Posted by HSH/WA on 4/4/13 11:23am
Msg #464422

Hard ball on fees

First call in over 3 weeks from my main SS, offered 85% of usual fee. When I pointed out that her offer was 15% lower than the last 100 loans I've signed for them, her response was, "do you want it?" Is this a pattern to play hard ball on fees?

Reply by jojo_MN on 4/4/13 11:28am
Msg #464423

Easy answer. Yes, but at my minimum fee of XXX. n/m

Reply by Lee/AR on 4/4/13 11:38am
Msg #464424

Yes, it is a pattern that they try because it often works. Once you've agreed to that, they'll coast along for a while and then try it again. Every dollar they convince you to give up is one more they have, when, in fact, they were making a profit at your higher fee or they wouldn't have been calling you for the last 100 loans you did. Just stick to your fee and you'll be fine. Give in and you'll be out of business and they'll just move on to the next one in line.

Reply by Yoli/CA on 4/4/13 11:44am
Msg #464425

Were you speaking to your usual scheduler? If so, and that was her exact and only response, sounds like she was having a bad day and/or didn't feel like offering any explanation or extending the conversation. Maybe she's just been given the directive of the lower fees and doesn't really like it herself.

Any which way, there's no excuse for rudeness. However, since you say this is your "main SS," you might consider calling them first thing in the morning, when they may be less harried and stressed, and inquire what's going on.

JMHO

Reply by jba/fl on 4/4/13 12:00pm
Msg #464427

And you might continue to market more so that you can let them go - go away.

Reply by ME/NJ on 4/4/13 12:07pm
Msg #464428

Lost one last week over $5 bucks

For me it was a matter of principal, yes I could of lowered it. Figured I could and did book the slot anyway. I'm sure the low rent notaries in my area picked it up and said wooo hooo. Someone not to far from me must be giving herself away.. She has picked up a large volume in last 2 months.

Reply by LKT/CA on 4/4/13 10:19pm
Msg #464503

Re: Lost one last week over $5 bucks

Just charge top dollar when you're called for the clean-up signing, LOL!!

Reply by 101livescan on 4/4/13 12:53pm
Msg #464440

I have asked a friend of mine, new to the business in the SF Bay area to post on the forum her experience with working for less than $100. I hope she does. She ran some acctg software on her first quarter 2013 earnings and determined she was running in the red or barely eking out a profit with all the costs factored in. That certainly gives credence to the theory that NSA's simply cannot continue to be beaten down on their fees. Doesn't make sense to give ourselves away so others can make a profit with their "volume".

You're better off to stay home and get out your marketing tools, get to work and find some new business. Hope you all have a great week. Just about getting my voice back after laryngitis I picked up at the SB Sunken Gardens Easter Service with my family last Sunday.

Reply by Gary Prichard on 4/4/13 5:03pm
Msg #464463

There are always services that are looking to use a discount notary. I set my own fees, taking into account the time involved in scheduling, printing, driving, signing, faxing, stocking paper and toner, maintaining office equipment, insurance, and auto expenses. $125 for a local signing. I add $25 for fax backs because it often takes time and delays completion of the job. Some companies balk, but come back after using a discount notary who hasn't figured out his/her true costs for doing business. If they cannot figure out their costs, they probably won't be able to handle the complexities of a signing. I've had to redo several signings for companies that originally passed my fee. I've found that every time I bend and go along with a lower fee, it ends up being a company that doesn't get their end right. If they cut the notary they likely cut other things on their end.

Reply by Tudi/CA on 4/4/13 5:33pm
Msg #464467

Absolutely correct! Well stated, Gary.

Reply by Tudi/CA on 4/4/13 5:47pm
Msg #464469

Yes, it's true. I thought I was making a pretty good profit, until I ran some income, expense, and tax reports for my accountant last week. I made the mistake of only looking at the income stream and thinking I was doing well. It was only after I ran the income/expense/tax reports for my accountant that I realized, "Hey, this isn't working for me!". I posted the software information separately under "Notary Accounting Software".
If anyone wants the name of the program, you can Private Message me.