Posted by grapebed on 11/18/13 7:23pm
Msg #493199

Att: experienced notaries. Pricing question.

A local title company hired me last month for the last two days of the month. It was a great gig. No printing, no travel, etc. I probably did 15 closings at $65.00 per closing. They paid me. No questions asked. Fabulous!

We are going to talk tomorrow about November EOM. I suspect pricing might be a topic. My pricing with them over the past two years has been all over the map. Times keep changing. I am prepared to go lower.

I want to do everything to make sure I keep their EOM business. Within a range, how much would you "seasoned" notaries charge? I want to make sure that the T/C thinks that they are getting good value for the money( whatever it is). Any thoughts would be greatly appreciated. It makes a big difference in my survival as a notary.

Reply by Lee/AR on 11/18/13 7:31pm
Msg #493200

Just remember...whoever names the price first, loses. IF pricing comes up, just ask what they had in mind and go from there.

Reply by Marian_in_CA on 11/18/13 7:33pm
Msg #493201

If it were me.... sitting in an office for days at a time I wouldn't charge by the file but by the hour. I'd say, depending on your profit margin needs, anywhere from $60-85 per hour seems reasonable. Why? Because you might be left sitting there doing nothing waiting on people to get their act together, and yet you're present and available to them. It's downtime you're not getting paid for.

Reply by grapebed on 11/18/13 9:14pm
Msg #493205

Very good points. thx n/m

Reply by Buddy Young on 11/18/13 11:25pm
Msg #493211

15 signings @ $65 each = $975. Not bad for a days work, or is it two days? Still not bad for 2 days work. For two days work that is almost $65 and hour for 8 hour days. Not bad.

Reply by Matt_VA on 11/19/13 7:46am
Msg #493219

I would accept $50.00 if that's what they needed to keep me on. No printing or travel? It's a sweet gig!

Reply by MW/VA on 11/19/13 9:33am
Msg #493229

I'd keep in mind that they're probably saving money, too, by

having you do the signings this way. I've always dreamed of being in one place at EOM & doing a multitude of signings like that. Lucky you! ;-)

Reply by notary4az2 on 11/19/13 1:58pm
Msg #493278

Re: I did work for a large title company

here in Chandler, AZ in early 2009. I charged $100 for the first because I had to drive there but they printed the docs. Every signing after that was $75 because half the time I was sittting there doing nothing and they did ask that I stay there from 8am to 5 sometimes to 6pm M-F and sometimes Sat. No docs to print and mostly no driving. If I did a closing outside of the office they paid me the larger fee because of travel. Sometimes the signing would change to a home closing because the signers situation would change. They liked that I was flexible and willing to work with them and I was there everyday, on time. BTW these are all my discounted rates. You still have all your notary fees and insurance as well as the car to get there. The only savings is no printing and less car/gas usage which is a large part of our fees.

Times have changed and they want us to do more for less money but I would let them make the first move on what they want to pay. Have a number in your head that you are willing to go to down to.

Reply by Linda_H/FL on 11/19/13 9:40am
Msg #493232

My .02 FWIW

IMO I think this work is worth more, but you're already accepting a rock bottom fee per file - and now you say "I am prepared to go lower"??

Since this is not money out of the pocket (yes, it's out of their profit but the borrowers pay this fee in their closing costs) - no way would I go lower for this. To me I think they're taking advantage of you - if anything, you should be INCREASING your fee to $75-$80/file.

JMO

Reply by jba/fl on 11/19/13 10:44am
Msg #493246

Re: My .02 FWIW

I am wondering why you feel the need to bend over so much instead of standing up straight, looking them in the eye and speaking as a normal person. If they are happy with you, they are not going to change anything. Why give them ideas?

Demonstrates total lack of confidence on your part. As though you are saying: whip me, beat me, make me feel cheap. I would think it could be time for a raise.....after you have been on the job a while, isn't that what comes next?

Reply by grapebed on 11/19/13 10:49am
Msg #493251

Re: My .02 FWIW

It is such a good deal. Yes I am fearful of losing.

You are right. I need to dhow better confidence and keep on this gig as long as possible

Reply by grapebed on 11/19/13 10:46am
Msg #493248

They are not charging the borrowers. The t: n/m

Reply by Linda_H/FL on 11/19/13 10:47am
Msg #493250

Don't finish your thought here..yes they are

Any payment you get comes from the fee the company collects on the HUD - and guess who pays that..

Reply by HSH/WA on 11/19/13 12:12pm
Msg #493265

Re: Good gig, do what ever to keep it. n/m