   | Welcome to the Notary Talk General Discussion Forum. Before posting, please read the  |
| You are replying to this message: | | |
Posted by  BrendaTx on 7/9/06 1:15pm
Posts taken from #131581 - applies to all areas in the USA.
==============================================
help in michigan
Posted by rhonda whaley of MI on 7/7/06 5:39pm
Msg #131581
how do i get started in michigan as a loan signing agent are there alot of jobs in the michigan area like wayne oakland and macomb conties please help
Re: help in michigan
Posted by Dorothy_MI of MI on 7/7/06 5:58pm
Msg #131588
Rhonda, It will be very hard to get started in Michigan as a loan signing agent. Read todays newspaper about the real estate business in Michigan and the refi business is not far behind it. Four and one half years ago when I started really all you needed was a seal, a car, a cell phone, a fax and still breathing to get work. Today is a whole other story. Usually the last week of each month and the first week of each month are good bread and butter times for me. Not this past month. In fact, I'm leaving here shortly to go on my first signing of this whole week and it's already Friday. I got one from one of my regulars for tomorrow, Saturday and that is all the work so far for July and Monday will be the 10th, 1/3 of the way through the month.
You don't say if you have any experience at all in loan signings. If not, this definitely would not be the time to break into this business. Thanks to the NNA and their wonderful seminars telling people how easy this business is and how lucretive, we now have a very large pool of notaries chasing a rapidly deminishing pool of work. If a signing service can choose between an experienced loan signing agent and someone who has never done one before in their life, who do you think they will call. I'm not trying to be mean or hateful, just telling the realities of this profession. And if you are thinking that you will be able to just do this nights and/or weekends and supplement your income, I can tell you it will probably be a NEGATIVE cash flow.
To really make a success of this business you need to be available 24/7, willing and able to accept last minute assignments, be willing to almost eliminate all social life, work every waking hour that you are not doing signings, preparing for signings or preparing docs for shipment on marketing, marketing, marketing. Do you have any background in this field? And be prepared to go 3 to 4 months before you get your first call.
I live in the center of Oakland county and there are over 200 notaries within 20 miles me and that doesn't even cover Oakland County. Do you have a reliable car because if you go into this you will put a LOT of miles on your vehicle and gas is still in the $3.00 gallon range. There is a lot to consider before you even think seriously about going into this profession at this time. The first few months I can guarantee that you will be shelling out a lot more money than what will come in your mailbox.
Re: help in michigan for dorothy
Posted by rhonda whaley of MI on 7/7/06 6:06pm
Msg #131590
I have been a notary for 5 years just never really thought about the loan signing business until recently, my sister lives in Knoxville TN. and she makes alot of money there and only been doing it for about 6 months I just thought the same opportunity was in michigan since michigan was a bit larger than knoxville. but thanks for the input
Re: help in michigan for dorothy
Posted by Dorothy_MI of MI on 7/8/06 10:02am
Msg #131736
Rhonda, although the Detroit Metro area is a LOT larger than Ktown, it also means that it was very attractive for the NNA to set up seminars here. That perhaps has not happened in Knoxville (not enough population to make it that profitable for them). Go to "Find a Notary" button and put in your own zip code and it will tell you how many members of NotRot are within 20 miles of you; then type in your sister's zip code and see how many are in her area. This will give you an idea of the amount of competition you will be facing. Of course, that does not list every signing agent in the area, just the ones who've signed up with NotRot.
I understand that you've been a notary for 5 years, but unless in that 5 years you've done at least some loan documents you are still a newbie. Notarization is just a very small part of the job we do, albeit an extremely important part. Can you read and understand a HUD? Can you understand an adjustable rate note or heaven forbid a "pick a payment plan"? Do you know what a 1003 is? Can you explain the TIL and the difference in the interest rate? Do you have a business plan? Do you have reliable transportation? Do you have a computer with high speed internet access? Do you have a fast laser printer? Cell phone, Fax, etc.? Do you have a credit card with a decent available balance because unless you have a nice nest egg you will be needing it to purchase your tools of the trade. Are you willing to make the sacrifices to make this business a success? OR, are you just looking to pick up some "pin money" doing this evenings using your employers phones, time, computers, printers, paper, etc.? If your answer to the final question is yes, then you really are not serious about this business or profession and are just viewing it as another get rich quick scheme and we won't be seeing yuur name on the board very much in the future.
Those of us who have been here for any length of time, see people come on all the time. They post or reply to almost everything, really gung ho and when the reality of this business sets in, they move on to something else. To be a success in any business, the most important ingredient is tenancity! And patience! And being able to take rejection and let it roll off your back!
As I said earlier, these are just some of the points to ponder.
|
|
