Posted by CarolF/NC on 1/4/13 11:54am
Msg #448834
FEES Down/Low Volumne
One of my favorite well paying SS has been hitting me with offers $10 to $20 less than normal and the reason they provide is that they do not have the volumne of work for January which is their norm.
| Reply by Claudine Osborne on 1/4/13 12:01pm
Msg #448838
Just say NO to lowered fees.
| Reply by 1Notary1 on 1/4/13 12:02pm
Msg #448839
As long as some Notaries keep working for peanuts, fees will get lower and lower. That's the real reason in my opinion.
| Reply by Claudine Osborne on 1/4/13 12:08pm
Msg #448842
I agree...
| Reply by GOLDGIRL/CA on 1/4/13 12:13pm
Msg #448845
Re: FEES Down/Low Volume
Unfortunately, I think you're right, 1Notary1. SSs/TCs/Lenders/etc. are like sharks circling the waters ... as soon as they smell a low-ball notary, that's where they all head. And once word gets around that they can get these loans signed for basically nothing, it's like a feeding frenzy. Then they get it in their heads that the NSA world is brimming with idiots taking low fees (which it is, including many on this board), leaving notaries who just want to make a lousy $100, which was considered on the low-end 10-15 years ago, fighting to keep our heads above water.
Anyway, that's the way the signing business has been going and will continue to go, I believe.
| Reply by CarolF/NC on 1/4/13 12:23pm
Msg #448848
Re: I see both sides...
If they don't have their volume they are trying to make up for it with lower fees. Unfortunately someone took the last 5 assignments at their lower fees, which probably means I'll be off their radar for awhile(:
| Reply by Moneyman/TX on 1/4/13 1:14pm
Msg #448856
Or rather ...
If they can get you, and anyone else, to accept lower fees in Jan, why would they pay more for the same job in Feb-Dec?. Once they get you to accept the lower fees, imo, you will have a hard time justifying your previous fees. As a business owner, you have to be willing to say no and work on gaining true customers that are more than happy to pay the fees you charge for a very valuable service.
Expenses on our side continue to go up, including our self employment taxes this year, regardless of any other higher taxes that one might be hit with. Meanwhile the BO's are still being charged roughly the same amount that BO's have been charged for our type of services for years as the person actually preforming the valuable service is asked (or "told" by some) that in order for them to stay "in business" they must continue to accept smaller and smaller profit margins so that the middle men in the industry can keep their profit margins up. I don't know about you, but I am not in business to keep another business' profits up while devaluing my services and myself. I don't know a single successful retailer that allows its "customers" to lower their prices because the person claiming to be their customer didn't work that many hours last week, do you?
These companies that say they "only pay" whatever, if it is less than what your business model says you must have in order to make being in business profitable to you, are actually NOT in YOUR target market and are therefore, not a company that you should accept work for if they are not willing to pay for the valuable services you offer. If they want a garage sale priced notary, not a professional NSA, allow them to continue searching, imo. When they either cannot find them, or when they are in a bind, they will call you and will accept your fees.
For me, when those type of companies call, IF I accept the signings, they are for my full, top tier prices. I do not offer discounts to companies that do not honestly see value in paying a fair fee for a job that requires a professional, on many levels, except when they are in a bind. If they want to use me and my services as an "emergency only" type of contact, then they should pay a fee higher than my normal, everyday, fee. Much like one would pay for calling a professional out in the middle of the night on the weekend for an emergency instead of calling the same person out on Monday afternoon.
An important part of business is actually knowing who is and who is not your target market. Marketing to and accepting lower fees from people/customers that are not in your target market is one sure fire way of killing your own business. If that happens, the only one to blame would be yourself for not knowing the difference. High end retailers do not locate their retail outlets in the poorest part of town just as K-Mart does not have a location on Rodeo Drive in Beverly Hills, because they each know who their customers are and, more importantly, who are not their customers.
...jmo
Stepping off my soapbox now. 
| Reply by CarolF/NC on 1/4/13 1:18pm
Msg #448859
Don't Disagree which is why I'm on here and not at a Signing n/m
| Reply by Moneyman/TX on 1/4/13 1:23pm
Msg #448861
:-) n/m
| Reply by Lee/AR on 1/4/13 2:47pm
Msg #448890
10 Star post, Moneyman!!!
And all you're doing is telling it like it is. Take heed, those who take lowball fees, the man is right!
| Reply by JanetK_CA on 1/5/13 1:45am
Msg #449011
Awesome post!
Particularly loved this part:
"...I am not in business to keep another business' profits up while devaluing my services and myself. I don't know a single successful retailer that allows its "customers" to lower their prices because the person claiming to be their customer didn't work that many hours last week, do you?"
| Reply by Lee/AR on 1/4/13 2:05pm
Msg #448871
That 'reason' is the dumbest thing I've ever heard
Please note, I'm not picking on CarolF...but, geez...
My reply to SS: Well, because my volume is down because your volume is down, you need to pay me MORE so I can make the same money as I'd make in a high-volume month. Makes as much sense, huh?
| Reply by CarolF/NC on 1/4/13 2:12pm
Msg #448874
Re: That 'reason' is the dumbest thing I've ever heard
may sound dumb to you but it is reality. if they can get someone for less and help their bottom dollar they are going to. And all 5 of my signings got snaked up by someone who's willing to help their bottom line.
| Reply by JanetK_CA on 1/5/13 1:53am
Msg #449012
Re: That 'reason' is the dumbest thing I've ever heard
Yes, many companies are going to try to get the work done by someone else for less. But just as they have the right to hire whomever they want for whatever fee they can get them to agree to, we have the right to find ourselves other clients who will treat us better.
I've recently had some companies I'd previously done lots of work for let me know that they're having to reduce their fees. I told them that I was sorry to hear that, but that what they were paying me was already at the bare minimum that I am willing to accept, as my costs have been going up, not down. The net result is that I have more availability for other clients and my average fees have gone up. Also, curiously (this part may be a coincidence, but it doesn't look that way), the average size package that I've been getting has gotten smaller!
In the meantime, I'm still networking and trying to find time to market to other, better clients.
| Reply by MikeC/TX on 1/4/13 6:12pm
Msg #448936
It's not your monkey
Their reasoning is unacceptable - if they have a problem with volume, why should it affect you? And if you give in to the request to lower your fees, how do you think you'll be able to raise them again?
They're trying to take the monkey that's on their back and put it on yours. Sorry pal, it's not my monkey...
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