Posted by svazquez on 2/22/13 12:50pm
Msg #457146

Fees-IL

What is the lowest fee you would charge for edocs within 30 miles if you really needed the money?

Reply by Pam/NM on 2/22/13 12:54pm
Msg #457150

I would calculate the amount of profit I need and deduct all costs involved (paper, printing, gas, wear and tear/depreciation for computer, printer, vehicle, etc...you may have more expenses...insurance, etc...) and plan accordingly. You are the only one who knows all that. How many other signings will you be missing out on for that extra xx hours of driving?

Reply by James Morgan on 2/22/13 12:55pm
Msg #457151

In California, $125/edocs, no and holding nor fax backs. I'm assuming that's 30 miles one way.

Reply by notary/OR on 2/22/13 12:55pm
Msg #457152

If you have other signings so you are out in the general area anyway then $90 but ANY signing company worth working for will pay you $100. If they won't then take it from experienced notaries, you probably don't want to work for them.

Reply by notary/OR on 2/22/13 12:57pm
Msg #457153

Your best responses might come from IL notaries

Charges might vary per state. In my area, I don't have to deal with traffic. If I did then I would stick to CA's fees.

Reply by Moneyman/TX on 2/22/13 2:23pm
Msg #457183

Other signings in the area wouldn't change my fees.

Any signing appointment can cancel. If you book 3 at a lower fee because they are "close" to each other and have 2 of them cancel, or reschedule, then you would have to drive all the way out there for much less than you would normally charge for the single one that didn't cancel.

$100 for 60 mile round trip + time at the table and other time involved??

My charge for a request like that starts at around $160, or more, depending on specific factors. I would charge the same if I had another company call me to schedule a signing for the next door neighbor of that one.

Reply by Lisa Cirillo on 2/22/13 1:04pm
Msg #457157

For me it depends on whether or not they want fax backs, distance of travel, number of pages in package.

Usually for me to travel that distance it's $125 with minimal or no fax backs. I like to try and get those 30 mile away jobs when I'm in that area so I don't have to do 60 miles round trip just for one closing. Good luck. And I agree with one of the other posts, fees do vary from state to state.

Reply by ToniK on 2/22/13 1:04pm
Msg #457158

umm just because you really needed the money doesnt mean the money is going to be there immediately...you wont see that money depending on the company so you could be looking at 14 days (if you working with really good clients); 30-45 days. And if you're desperate you probably will take assignments from companies who pay 60-90 days or might never pay you....

Either way youre still waiting for your money....

Reply by svazquez on 2/22/13 1:16pm
Msg #457166

I am aware that payment is usually 30 days or so out. Most the closings I have done have offered 100-125 for edocs. Then I had one that called today and for $50 and I didnt take it. Then I thought well I do need the $ so maybe I should have. I just am wondering if I will end up hurting myself in the long run if I accept lowball fees at the beginning.

Reply by Lisa Cirillo on 2/22/13 1:18pm
Msg #457167

You could very well hurt yourself with accepting lower fees. If word gets out, you're sunk. Not sure if these companies talk to each other or not but just in case. I would stick to my fees of $xxx as much as I could. I've done work for less but it has to be something very simple, like those 10-12 page structured settlements where you basically notarize one or two signatures and it's 3 miles from your house. Anything other than stuff like that, I stick to the $100+.

Reply by Moneyman/TX on 2/22/13 2:58pm
Msg #457193

Yes, you will shoot yourself in the foot if you start accepting lowball fees (e.g. $50) for the local signing requests and especially for the ones with a 60 mile r/t range.

1) your fixed costs are fixed, regardless of what you charge per signing
2) certain other overhead costs can vary (gas, paper, toner, etc.), regardless of what you charge per signing
3) it's nearly impossible to go up on your fees (from $50 to $125+) to a company that has been getting the "blue light special" sale price of $50 per signing
4) don't confuse staying busy with actually making a profit
5) don't undervalue your time, talent, knowledge, and skills. If you don't value what you bring to the table, why should any company value you and your services higher than you do?
6) know who is your target market and customers and more importantly, recognize who is not -- don't waste time chasing companies that are not your customers

... jmo

Reply by Linda_H/FL on 2/22/13 3:10pm
Msg #457197

I love this statement:

"don't confuse staying busy with actually making a profit"

Oh so true!!!

Reply by JanetK_CA on 2/23/13 11:38pm
Msg #457402

Not only that, you might actually lose money. Doing a quick calculation, just looking at today's gas prices and my prorated car payment, a 60 mi RT (not counting registration, insurance, etc.) would cost me almost $25. Add in your printing costs and there's almost nothing left for taxes and other fixed costs, let alone profit.

Reply by Stephanie Santiago on 2/22/13 5:47pm
Msg #457228

Re: Fees-IL...YES, you will hurt yourself.... n/m