Posted by gotogirl on 1/1/13 11:20am
Msg #448352
New to Kern and Signings...
Want to hear from local Signing professionals serving Kern county area. In process of updating profile and recently graduated from Notary2pro, where it was suggested I reached out to and asked what thise of you are charging as a standard fee's. As well, what to post for copy, and travel fee's. Hope to have many replies and feedback what to post in my profile and avoid the pitfalls newby's like myself trip into. Already I have daily calls and have many fee's offered, all ranges and want to hear from you. Want to meet notaries to join me a as linkedin connection and to locally network with.
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Reply by Marian_in_CA on 1/1/13 11:56am
Msg #448357
Robyn...
Welcome! Well, I see that you probably lucked out, since I'm in Cal City, which, in our area...is pretty much right next door considering you live in the town with the nearest decent grocery store.  And, hey... out here, that's not saying much.
I think you'll find that you won't get a whole lot of local networking support here. A lot of the local notaries in the AV have moved in the last year. Some died and others just plain quit. I've been getting called in to Lancaster and Palmdale a lot recently, which is unusual.
My biggest advice? Do NOT take the cheap fees. Especially out here. Others reading this post may have no idea what I'm talking about, but they may not understand that we live in a wide open remote desert where the towns and people are pretty spread apart. We often have to drive AROUND military bases to get anywhere, get stuck by trains, etc. Especially right there in Mojave where you have few options of getting around. For example... the other day, the 14 was closed due to an accident... but do they tell you that ahead of time? Oh no! You get there and you have to turn AROUND. I had to get home by taking the 58 toward Edwards... and with all of the RVs and toy haulers heading in to town for the New year's bash and bon fire... a 20 minute leg of the trip took over an hour! All because there are few other options.
Know your expenses. In our immediate area, honestly, if you're taking under $125 a signing, you're losing money. And trust me, once the companies see "new blood" in the area they will start calling you and offering you the low fees right away because they know me. They know I'm not cheap. I don't apologize for that. I know my expenses and my profit margin and I don't budge from it. They know I'm one of their only options... so if they can find somebody cheaper...they will.
Here's the thing, and I'll be honest... I see a LOT of newbies pop up in the area. They take the cheaper jobs, excited to get started, and then they burn out fast because they realize they can't handle the work or that they're losing money. I don't mind if others take lower fees, to each their own... I just wish most of them would educate themselves better, because every single one of them have not lasted very long. At first, they think any money is good money because it's paying the immediate bills. That might be true...immediately... but you also need to think long term. You're not an employee. You're an independent contractor and you need to consider that 1/3 to 1/2 of the money you bring in is going to go right back to in TAXES. You need to consider that in your expenses. Gas and paper are not your only expenses. Paying your immediate bills is great, but where will you be in a year when the IRS wants a a ton of that money and you don't have any of it to give them? They don't play very nice.
My advice? Before you do ANYTHING... write down every little expense you have that relates to running your business. EVERYTHING == your training, you notary commission, supplies, paper, vehicle gas, insurance, taxes, computer, power, internet expenses, etc. ALL of it.
Then, figure out what you need to earn to make your business turn a profit. And, not just a profit... but consider this. Is this your sole means of earning a living? Do you need to pay your bills? If so, figure out the income you need to survive and calculate that in to the profit margin. Add that to the expenses... and then that will give you and idea of what to charge. I guarantee you that it will be a WHOLE lot more than $65 to $85 a loan signing - especially in our area with extensive travel expenses.
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Reply by BrendaTx on 1/1/13 12:12pm
Msg #448359
...and, Robyn...
You have no idea how fortunate you are the Marian is your neighbor...I know of few notaries as gracious and with as much integrity as Marian....few who would have answered your post because of the fact that if you are in their service area, you become competition. Follow Marian's advice. In another area, you might even get bad advice from a local person who did not want to see you top them on the business.
You'll soon understand what I mean by these remarks. Not said to be unkind, just being honest.
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