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A little insight to assist with your business analysis
Posted by  Christine/OK of OK on 4/1/17 8:34am Msg #573030

Many are evaluating their numbers and researching a Plan B, Plan C, etc. for supplementing their income due to the downturn of the notary signing agent engagements.

As with most business sectors, many items are variable AND based upon your region of the country (affluence, competition/saturation or lack thereof for some fortunate isolated regions in the US, population, social structure - property kept within the family for generations, etc.).

There is no "one-size-fits-all" and there continue to be diverse variables in the equation of loan signings/courtesy closings and the costs inherent to each business varies from one business to another. This factor itself makes any type of comparison “faulty” from the onset.


It does require a lot of work to be successful in this business; however, there are those who work diligently, intelligently, professionally, and STILL YET may not receive the benefits of financial success because their market/region varies from that of others . . . There may be a vocal few that achieve 6 figures for similar time, effort, and ingenuity implemented, but the median income for Signing Agents is $34K (range from ~ $23K-$81K). See http://www.payscale.com/research/US/Job=Notary_Signing_Agent/Salary The top end of the range is $81K - definitely not a six-figure income. Certainly, not saying that it's impossible, but just that realistically it’s outside the scope of normal.


In the Chron article, they state that according to Indeed, “Mortgage signing agents earned average annual salaries of $45,000 as of 2013. In the South, they earned the highest salaries, $53,000 in Washington, D.C., and the lowest, $38,000, in Louisiana. Those in the Northeast made $39,000 to $55,000 per year in Maine and New York, respectively. Signing agents earned $31,000 to $49,000 in the West -- with the lowest salaries in Hawaii and highest in California. In the Midwest region, they made the most in Illinois and the least in South Dakota and Nebraska -- $49,000 and $35,000, respectively.” See http://work.chron.com/monthly-salary-mortgage-signing-agents-23884.html


So if you’re mentally struggling with having expended all the effort and energy, yet not bringing in ~$100K, the above-referenced data reflects the reality of the aggregate numbers. It also provides you with an accurate benchmark for evaluation of your region and realistic possibilities.


Wishing the best for success to everyone especially during this challenging interval. Big Smile

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Messages in this Thread
 A little insight to assist with your business analysis -  Christine/OK on 4/1/17 8:34am
 Thanks, Christine. This is a good reality-check. ;-) n/m -  MW/VA on 4/1/17 10:19am
 Re: Thanks, Christine. This is a good reality-check. ;-) -  janCA on 4/1/17 12:00pm
 Re: A little insight to assist with your business analysis -  sueharke on 4/1/17 12:50pm
 Re: A little insight to assist with your business analysis -  JanetK_CA on 4/1/17 2:29pm
 Janet, the term "salary" is used loosely. If you review the -  Christine/OK on 4/1/17 2:50pm
 Re: A little insight to assist with your business analysis - PegiT_MN on 4/1/17 4:01pm
 Re: A little insight to assist with your business analysis - grapebed on 4/1/17 9:25pm
 17 years ago, I had huge beginner's luck...working primarily -  Cheryl Elliott on 4/2/17 8:35am
 Sounds good 'til you do the math ... - BobbiCT on 4/3/17 6:57am
 Excellent post, BobbiCT! -  JanetK_CA on 4/5/17 3:00pm
 Great info, Christine. n/m -  BrendaTx on 4/3/17 1:48pm
 Great info, Christine. Harrumph. Not finished. -  BrendaTx on 4/3/17 1:54pm



 
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