Posted by Notarysigner on 9/24/13 1:48pm
Msg #485787
It's just sad to see notaries on "other" forums begging for
work at $85. I know they wouldn't do it here because the burn would be ferocious but it's still sad.
I think I'm going to join a couple of other posters here and hang up my SS loan signing gloves. Instead I'll just concentrate on my GNW and make that work for me.
I wouldn't be surprised if $85 is the new $100 in the next six months.
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Reply by Linda_H/FL on 9/24/13 1:54pm
Msg #485789
I can do $85 - but it's not the full service they get
for my base fee...which, I might add, as been the same since 2006, despite every other cost of doing business going up...
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Reply by Notarysigner on 9/24/13 2:02pm
Msg #485792
Re: I can do $85 - but it's not the full service they get
I hear you, just not for me.
I get $75 to do a car loan (15 mins) why would I accept $85 to spend two hours processing a loan after printing the Docs out.
I'll stick with GNW and increase my area of coverage for car loans and that should work out a little better for me
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Reply by Alz on 9/24/13 3:13pm
Msg #485807
I too am almost with you on that!
Completed GNW for a company this morning. Forty (40) notarized signatures plus a 1 hr wait time fee. They were all smiles when I left, as I completed similar work for them six months ago.
Sure hope they contact me in another six months.
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Reply by ToniK on 9/24/13 2:33pm
Msg #485801
Re: I can do $85 - but it's not the full service they get
Problem is those same notaries wont be able to ask for $100+ when and if the market booms. You wil hear "Oh but you have been doing it for $xx for xx time". How I know? Cuz a few of those companies said the same ish to me and when I said when was the last time I did...."Oh in 2007" exactly!!! My fee is staying the same. If that means less business then so be it. Im not dropping my fee.
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Reply by 101livescan on 9/24/13 2:01pm
Msg #485791
I'm thinking of opening a beer bar...everyone pays for beer no matter what, good times, bad times, sad times, glad times.
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Reply by PegiT_MN on 9/24/13 2:10pm
Msg #485794
LOL.....that made me laugh!
You might be on to something Cheryl.
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Reply by MW/VA on 9/24/13 2:25pm
Msg #485798
That's not a bad idea. That's big biz these days with
the "craft beer" generation. Also, I heard Detroit, MI is in need of dog catchers. ;-) LOL
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Reply by 101livescan on 9/24/13 2:54pm
Msg #485804
Stop by the Guitar Bar
and strum away with NSAs nationwide learning the "signing blues" and how our industry went "that away".
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Reply by Barbara Brewer on 9/24/13 3:20pm
Msg #485809
If all Notaries would stick to the $100. minimum then we could all get by.Too bad we don't.I have to say ,"No" ,frequently but I will not do anything for less.
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Reply by NVLSlady/VA on 9/24/13 3:28pm
Msg #485810
frankly, you retirees have way more endurance and patience than I do! No way at 60-something (I'm more than a few years away) am I fooling around with toner cartridges, late docs, traffic and fee collection nonsense. GNW would definitely be my supplemental income padding.
Now, if it's one's career "calling" to be self-employed, I can get that - at <any> age; but I just don't want the same level of stress in my goldie oldies . . .
Hopefully my corporate vintage shoppe will get off the ground someday (sigh)
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Reply by lucky/ca on 9/24/13 4:12pm
Msg #485815
Sorry but what is GNW?
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Reply by lucky/ca on 9/24/13 4:14pm
Msg #485816
what is GNW, I apologize for asking.
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Reply by Linda_H/FL on 9/24/13 4:15pm
Msg #485817
GNW = General Notary Work n/m
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Reply by lucky/ca on 9/24/13 4:17pm
Msg #485818
Re: GNW = General Notary Work
Oh, thank you. I had a senior moment.
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Reply by HSH/WA on 9/24/13 6:12pm
Msg #485837
Re: I turn down a lot of calls at less than $85
so I think the new norm could be even lower than that.
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Reply by BobtheElder on 9/24/13 7:53pm
Msg #485862
Re: I turn down a lot of calls at less than $85
Turned down two at $60 just this evening.... not worth the effort at that rate.
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Reply by pleasantonCA on 9/24/13 8:52pm
Msg #485870
Have had some luck negotiating by the number
of notarizations in the package. One SS actually listened and raised the fee based on the facts.
Will it happen all the time, probably not, but it is something to keep in mind with $85 becoming the new normal offering.
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Reply by HSH/WA on 9/24/13 11:56pm
Msg #485877
Re: I don't want to put in the effort to getting
the docs and counting the number of notarizations when starting from a base of $50/$60 dollars. I am behind the times and have not gone down to the new low rates and will probably become extinct due to lack of signings, but it is a much faster death than accepting the above rates and running your butt off for no profit eventually going out of business anyway.
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Reply by janCA on 9/25/13 8:47am
Msg #485889
Re: I don't want to put in the effort to getting
The so-called "norm" is only what you, the SA makes it. That's why the fees from many of the companies have been lowered next to nothing. No one but the SA is to blame for bringing these fees down, because they're the ones that have made that fee the norm. It doesn't matter if there is competition in your area. Let those competitors take all the low-ball jobs they can do. Then you're available for the jobs that come in with a fair and profitable fee.
Soon, if not now, many of those SA's will be dropping like flies because of the small fees they accepted, and essentially lost on every assignment. Those that charged and received higher fees will weather the storm.
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Reply by John Fluent on 9/25/13 8:49am
Msg #485890
Re: I turn down a lot of calls at less than $85
Yep it's sad but let's face it - The days of low interest rates and 50 loan signings a month are over! And, the rest of the work available to mobile notaries is just chump change. So either take the loan signings that remain (at lower rates) or hang it up.
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Reply by closergrl on 9/25/13 9:56am
Msg #485899
Re: I turn down a lot of calls at less than $85
Yes, rates are up; but are still very low historically. There is an initial slow-down due to the rate increase, but IMHO, applications will again increase. There are still many, many people who have mortgage rates at or above 6% or above, for them it still makes sense to refi at 4-4.5% The NSAs who lower their fees are going to go broke, you just cannot survive on that! The NSAs who hang in there and stick to their fees ($100+) will most likely weather the storm. It happened in early 2008, I stuck to my fees and was able to still support myself and my family. Do you see the title companies reducing their fees or the enders reducing theirs? That would be a BIG, FAT NO!! Why should we reduce ours?
Yes, my loan closings are down, but I am still doing 10-15 a week, which is still 40-50/month. Figure it out 40/month X $100+ = $4,000+ or (maybe) 45/month x 85 = $3825, these figures are gross income; before any expenses are taken into consideration. When you take more closings at a lower rate you have more expenses, so you are making even less! Work smarter, not harder.
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Reply by JanetK_CA on 9/25/13 4:21pm
Msg #485982
Re: I turn down a lot of calls at less than $85
"When you take more closings at a lower rate you have more expenses, so you are making even less! Work smarter, not harder. "
Yes! Very well said... To repeat: You have MORE expenses. So you have a lower profit margin and you're working a lot harder for less money. I heartily agree with "Work smarter, not harder."
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Reply by ChelleCNSA on 9/25/13 6:13pm
Msg #485993
Re: I turn down a lot of calls at less than $85
I will do an appointment for $85/90, BUT I haven't been going the distance. I do appointments for JMT at $50 overnight docs...I just show up, verify & ship docs or $75 for Quicken essentially they are quick to complete as package is simple & small. SS/TC want to lower the fees because of slow down...then I explain I'm not available over certain miles. It's tough yes, as my area we're not seeing 10-15 per week....maybe 25-30 per month now:-( I've decided to do other endeavors to make up but still being available for the companies that treat me well!
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