Posted by notaryKing on 3/18/13 4:03pm
Msg #461853
Lowballed like no other today
I was called by a familiar name on here today, it was an annuity signing, 35 page packet(times 2 of course) with fax back. It was almost 24 miles away.
Todays lowball offer??? $43.00
43 @#$% beans for an hour ride. I even lowballed the comeback and said I'd do it for $80 and thought I'd get called back. I didn't.
Attention newbie notaries: Since I didn't get a call back, this was eaten up. Unless this deal was across the street from your house, you lost money. If you drove 10 miles(and I live in a VERY rural area), you lost money. Add in the print expense of about $5, a gallon of your gas $4, use of your vehicle $5 wear and tear, your time at the signing. Congrats. You made about $9 an hour today. The pimple faced kid at McD's right now makes what you make.
Offered $43 for a 42 mile round trip deal. Bite me.
| Reply by La Trese Breaux on 3/18/13 4:25pm
Msg #461856
I LOVE the way you broke it down, now thats reality Newbie. Dont take it as a negative post it's called Education FYA.
| Reply by LKT/CA on 3/18/13 5:32pm
Msg #461865
Actually, they didn't make $9
There are more costs to factor into EACH signing beyond just gasoline, printing and vehicle wear & tear. One must also factor in the following costs - for EACH assignment:
E & O insurance, bonds
Notary class, if applicable, and supplies (application to state, seal, embosser, & journals, if applicable)
Marketing (website, business cards, networking memberships, web directory memberships)
Equipment (laser printer(s), toner, scanner/scanner wand/fax machine (or e-fax)
Wear/tear on equipment
Supplies (paper, binder clips, folders, briefcase, receipt books, etc.)
Wear/tear on vehicle - brakes wear out faster, etc.
Gasoline
TAXES
Other miscellaneous (shipping envelopes from Walmart if UPS or FedEx won't provide them)
Tolls/downtown parking
Those costs - some fixed, some recurring, MUST be taken into account for EACH assignment. Two thirds of a signing (any job) is cost. One third is profit and it's about three hours from print to signing to shipping to invoicing. So here's your profit for a $65 signing:
$65 divided by 3 = $21.67
$21.67 x 2 = $43.34 = cost
$21.67 is profit but divide that by 3 as the AVERAGE signing - NOT just the time at the table with borrowers but printing the docs, reviewing them, driving to borrowers, table time to included notarizing, shipping the package, then invoicing - takes APPROX. 3 hours. Divide the profit $21.67 by 3 and you just made $7.22 per hour.
The ABSURD offer of $43.00 = $4.78 per hour. Get a job at Taco Bell instead. At least you KNOW you'll paid every two weeks!!
Any scheduler that tells you that you are making $25 PER HOUR (from a $75 signing fee), start cheering and thank him/her for agreeing to a $225 signing fee.
| Reply by notaryKing on 3/18/13 5:41pm
Msg #461866
Re: Actually, they didn't make $9
I actually forgot to put the E & O and other charges notaries are now getting hit with that aren't added in to estimates. I have one company now who only wants my BG check from their source, mine is from the state police/FBI. How is theirs better than mine.
I'm getting DMV requests now too, another charge. How certain SC's let TC's get away with this BS policing of who's doing their docs. DMV? Doesn't a VALID DRIVERS LICENSE pretty much tell you a person can drive? Really?
It's getting a little out of hand. Thanks to LKT for putting in what I missed.
| Reply by ikando on 3/18/13 5:51pm
Msg #461867
Not to put salt in the wound, but I was paid $45 to go 13 miles, no printing, no faxbacks, 1 seal. That was GNW, and I get that regularly, paid immediately.
If the SS want to take a piece of the available pie, they need to raise the bids they make to the TC/lenders. Otherwise, everybody loses.
| Reply by notaryKing on 3/18/13 6:22pm
Msg #461872
$45 for 13 miles and no print or fax, I'd take in my area. Back home inside an hour, I could live with that.
Different company 2 weeks ago, sent me to same town/distance, one signature/notarization on a purchase, paid me $95 and that was just ok fee wise. Today was a real kick to the pills.
do I know I'm the "King"..................lmao! Funny line.
I added king cause I like that movie "American Beauty"
I'm that smarmy notary, not realty guy...........
| Reply by 101livescan on 3/18/13 6:05pm
Msg #461868
Don't they know you're the KING?
I received a call for a signing 7.9 miles from me from FASS for $100. I countered with $125, edocs you know. They'll get back to me. I'm waaaaaaiiiiiiitttttiiiinnnnngggggg....NOT!
| Reply by leeinla on 3/18/13 7:34pm
Msg #461881
Amazing isn't it, a $25 difference. Wait, they want you to dress professionally and send over a perfect loan package. If the other notary got it wrong they complain, but it will be more than $25 to fix notary errors.
| Reply by Claudine Osborne on 3/18/13 9:05pm
Msg #461894
I got a call just a little bit ago..$65.00 for a refi and fax back the whole package!! I said you are kidding me? I counter offered and he said are you background screened? Yes I am..he said ok then 95.00..I said No thank you!
For the love of this job..Please please dont take these jobs..We are all worth more than this!!
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