Posted by Lily/Ca on 11/12/13 8:00pm
Msg #492449

Has anyone else been real slow?

I know things have slowed down when the government shut down, but it has not picked back up, at least for me. I've had issues with someone I mentored, and helped get them business, then to have them undercutting me, taking clients, but it seems like they were not alone. Lost a large client to the same thing, under cutting fees. All's fair in business, but these people are charging so low it's not worth it, screwing them selves and other notaries, not just myself. I'm sure there are others out there that has gone through the same thing...Just about to call it quits after 7 yrs of doing this.......any advise?

Reply by Jack/AL on 11/12/13 8:07pm
Msg #492450

It may be too late to help, but I advise against traiining your competition. They're doing what you taught them, going out there and getting business. They probably also know how much you normally charge, so you've made it easy for them. Also, don't poop in your own sand box.

Reply by Jack/AL on 11/12/13 8:15pm
Msg #492451

Forgot to answer your first question. Yes, it is very slow, here in north Alabama. I don't think the temporary government shutdown is to blame at this point. Increasing interest rates have all but killed the refi activity. I'm seeing about half as many as I did, just two months ago. As some other members have noted, I'm also being called for appointments that are two ror more weeks away, and receiving some doc packages days in advance of the signings. The jobs are scattered throughout the month, not crammed into the second half (as they were for a long time).

Reply by janCA on 11/12/13 8:43pm
Msg #492454

Jack is spot on. Never, ever train your competition, unfortunately, you have cut your own throat, and I'm sorry for that.

Start marketing to new companies, preferably title companies, each and every day. It is slow everywhere, hang in there and keep the faith.

Good Luck.

Reply by Lily/Ca on 11/12/13 8:46pm
Msg #492456

I had a friend get me into the business, helped me a lot, just figured I's pay it forward.

Reply by Lily/Ca on 11/12/13 8:44pm
Msg #492455

At first they were not competition to me, but also a friend, and yes, that was my fault for trying to help someone and being too trusting. Did try to talk to them on a business level, but to them volume was more important that turned into sloppy work. It's sad that you can't help someone and then to have to watch your back at the same time. Learned my lesson at the expense of my business.

Reply by Buddy Young on 11/12/13 8:51pm
Msg #492457

Re: yes it's slow.... advise----- advice n/m

Reply by CJ on 11/13/13 1:09am
Msg #492479

My 2 cents.

I have been doing this for 13 years, and it has supported me and helped me pay off my debts, etc. All that time, interest rates were going down. Every time they went down, everyone refinanced again to get a lower mortgage payment. They have gone from 9% to 2.5 since I have been doing this. Now they are going up again. No one wants to refinance and get a BIGGER mortgage payment. THAT is why it is slow. And it's not going to pick up next week.

As far as training the competition. A friend of my stepmother's taught her to do this. But the friend did not live in the same area. Then my stepmother taught my sister. She did it for a few years. Then she met Mr. Rich and he made her quit. My sister taught me. THEN I moved to the same area as my stepmother's friend, so now I am competing with her. That is why I never train ANYONE. I have no idea where their needy friends and relatives live and my good deed might come back to bite me. After 13 years, my sister left Mr. Rich and she has moved in with me. She needs a job. As much as I love her, and she is homeless, I am NOT going to train her to get back into it. I can't afford it. I will lose half my income to her and then I will lose my house. But she is welcome to live here for free, use the laundry and we will feed her for the rest of her life. I helped her get another job that gives her gas money and pocket change. But now that it's slow, I am making less money than she is.

I'm sure that whomever you trained is slow too. Go to Signing Central and market yourself. One last word about training: if they are not willing to train you to do their job (and split their paycheck with you), then why would you train them to do your job, and split your paycheck with them? "Takers" look for sweet "givers" like you and they take. Don't let that happen again.

Reply by JanetK_CA on 11/13/13 1:44am
Msg #492480

Re: My 2 cents.

I think you're exactly right about why business is slow - and I've been warning people about that for more than a year now.

As for training competition, some on this board may feel that your assessment is cold and heartless. However, while I've been accused of being a bleeding heart before, I don't happen to be among them. I think you've spelled out the hard reality of the vast majority of businesses.

If people can't play tough on occasion, they should go get a job, not be in business for themselves. Sometimes that lesson gets learned in the school of hard knocks, but perhaps your story will save someone else from that fate.

And that's MY 2 cents.

Reply by jba/fl on 11/13/13 6:30am
Msg #492481

Re: My 2 cents.

I love that both of you (CJ & JanetK) are thinking clearly and with an eye to self-preservation. When one does this, one can be as charitable as one wishes.

Although I could train others, I won't as I have friends I've met along the way, including DTF who trained and mentored me, that are still active and struggling along with the rest of us. Now is not the time to bite anyone.

Just my 2 cents.

Reply by wayne SNYDER on 11/13/13 7:36am
Msg #492486

Re: My 2 cents.

Phila and NJ little slow. Companies trying to cut closing cost, by 10 or 15 dollars.

Reply by JanetK_CA on 11/13/13 3:27pm
Msg #492564

Re: My 2 cents.

Good point. It's not just about us - it's about all the others like us who have come before us or previously made a commitment to this business, or made their contributions in other ways perhaps (like via posts on this board). Those folks are also negatively impacted by actions that increase those feeding at the evaporating trough of work - or whose inexperience adds to the problems that certain elements are over-reaching in their attempts to fix them.

Reply by Lily/Ca on 11/13/13 10:07am
Msg #492507

Re: My 2 cents.

CJ, thanks for the 2 cents. Your right and I've learned a hard lesson costing me my business and friendship I thought I had. Never again.

Reply by NVLSlady/VA on 11/13/13 8:27am
Msg #492494

Re: Has anyone else been real slow? Yep

<"All's fair in business, but these people are charging so low it's not worth it . . .">

Something else to consider is whether all <clients> are being treated fairly. It was mentioned how the $10-$15 scuffle can make or break the deal. Found myself in this situation the other day and had to decline a purchase signing over not meeting my fee. Caller said, "they can only do $75 on these small packages." Problem is it wasn't worth it - as my travel/time was more than they quoted (you'd think they'd know we don't live at post office) . . . BUT MORE IMPORTANTLY, it wouldn't be fair to my clients that pay $xxx for similar job; they have come to trust me and know I'll spend the time needed with bor to help fill out those detailed forms (loathe CA prop), and know I'll gladly do what it takes to resolve any issues - just not for $75 (sorry).

With holidays coming, there may be more opportunities to get the fees to sustain us in biz - but Not if we compromise on fees (that "lowball" sign will just be hung over our heads for the duration). You can bring prices down but will lose credibility quick as, well quicksand if you try to raise them later! (My .02)

Reply by Lily/Ca on 11/13/13 10:22am
Msg #492511

Re: Has anyone else been real slow? Yep

NVLSLady/VA, You are right on the money. With the signing companies we do all the work, they get the same fees but they are low balling the notaries and the notaries that take the lower fee will find they have to work more and get less profit if any. I too pride myself on taking the time to do a good job with no mistakes, many times saving a signing due to improper paper work from a title company, fixing their mistakes to save from doing a re signing. One of the title companies had recognized this and had put me at top of list and made me a preferred choice for Citi bank, but someone in my town got their business by seriously undercutting the fees down to what a signing company would pay. I would like to talk to the person, but I don't know how to approach the person about it, not the same person I helped. I had to lower my fees greatly, but I can't shoot myself in the foot just to get the title co back. Any ideas, I'm open to.

Reply by jba/fl on 11/13/13 1:07pm
Msg #492537

Re: Has anyone else been real slow? Yep

If the fee is not what I wish to have, then it is a no-go. I cannot work at a loss, I will not work at a loss. Holiday season means enjoy what you have; working at a loss makes me miserable. .... Not very holiday like is that?

I will stay home - I don't care if these companies don't know how to negotiate to get the jobs they offer. Not my problem. My family is my problem and they deserve a happy person to be around them.

Reply by John/CT on 11/13/13 1:55pm
Msg #492551

"Real slow"? I wish ...

How about dead in the water?

Reply by 4Justice on 12/18/13 7:27pm
Msg #496555

Has work picked up for anyone yet? It is still slow on my end.