Posted by Notarysigner on 3/20/13 1:56pm
Msg #462170

Negotiating fees with schedulers

I had two signing where I agreed upon a fee with the schedulers based on the fact there would be no faxbacks. After accessing the websites for the Docs, instructionS on both said I had to send back "critical" Docs....50 pages. I called back to have fees changes and after being told by the SS that schedulers didn't know that info and they "were sorry 'bout that" he presided to tell me I had to FAX the Docs back. I had to deliver two Siam twins to get him to give me $10 dollars more.

If it is true the schedulers don't know the answer if there are faxbacks or not...I would negotiate fees as if there were gonna be. IMO

Reply by MW/VA on 3/20/13 2:06pm
Msg #462176

Don't we get tired of their excuses???? If the

schedulers don't know that faxbacks are required upfront, then they shouldn't be scheduling the closing. We used to get $25 for faxbacks, and now they're trying to slip them through for free. From our standpoint it's a PIA. We're not sitting in an office somewhere all day long & have access to a fax machine. If I'm on the road, I have to come back between appts. to fax (now scan & email), but it's an extra step & involves extra time & travel. I've had a few lately, too, that were 2nd homes or investment properties. Those generally fund same day, and do require faxbacks. I don't have a a big problem if I'm advised in advance & can allow time for it in my schedule.
I don't know what's going on in the industry, but I'm seeing so much more confusion than usual. I know my job has gotten more difficult because there's more stress & problem solving at my end.

Reply by C. Rivera Chicago Notary Services on 3/20/13 2:57pm
Msg #462195

yeah they do know esp if big clients BOFA, Chase, etc...

are their regular clients or contract...give me a break...

Reply by Priscilla Witman on 3/20/13 2:08pm
Msg #462177

I have taken to quickly outlining my fees based on the package as presented before I hang up with any scheduler. Something like, "Ok, for this signing, my fee of $xxx will cover xxx pages, x amount of signers, no faxbacks, etc etc". I think that lets them know up front that extras are just that, extras. I do charge extra for oversized packages and fax-backs. I realize that not everyone will agree with or understand that, but that compensates for the extra time at the table, extra paper/toner, and time spent in front of a fax machine.

Reply by Lee/AR on 3/20/13 2:28pm
Msg #462185

Don't know when this idea of free faxing started, but

it's totally out of line. More work/expense=higher fee--really very simple concept that any plumber, painter, auto mechanic, etc., etc., knows--as do their customers.

Reply by 101livescan on 3/20/13 2:39pm
Msg #462190

Re: Don't know when this idea of free faxing started, but

Oh, you need a wiper blade, Lady, that will be $16.99 additional to your $79.99 oil change, how do you wish to pay today?

Don't you get sick of all the dings to your fee?

Reply by 101livescan on 3/20/13 2:39pm
Msg #462191

Re: Don't know when this idea of free faxing started, but

Oh, you need a wiper blade, Lady, that will be $16.99 additional to your $79.99 oil change, how do you wish to pay today?

Don't you get sick of all the dings to your fee?

Reply by Yoli/CA on 3/20/13 2:57pm
Msg #462194

My MO is almost identical to Priscilla.

Repeat agreed upon fee covering up to xxx pages up to x signers. If scheduler does not know, I stress to them anything else is extra and fee will be re-vamped if anything else crops up -- ie. fax/scan-backs, POA, etc. It has happened that when docs arrive, instructions include fax/scan-backs or package is more than just a couple of pages past my base fee coverage. And, when I call them for the increased fee, no issue. New confirmation is promptly sent with amended fee.

Reply by Priscilla Witman on 3/20/13 3:26pm
Msg #462202

I probably got the idea from one of your posts, Yoli.

When I first started out, I got burned so badly that I knew I had to either revise my process or quit doing signings because the fees being offered and accepted weren't adequate, and I was doing it to my own self by allowing it. Some of the more unscrupulous companies seem to just KNOW when you're new and don't realize what questions to ask.

I remember LKT/CA said once upon a time, a fee schedule is a must-have for this work. She was 100% correct, and your process of repeating back your fees and what they cover was very helpful too.

Reply by Teebs on 3/20/13 3:30pm
Msg #462204

Re: I probably got the idea from one of your posts, Yoli.

I created a question and answer sheet (along with my fee schedule) all typed out so that I could make sure that I asked all of the right questions when I get called....Can never be too prepared! and it also cut the nerves I would get when the phone rang !!! LOL

Reply by Priscilla Witman on 3/20/13 3:32pm
Msg #462205

Oh my goodness. I have the exact same thing.

I use that to keep track of all of my signings. I staple it to my confirmation, shipping receipt, and check stub when it comes in. Great minds think alike!

Reply by jnew on 3/20/13 3:19pm
Msg #462200

I was talking to some people whom I worked with when I was a title agent and their appears to be some tightening up by the lenders on whom they will do business with. More individualized back up checks, credit checks, individual fidelity bonds, etc. on settlement agents. The word is that the preferred closer will be a direct operation of the title insurance underwriter and independent title operations are going to have to be scrutinized intensely when they are used. I don't know how this will translate to the signing agents but it may mean that notary signing agents may be required to do more than usual. I noticed that my BOA orders are requiring fax backs, even from settlement companies that never asked for those before. The only problem is that the notaries have to compete on fees and may have a tougher time keeping or increasing the fee structure to compensate for time and materials in doing the extra work. The one possible redeeming quality of this situation is that there may be more work for experienced signing agents and less work for the new or inexperienced signing agents.

Reply by ikando on 3/20/13 3:43pm
Msg #462212

The tightening up by lenders may be a result of new laws. I know the State of Oklahoma House of Representatives had a bill with relation to escrow/title companies and licensing which my representative got put on hold until they addressed the impact upon Notaries Public who do remote closings. It may be a wave of the future.

And for that reason, among others, I've revised my fee schedule up to accommodate the extra activities I may have to perform. If that reduces the number of calls I get, so be it. But MY time is worth what I say it is worth. That's why I'm an independent contractor.

Reply by Barb25 on 3/20/13 7:29pm
Msg #462247

Sounds like you have really given this this proper thought.

The Philosophy/decision. It is so simple. It is so correct. I just love it. You are my hero today.

Reply by Notarysigner on 3/20/13 3:57pm
Msg #462214

Re: someone posted yesterday about

SS undercutting each other to get the work. TC charges BWR so NBD. So profit margin needs to be reduced for them,...not at our expense. IMO