, and at least 10 phone calls. Can you say micro-managing? But all's well that ends well. I got my nice fee of $175, and was looking forward to more calls from them, even if they felt the need to hold my hand.

Today I got another call from them- three in fact! They threw three different signings my way. On the first one I quoted them $150. She told me their normal rate is $40. No call back on that one. On the second one I quoted them $125, and again no call back. On the last one I quoted $100. You guessed it, no call back.

I do this to make a few extra bucks on the side, and I actually love the chaos involved, but dang I just can't make myself go below $100 when I know I will be dealing with their phone and email blasts, faxing back 30 pages, and running to the post office.

I'm sure they will call me again tomorrow. Unless you guys would suggest differently, I'm not about to go below $100. I like my $175 a lot better, but at the same time I don't necessarily want to do nothing (on the side). Any suggestions?

On a side note my general notary work has been going really well recently. Somehow I got into a group of guys that love to buy and sell boats, and I've been doing a bunch of bills of sales for them at $75 a pop. It's way more fun listening to their fishing stories too! Does $75 sound about right for that, and auto transfers? One guy told me I should be charging double, but I'm not sure if he was joking or not.

Thanks for reading all and please throw me your opinions!

Reply by jba/fl on 4/4/13 10:45pm
Msg #464505

For the signing agent stuff - I wouldn't go less than what you propose, and a bit higher quite frankly.

For the Bill of Sales - I don't know what is involved, but sounds simple enough that $75 is good. You really can't charge for listening to their tales, can you? And to raise the price after starting across that river - a scorpion trick to be sure.

Auto transfers? no clue of what is required....we no longer do that in FL....the state does that.

Sometimes it isn't the notarization, it the getting there...travel fees, tolls, etc. Don't short yourself.

Reply by George Tull on 4/4/13 10:55pm
Msg #464506

I've never done any signing agent work for under $100. Now if a company could keep me running all night, maybe it would be something to think about. With the amount of hand holding this company did though, I just can't imagine going under $100. You're right, that's probably too low.

On the bill of sales, it's easy. Takes me 10 minutes tops. No I don't charge for the stories, but they're fun! I'm gonna try to go fishing with one of the customers next weekend (amazing offshore boat). I love those guys. Yeah I always feel weird quoting. I need to smarten up and figure out a solid rate to charge across the board for everyone/everything.

The auto transfer is really just doing a bill of sales as well. 10 minutes max, unless we start telling stories.

Yeah the travel can get you for sure. I don't want to be a guy that works for free, but I also want to work (on the side). It's a strange balancing act to figure out, and since I don't have hundreds of contacts yet like you guys, I'm trying to figure it out.

Thanks for sharing!!

Reply by sueharke on 4/5/13 9:23am
Msg #464545

If a general notary signing job is within 1 mile of where I live (5 minute drive), I charge a $10 travel fee plus the notarization fees. Otherwise, the travel fee is higher.

Reply by 101livescan on 4/4/13 11:03pm
Msg #464509

Hey for a rookie, I think you're getting it together. Good on you. I like $175...sounds like a great number.

I know that if I were accepting $50 to $100 for some of the work I do, I'd be kicking myself all over the planet, cuz this is no cakewalk, and living in CA is getting more and more expensive.

Reply by George Tull on 4/4/13 11:18pm
Msg #464510

Trying to get it together anyways.

They can call me 100 times for $175. A lender that I have worked with for maybe 4 months pays $250 for a refi with no fax backs. I would do anything (well, not anything) for those guys. It just seems like I can't get enough work out of these good companies to keep me happy.

What's funny, to me, is that the low paying jobs ($100 or so) that I have taken seem to create 3 times the headaches as the jobs from my best lender. I need to find a lot more great companies to work for!

I have a friend that lives in LA. He loves to visit me because he says that he can go nuts here and spend less in a week than what it costs for him to live for a day in LA. I know the average salary adjusts for the cost of living where you are, but man that is an expensive state.

Thanks for the advice!

Reply by HisHughness on 4/4/13 11:38pm
Msg #464515

Don't count your $175 before the check is hatched. n/m

Reply by George Tull on 4/4/13 11:46pm
Msg #464518

Re: Don't count your $175 before the check is hatched.

Good point. I checked them on here and that other site (why can't I mention other site?) and they seem to pay. The only complaint is their terms. They pay at least 30 days out. If the signing was April 3rd, they pay on June 1st. As long as they eventually pay, that's fine by me.

Can't do much more than what I did, right? Just read other guys' feedback and put some faith into their reviews?

Reply by Anita Edwards on 4/5/13 10:50am
Msg #464557

Re: Don't count your $175 before the check is hatched.

My thoughts on this on every read. I've had it happen where you think, OH BOY, THIS IS A GOOD ONE. If you have no intent to pay it doesn't matter what you agree to pay.

Reply by Linda Hubbell on 4/5/13 9:39am
Msg #464550

Couple questions and observations

1. $175 agreed to for last minute signing, yet $125 and $100 fees rejected subsequent to that? IMO you're going to be very lucky to get paid that $175. They hooked you on the first one cuz they needed someone desperately - they can *agree* to pay anything - especially if they're desperate - doesn't mean they will.

2. Name the company or these posts are really no help at all.

JMO

Reply by Linda_H/FL on 4/5/13 9:42am
Msg #464551

Should add a third observation

"I'm sure they will call me again tomorrow. Unless you guys would suggest differently, I'm not about to go below $100. I like my $175 a lot better, but at the same time I don't necessarily want to do nothing (on the side). Any suggestions"

Based on the other calls and their reaction to $125 and $100, and the fact that this is a new-to-you company, I wouldn't take another assignment from them until they paid the outstanding $175, and paid it timely.

JMHO

Reply by Priscilla Witman on 4/5/13 10:24am
Msg #464555

The MO sounds like Nations Direct. n/m

Reply by George Tull on 4/5/13 11:30am
Msg #464561

Re: The MO sounds like Nations Direct.

You're very smart Priscilla.

Reply by Priscilla Witman on 4/5/13 12:19pm
Msg #464570

Not so much smart as once bitten. :-) n/m

Reply by George Tull on 4/5/13 12:29pm
Msg #464572

Re: Not so much smart as once bitten. :-)

Share please? Issues with payment, hand holding or both?

Reply by Priscilla Witman on 4/5/13 12:45pm
Msg #464578

Sent you a pm.

But everyone already knows the gripes. They are VERY hand-holdy, call incessantly, and their offers are pitiful. They were my first signing once upon a time. Good experience in learning to negotiate a fair fee for your work and stand firm.

Reply by George Tull on 4/5/13 1:08pm
Msg #464583

Re: Sent you a pm.

Thank you! Yes indeed, I've never had so much communication for a pretty simple signing. Was thinking that I would need a full time secretary just to talk to them!

Reply by Lee/AR on 4/5/13 12:43pm
Msg #464576

Re: Great To Cheap--Happens ALL the time with ALL co's.

Depends upon how desperate they are at the moment. Just stick to your fees and don't worry about those that you didn't get. You try to match your fee to what they're willing to pay THIS TIME and you'll soon be doing charity work.

Reply by George Tull on 4/5/13 1:06pm
Msg #464582

Re: Great To Cheap--Happens ALL the time with ALL co's.

Appreciate the advice bud, and will follow it.

Reply by HisHughness on 4/5/13 1:42pm
Msg #464597

Re: Great To Cheap--Happens ALL the time with ALL co's.

***You try to match your fee to what they're willing to pay THIS TIME***

Fees that are reduced to levels acceptable to low-ballers are never "this time" fees. They become your standard, and the company expects it <every> time.

Reply by Priscilla Witman on 4/5/13 2:35pm
Msg #464603

100% true. n/m