Posted by 101livescan on 2/2/13 10:11am Msg #453613
K-I-S-S
I've been reading for years about companies that don't pay, SoCal Signings, Insured Closings, SOX, Notary Direct, Genuine Title, The Closers, the list goes on, and some of these companies have been operating this way for more than 10 years...and that is because they always manage to find someone to hoodwink into working for them.
And of course the lowballers...
I've learned to not even talk with these companies...they go to voice mail. They are making $200 to $250 a file, and offering to pay $50, 60, 70, 80, 90? And we're doing all the work? EXCUSE ME? REALLY? So why even bother picking up the phone....market yourself to the companies who will pay you the entire fee.
Wouldn't it be novel if they couldn't find anyone to conduct their signings? And just because the company agrees to pay you a negotiated higher fee doesn't mean you'll ever see it.
True, there are some SSs who've carved out these nice little bargain basement arrangements with companies to do all their scheduling at say $150, you get 100 they get 50...why do we need the middle man to dilute the fees?
Well, some companies don't want to deal with scheculing.
I know for a fact that TCs don't like working with most ss's. One company I know in the CA Bay Area charges TCs $125, he pays his notaries $60, and these notaries' work is fraught with errors because they are not experienced.
I hope those of you working for Insured, SOCAL, Notary Direct, and others will rethink your marketing efforts and find a way to work directly with TC's starting with crafting your profile that will interest TCs to hire you directly.
12 years ago, I worked primarily with SS's and now only work for a dozen of the best ones. 95% of my work is directly with TC and loan officers. I challenge you to be more in control of your receivablss. TCs will pay within a week, sometimes the next day! Isn't that novel? SS's can take up to 90, 120 days or not at all!
I say, KISS. I hate chasing my money.
Reply by NJDiva on 2/2/13 10:22am Msg #453616
All I can say to that is...
AMEN CHERYL!
Reply by MistarellaFL on 2/2/13 10:45am Msg #453620
Sage advice from a long-timer!
Reply by 101livescan on 2/2/13 11:12am Msg #453621
Re: Sage advice from a long-timer!
Why, thank you, Misty! Cute.
Reply by jba/fl on 2/2/13 11:16am Msg #453622
Re: Sage advice from a long-timer!
Reply by Barb25 on 2/2/13 1:09pm Msg #453634
This is a 5-STAR Post
Very well said, Cheryl
Now if everyone does this. Wow.
Reply by Barbara___IL on 2/2/13 1:31pm Msg #453637
Great Post..and unreal applause. Love it!
Reply by Marian_in_CA on 2/2/13 1:32pm Msg #453638
Amen... very little of my work comes through signing services any more for this very reason. Most of them wont meet my fees anyway. The direct work is best.
Just in the last week, I had a borrower who had used me for GNW in the past, actually request me to handle their refi. Their mortgage broker called me up and asked me to handle it... we talked about the specific needs (there were some extended travel issues involved) and I quoted a price that I though to be more than fair... and I'm NOT cheap... I know my rates are high, but they have to be for my individual circumstances. Trust me, I'm not living high on the hog... I drive a 14-year old car and need to replace it soon ... but expenses are high. My quote was well over $250.
The broker said, "That's it? Sure, whatever you want! We would have paid a signing service more than that."
I was floored by that. Heh.
Even BETTER?? My check was cut the same day the loan funded and was sent to me inside a thank you card from the broker that included an additional gift card with a note about returning a "spotless package" to them. Paid, with a bonus in less than a week. Gotta love that.
Not all signing services are bad... and they have their place... but I try to avoid working for most of them. There are a few that I like... and a few others where I will only work with certain individuals or divisions... but for the most part? Direct, direct, direct. It pays better and faster and helps build your local reputation.
Reply by NJ_Notary on 2/2/13 3:04pm Msg #453657
Elle Woods would say... 2 Snaps GF..Boston by way of Bel Air n/m
Reply by Peter Jeute on 2/2/13 4:55pm Msg #453679
GREAT post! Couldn't agree more with this. There are some companies who treat me well and if I'm off from my part time job I do the signing. One company has me as their first call and I always say yes to them as long as I can but the checks show up twice a month! After joining NR I have gotten even more business but now I'm finding out that some are not so quick to pay and so I will have to start screening out these guys. When they call and try to tell me what MY fee is going to be for the signing I simply reply back with MY fee and what works for me. When I do follow up emails tracking down payment (biggest pet peeve!) and I get attitude back then they get tossed out the window for future work. Karma!
Reply by HrdwrkrVA on 2/2/13 6:21pm Msg #453689
I totally agree w/ everyone. I had worked w/ SoCal before I
found NotRot. Well, they shorted me $10 & when I finally got ahold of Lisa (she must have forgotten to screen her calls that morn), she acted like she couldn't be bothered over such a trifiling amount (took me a month of calling, emailing)...she would look into it when she had the time...blah, blah, blah. Needless to say I never heard from her ('though I continued to call), but the schedulers continued to call me! They have a bunch of different #'s, so it was hard to screen them. Finally I told them the same thing I told SOX: "sure I'd be happy to work for you as soon as you finish paying me what I'm owed (lie: NEVER MORE!)". Worked like a charm - haven't heard from them since! Good riddance to bad rubbish I say! I'm glad it WAS only $10 - & not $100 or $600! Beware & be forewarned!
Reply by GOLDGIRL/CA on 2/2/13 8:33pm Msg #453701
You're lucky. SoCal (Lisa) shorted me the entire fee (2x)
I do the same thing you do when they call using their mysterious phone numbers: Sure, pay me what you owe and then we'll talk. (Like I'd ever talk to them again under any circumstances). They mumble something and hang up.
Reply by Karla/OR on 2/2/13 10:42pm Msg #453716
Thanks Cheryl. I WAS relying on memory to remind me which SS's NOT to work with, but recently decided I needed to post a list on my Desktop that I can readily refer to. Now, if I am not familiar with the name given by the caller, I check my list on my Desktop and if it's not there, I check SC.
I appreciate the names you have provided, and just added them to my list. Thankfully I have not had to deal with them yet.
