Posted by NC_Closer on 10/25/13 10:08am Msg #489726
Newbies are being advised to accept $50 fees
Just surfing the net and found this website N3 Notary They are full of advice on starting your own notary business. Some good, some awful. They even have a section under their blog addressing the "angry notary" who posts negative comments and promptly gets removed from their data base.
Here is one of their suggestions:
5. Know your value
Don’t tell a company that your fee is $125 if they offer you $50, you’re still just getting your feet wet. Know your value and be happy that as a newbie mobile notary you’re being paid $50 to gain that valuable experience that will pay off for you in the future. Now is the time to build experience and a client base.
Reply by Teresa/FL on 10/25/13 10:17am Msg #489727
"Now is the time to build experience and a client base."
If all you want to make is $50 per signing, go for it.
Once tax time comes it will be apparent that you are not making a profit, but probably losing money instead. Even if you are stealing from your primary employer by using their paper and toner to print.
Reply by MW/VA on 10/25/13 10:19am Msg #489728
OMG--Preying on newbies again! ;-( n/m
Reply by Linda_H/FL on 10/25/13 10:30am Msg #489730
Re: And that's why most of us who know what we're doing don't
It worked Marion. What a great illustration of how we are constantly treated. Maybe we should just start replying to these low ballers with "we are not the taco stand"!
Reply by Christine/OK on 10/25/13 10:53am Msg #489739
Great video, Marian! Interesting that many of those same
comments surface in our sphere of business as well. Loved the last line . . .
Reply by Sylvia_FL on 10/25/13 11:00am Msg #489742
Re: And that's why most of us who know what we're doing don't
Reply by Sylvia_FL on 10/25/13 11:02am Msg #489743
Marian - how to embed a video
Under the video click the "Share" and then click "embed" scroll down and select to use the old code. The new code doesn't work on NotRot. Some videos don't have the old embed code, those you won't be able to embed so just link to those.
Reply by Marian_in_CA on 10/25/13 11:03am Msg #489744
Thanks, Sylvia... I always forget that! n/m
Reply by Rose/TX on 10/25/13 11:56am Msg #489753
Re:We're not the TACO STAND
Loved the video, isn't that what those low ball companies are trying to push??
Reply by Frank/NC on 10/25/13 12:11pm Msg #489755
Re: And that's why most of us who know what we're doing don't
I am going to send this video to every single company that calls and offers low ball fees. Why don't we all send the lowball companies the video every time they offer low ball fees?
Reply by PegiT_MN on 10/25/13 10:51am Msg #489737
They are the same company that bombards me with e mails asking me to do electronic I-9 signings all over the cities for the whopping fee of $20.00. No thank you.
Reply by CH2inCA on 10/25/13 10:58am Msg #489741
Hmm...I read it as
"You're a newbie, we are entitled to profit 90% of what the borrower is paying, just for calling your inexperienced ***".
"Oh, and you should be grateful."
Reply by Peter Jeute on 10/25/13 11:12am Msg #489746
Bottom line, stand your ground
I continue to get calls from ISGN and I just tell them my fee is $125 and goes up from there. They usually go away. Gas prices have only gone up and never down much so why are we still getting paid the same as we were when I started doing this 12 years ago? Stand your ground and get what you think you're worth. Professionalism goes a long way in this biz and so does reliability and knowledge and it's worth it to pay a fair price for those things. I'm sure most of you have noticed that the refi market has completely dried up and the signing services have stopped calling or returning emails even when you just email to check in. That's not a terrible nice way to do business in my book. Keeping in touch with quality notaries and companies speaks volumes to me.
Reply by HSH/WA on 10/25/13 1:57pm Msg #489768
Re: Tough time for newbies
Best advice may be to go to the burger joint for awhile, you will make more money. At $50 per signing you will not make minimum wage after your costs.
Reply by ToniK on 10/25/13 4:06pm Msg #489781
At that rate I'd have to do 76 signings
Just to cover my $3800 tax bill. Not to mention I haven't done 80 signings a month since January. I'm averaging about 5 a month since June. Like really? At this rate I'd be running ragged for what...oh wait they talk volume signings. So what 6 a month now. Lol
Reply by ToniK on 10/25/13 3:57pm Msg #489780
lol employee mentality.... n/m
Reply by Robert522TX on 10/25/13 5:46pm Msg #489787
They used to call me when I first started with worse than "lowball" offers. They can take me off their list.
Reply by Luckydog on 10/25/13 6:03pm Msg #489790
Worst advice ever! They failed to mention that doubling your rate later on will lose all that "cheap" clientele you built for yourself, and then your are worse off than just starting off. Must be a cheapo SS dishing this out.
