Join  |  Login  |   Cart    

Notary Rotary
Just PoliticsLeisure
Welcome to the Notary Talk General Discussion Forum. Before posting, please read the

Stagnant fees vs increasing pay
Posted by  JanetK_CA of CA on 9/17/23 5:23pm Msg #646791
Sad, but true. Of course, as with most things, we do have control over how we react to those types of issues. Over the past decade or so, instead of going along with companies lowering their fees, I decided to raise mine instead, and have succeeded at doing so. That mostly involved being selective about who I worked for (turning down lots of work) and searching out some new clients. In recent years, it's meant I've worked less, but my profit margin is higher on the work I that I do accept, and I now consider myself somewhat semi-retired, so that works well for me. If I wanted to work more, I'd again put effort into marketing.

During the slowdown that came after the mortgage meltdown in 2007, I went along to a limited extent with lowering fees. I worked long hours and ran myself ragged. My gross income went up, of course, but when I took a hard look at the numbers, I concluded that my net income didn't grow proportionately and didn't merit the stress and lack of time for anything else. So I went back to my previous fees and have raised them above that level since.

Way back when, I think it was Marian Harmon who did a great post with examples that clearly illustrated the importance of profit margin when setting fees, which I wish I could find. (Maybe I'll recap some of it myself one of these days.) As Steve points out, a great number of people over the years have concluded that it's just not worth it to work for the very low fees that some hiring parties are willing to pay, and they've moved on to other more profitable activities.

Bottom line is that we always have a choice. We don't need to simply accept the insulting fees that some hiring parties offer. If someone needs or wants more income, they can work very hard at marketing their services (which might bring results even in this very difficult market), plus there are still other options out there. If they're interested in doing charity work, I'm sure they can find much more worthwhile recipients. Wink
PrevNextReturn to General Discussion    Post a Public Reply to this MessageSend Author a Private Message

Messages in this Thread
 Avenue 365 - Rebecka Ebsen on 9/15/23 5:36am
 Never heard of them. n/m - Colonel/IA on 9/15/23 7:08am
 There is a listing in Signing Central for Avenue 365 Title -  MW/VA on 9/15/23 8:41am
 Here's their website ... -  Yoli/CA on 9/15/23 8:43am
 Re: Avenue 365 - SteveS/CA on 9/15/23 1:56pm
 They had some relationship with Xome a while back. n/m - Lee/AR on 9/15/23 3:51pm
 Re: Avenue 365 - Sheryl/TX on 9/15/23 6:08pm
 That's a blast from the past... - FeliseSoCal on 9/15/23 6:23pm
 A little history about them -  JanetK_CA on 9/15/23 9:02pm
 Re: A little history about them - SteveS/CA on 9/16/23 10:05am
 Stagnant fees vs increasing pay -  JanetK_CA on 9/17/23 5:23pm
 Re: Stagnant fees vs increasing pay - SteveS/CA on 9/18/23 4:14pm
 Re: Stagnant fees vs increasing pay - Sheryl/TX on 9/19/23 7:14am
 Re: Stagnant fees vs increasing pay -  JanetK_CA on 9/19/23 4:38pm

Find a Notary   Notary Supplies   Terms   Privacy Statement   Help/FAQ   About   Contact Us   Archive  
Notary Rotary™ is a trademark of Notary Rotary. Copyright © 2002-2024, Notary Rotary, Inc.  All rights reserved.
500 New York Ave, Des Moines, IA 50313.