Posted by grapebed on 2/26/13 5:46pm
Msg #458020

TC threatens to penalize me if I ask for more $$$

A large T/C has always met my fee, paid promptly and are great to deal with. Well, there must be a new sheriff in town. The new fee schedule:

$50.00 Base to include travel
$25.00 edocs

If I continue to ask for more money, it will duly be noted on my account and I may be dropped from the approved list. Well I am not doing closings for $75.00. They apparently are having no trouble finding notaries for $75.00. In the past, this account has generated an average of $1,000 per month. I dont know what to do. Any ideas?

Reply by MW/VA on 2/26/13 5:48pm
Msg #458023

Forget them. I've been at this for a no. of years, and the

cos. I do biz with changes. Don't be afraid to dump the lowballers. Yes, they can get someone to do a signing for that fee, but they're going to get what they pay for.

Reply by ToniK on 2/26/13 5:58pm
Msg #458026

I agree

In the last year I went through about 4 companies who provided over $1000 a month and then I havent heard from them because they found a notary who will accept half what I charge.

But always when one of my big clients drops, I pick up another one. So I have 3 words for you: MARKET MARKET MARKET!!!

Reply by MikeC/TX on 2/26/13 6:07pm
Msg #458029

If what they are offering you will not bring you a profit, why would you even consider accepting these offers? They may tell you that they will give you more volume if you accept the lower fee, but the only thing more volume is going to do for you at a rate that doesn't make you a profit is make you go broke faster.

Only you can determine the minimum you need to make a profit. If they refuse to pay you at that level, say goodbye, put them in your rear-view mirror, and continue looking for better clients. It's not even worth the effort to argue with them

Reply by Donna McDaniel on 2/26/13 6:19pm
Msg #458033

My advice is to wait it out.

Give them a month of dealing with $75 NSAs and they will be back.

I've had that same thing happen. I sent an email politely declining the new fee schedule and let them know that I would available if they needed my services. They now call me often and pay my fee.

Reply by BossLadyMD on 2/26/13 6:30pm
Msg #458035

That's silly. I wouldnt want to work with them anymore. n/m

Reply by Lee/AR on 2/26/13 6:47pm
Msg #458037

That is chump change

Find new clients. If you were to accept this, it wouldn't be just too long before they were telling you their 'new rate is $60' or something equally absurd. Stick to your fee, let them wear out the few fools who may accept this and know they'll be back and willing to pay your fee. Also, post this info in SC where WE can make a difference.

Reply by Susan Fischer on 2/26/13 9:13pm
Msg #458059

So, now you would complete 13.3333 jobs for that $1000. Gas

is up - alot - and everyone's costs are rising.

What I did was raise my prices based on a budget-tightening analysis; always went the extra mile in practice and marketing; paid off debts; and stayed in business to retire after almost 10 years: Retiring from so many long, interesting miles, so many smiles - a perfect fit for a perfect time = a perfectly splendid 'last career: "Your borrowers are my neighbors" was a good motto to live up to.

Oh, the other thing I did was pay my full self-employment contributions to Social Security and MediCare every year, [which, as planned, increased my SS claim at 70 when my late husband's ends. MediCare/Supplemental premiums rock.]

Anyhoo, point is, Be A Business. Get good financial & tax planning advice. Keep prices real and carefully consider "volume" as a promised "benefit" of lower pay. It rarely proves true.

Reply by Moneyman/TX on 2/27/13 12:07am
Msg #458079

Threaten to drop them as a customer if they are not willing

to pay your fees and start showing you some respect, is what I would do if it were me.

When was the last time you were able to tell a tax preparer that you will only pay them $30 for a service they charge $100 and expect them to do anything other than give you the one finger wave and show you the door?

Personally, I would drop them for their "threat" alone. It's unprofessional and it shows that 1) they have no loyalty to you , and 2) that they do not respect or value you as a professional nor as a person that has helped them service their customers that are in your area.

I would also charge an additional $25-$50, above my top fees, on any future signing requests from them. If they were to call you after you dropped them, they would be doing so only because they were in a bind and want you to be their "emergency only" NSA, while hoping you will "cut them a deal" for your services. IMO, why bother giving discounts to one shot customers that don't respect you in the first place? You would only be cutting yourself out of money for nothing. They would still only call you in an "emergency".

Reply by GOLDGIRL/CA on 2/27/13 12:48am
Msg #458085

I would be totally blown away if a hiring agency that Ihad been working with actually said that to me.

I certainly would never work for them again. What bas*****! They would be in my rear-view mirror and out of my memory bank forever. Seriously. I wouldn't give them a second thought, $1,000 a month or not.

In any case, I'd respond that their lower fee will be "duly noted" in your accounts, as well, and that they have been dropped from your "approved list." Additionally, any possible future calls asking you to do signings for the new loooooow lowest of the low fee will result in penalties on your part, too. Such as revealing their name to warn other notaries of their horrendous behavior and rating them appropriately in SC.

Reply by Marian_in_CA on 2/27/13 1:01am
Msg #458088

Why would you *want* to be on their approved list?

To me, that's like being on the VIP list of a trashy dive bar... what's the point? Not exactly something to be proud of, you know?

Reply by JanetK_CA on 2/27/13 2:30am
Msg #458091

I've been down that road plenty of times before and like you, those companies haven't had any trouble finding notaries to take those lower fees. I just stopped hearing from them unless they were desperate. And a funny thing happened along the way... Lots of my headaches left with them. So far, I've always eventually found other companies to fill the void and my average signing fee has gone up over time.

Just keep looking forward instead of back. I can be a tough position to take, but in the long run, you'll probably be happier for it.

Reply by MistarellaFL on 2/27/13 7:45am
Msg #458103

If you don't want to burn that bridge just yet

Use these phrases: What is the fee for this one? I'm sorry, but I am not available ___________ (for whatever time/day is asked for).
When and if they decide to pay a commensurate fee, you can begin accepting again.
If not, no one has been offended.

Reply by SharonMN on 2/27/13 1:55pm
Msg #458203

What would you do if the reverse happened? Signing service has always called notary X, who performs 50+ signings a month for them for $40. Notary X advises that she has raised her rates to $100 per signing. It's obvious to me that if neither wants to budge, they should "drop" each other. Not threatening, just renegotiating terms of their relationship.