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Better is not always cheaper & Cheaper is not always better
Posted by  Moneyman/TX of TX on 9/27/10 4:38am Msg #354256
Npross, respectfully, I have to point out what I think may be some major flaws with your jeans theory. ( Msg #354241 )

{* $150 vrs $75 is a 50% discount -- a 20% discount would be $120}

You are assuming that both places:
1) have the exact same pair of jeans for sale at vastly different prices 40-50%+ difference in price* (and both will provide the same quality, comfort, level of 'service' and 'knowledge')
2) are in fact located next door to each other (so the travel is exactly the same)
3) and that both pair of jeans are one size fits all

A knowledgeable SA, with a high level of skills in multiple areas including, but not limited to, customer service, attention to detail, professionalism, willingness to see that the borrower(s) questions are answered to their satisfaction, the knowledge and people skills to ensure that their job performance has actually added to, rather than lowered, the borrower(s) overall opinion of the company they have chosen to trust with, what is for most people, the largest single monetary transaction they have ever or may ever make is one kind of SA.

That SA knows that what they bring to the table is worth what they are asking people to trade for the fee they are charging.

Women aren't willing to pay $2K+ for a real Prada bag because it will hold more than a brown paper bag one might find at a local grocery store checkout counter. There is something to be said for quality and reliability.

Now a notary that may show up 'when they get finished with the kids basketball game', show up in sweats, doesn't even bother to view any ID, shoves the papers in front of the borrower while impatiently holding the corner so they can yank it out and replace it with another one, all the while repeating "sign there” or "initial here", doesn't have the slightest clue what a HUD or TIL is, and couldn't explain the difference between an APR and a Note Rate when the borrower(s) asks so they say something like "you got 3 days to call your lender and have them tell you the difference, now sign here so I can get back to my kids pizza party". The kind of notary that is in such a hurry they miss signatures, don't ensure the borrower(s) even sign the docs properly or even at all, partly because they don't know what they are doing (lack of knowledge)and partly because they just don't give a rip. After all, it's only XX and that's beer money anyway (never mind that when all the true expenses are added up the signing cost them out of pocket XX-$5 or $10 and they realize this is their true profit after page 80 of the 150+ page doc set). The type of notary that when they rush out of the borrower(s) house the borrower(s) are literally thinking, "WTF have we done? This company (the lender) cannot be as good as we thought."

Now that notary, masquerading as a SA, doesn't know the first thing about being a SA, business or real profit margin. They are the ones stealing from their 'full time' employer using their computers, printers and paper to subsidize their "other" job. (I leave the morals question on that section alone) They have no idea what a professional fee for the truly important job of a SA should be. They think the $50-65 is awesome pay for only 30 minutes of work (oh yeah, they bought into that lie as well) Now THAT notary is worth less than the $5-10 "profit" they "earned".

The quality of dollar store furniture is a far cry from that of furniture from Ethan Allen. Again, there is a reason for the price difference between the two.

I learned a long time ago that in sales, you get what you ask for. If you ask for one price (normal fee) then quickly accept a 50% discount or worse offer that amount even before the buyer has said a word, you will get just what you ask for, the blue light special pay for your full service quality.

Travel to the X number of closings I would have to accept at the lower price to earn the same for the number of signings preformed at my regular fee not only add cost to my auto and other fees (been stated on the board many, many times over) but one other thing that I don't think I have every added is that quite literally the more time I place myself behind the wheel and on the road statistically increases my chances for accidents or worse. Former life insurance agent thoughts seeping in a bit. Yeah, I know, some will think, that's just crazy, tell that to the guy or gal you read about in this morning's local paper that died in an auto accident yesterday. I'm sure they too thought they would make it home as well.

As for me, I turn down the bargain hunters which has literally opened up times that I have accepted other professional offers that I would not have been able to had I been answering my phone as if was the Blue Bat signal sale phone. I would have had to accept anywhere from 5-6 bargain basement offers to make (profit) what I did by knowing that what I offer is worth what I charge. After all, the borrower is STILL paying the same amount if I go or if the less than 'chatty cathy' in sweats shows up.

I'm not saying that my description of the notary above is a description of all people that accept the lower fees. I am saying that some of these middle man companies couldn't care less if it were as long as they accept the low fee and they make their $100-$150 for making a phone call and sending a few emails.

Defiantly, everyone has to run their own business their own way. I guess my issue is that anyone that tells me they are making true profit accepting the $50-65 signings is not truly adding all the true costs in the equation and some have even been on this board touting the "great" revenue of the $50/signing and don't understand others that say they don't make any profit on the $50/signings. Only to expose themselves later on in the thread as a thief that is stealing from their "day job" because they are using others computers, paper, printers, toner, and other material. Or that she bragged about the great pay of 6 or 7 of them in one day, but forgot to acknowledge that they were all in one office 2 miles from her house and all she did was show up, the docs were already printed and several of them were back to back. Yet she was trying to convince others that they should accept these offers even if they had to travel to 6 or 7 different homes in several different counties because they could make a profit.

I'm not saying you are doing this, but for the ones that have done just that while trying to convince others they should be accepting these ridiculously insulting offers, get real! Anyone could make "good" money if they were stealing everything necessary to work this business on a daily basis. duh!

Times are tough, but if you think consistently lower your fees is the answer, let’s ask some of the mom & pop businesses that Wal-Mart put out of business with that strategy how that worked out for them. Maybe we could even leave some of our business cards at their checkout counter......on second thought, probably not.
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Messages in this Thread
 Fees/ $85 VS $100 - npross on 9/26/10 10:54pm
 Re: Fees/ $85 VS $100 -  Marian_in_CA on 9/26/10 11:45pm
 Marian, very well said but absolutely useless to the OP... - Cari on 9/27/10 12:46am
 And we can thank the useless NNA for starting the low ball - desktopfull on 9/27/10 1:01am
 Re: And we can thank the useless NNA for starting the low ball - npross on 9/27/10 1:09am
 Re: And we can thank the useless NNA for starting the low ball - npross on 9/27/10 1:12am
 Pays your mortgage & sends your kids to school - barely! n/m - Cari on 9/27/10 11:22am
 Re: And we can thank the useless NNA for starting the low ball - desktopfull on 9/27/10 1:16am
 Better is not always cheaper & Cheaper is not always better -  Moneyman/TX on 9/27/10 4:38am
 Simply A Great post IMO n/m -  James Dawson on 9/27/10 12:20pm
 After I posted I realized something VERY -  Moneyman/TX on 9/27/10 12:27pm
 npross you are ridiculous and your logic is absurb! - Cari on 9/27/10 11:20am
 Re: Fees/ $85 VS $100 - npross on 9/27/10 12:59am
 Re: Fees/ $85 VS $100 - Mary Ellen Elmore on 9/27/10 1:33am
 Re: Fees/ $85 VS $100 - Mary Ellen Elmore on 9/27/10 1:39am
 Re: Fees/ $85 VS $100 -  Marian_in_CA on 9/27/10 2:20am
 2 people working but only counting as one for time & costs? -  Moneyman/TX on 9/27/10 5:39am
 Boy YOU'VE GOT SOME NERVE! -  Moneyman/TX on 9/27/10 5:44am
 BUT you STILL have to pay INCOME taxes... -  Roger_OH on 9/27/10 10:14am
 Re: Fees/ $85 VS $100 - Mary Ellen Elmore on 9/27/10 1:04am
 Re: Fees/ $85 VS $100 -  101livescan on 9/27/10 8:24am
 I posted this below, but since you moved topic here - desktopfull on 9/27/10 12:56am
 Re: Fees/ $85 VS $100 -  James Dawson on 9/27/10 1:14am
 Re: Fees/ $85 VS $100 - npross on 9/27/10 1:17am
 Re: Fees/ $85 VS $100 -  James Dawson on 9/27/10 1:37am
 Geez James, do you drive a Bradley tank? < 10/gallon? n/m -  Stoli on 9/27/10 1:55am
 Re: Geez James, do you drive a Bradley tank? < 10/gallon? -  James Dawson on 9/27/10 2:02am
 Re: Fees/...toll roads are a choice... n/m -  Stephanie_CA on 9/27/10 10:15am
 Not if you go from Oaklnd to SF! -  Shoshana/AZ on 9/27/10 11:43am
 Re: Not if you go from Oaklnd to SF! -  James Dawson on 9/27/10 12:11pm
 Shoshana: I was referring to Road tolls being by choice. -  Stephanie_CA on 9/27/10 12:52pm
 Re: Shoshana: I was referring to Road tolls being by choice. -  Shoshana/AZ on 9/27/10 1:11pm
 So is adding the cost to your fees...One I would make... n/m -  Moneyman/TX on 9/27/10 12:37pm
 No - toll roads are not a choice... -  jba/fl on 9/27/10 1:50pm
 Re: No - toll roads are not a choice... -  James Dawson on 9/27/10 1:53pm
 Re: Fees/ $85 VS $100 -  JanetK_CA on 9/27/10 1:38am
 Or...look at it this way -  MichiganAl on 9/27/10 1:44am
 Re: Or...look at it this way I agree 100% w/ everything said n/m -  James Dawson on 9/27/10 2:05am
 Ditto! n/m -  Moneyman/TX on 9/27/10 4:40am
 Same here $100 is the least I do a loan for and thats if it - kathy/ca on 9/27/10 11:17am
 "I promise you there's not one person ..." -  ReneeK_MI on 9/27/10 4:41am
 I think either He or His wife OR Both actually work for -  Moneyman/TX on 9/27/10 5:46am
 Re: "I promise you there's not one person ..." -  MW/VA on 9/27/10 8:50am
 Re: "I promise you there's not one person ..." - Mary Ellen Elmore on 9/28/10 1:15am
 Is $85 your 'one size fits all' fee? - Donna McDaniel on 9/27/10 7:23am
 Claims he refuses to fax anything back. -  Moneyman/TX on 9/27/10 11:28am
 Ahhh..I finally get to use that report button, any one else? n/m - Donna McDaniel on 9/27/10 11:36am
 Using forum to take advantage of and solicit new notaries. - Donna McDaniel on 9/27/10 11:37am
 While I don't agree with lower fees, I see your point. -  MW/VA on 9/27/10 8:43am
 Re: Fees/ $85 VS $100 -  Les_CO on 9/27/10 9:43am
 U hv 2 wrk 28.224 hr day bc @ $85 u need 2 wrk 1.176x more n/m - HrdwrkrVA on 9/27/10 9:57am
 Re: Fees/ $85 VS $100 -  SheilaSJCA on 9/27/10 10:09am
 And ur worth it! 2 bad most don't value themselves or the - HrdwrkrVA on 9/27/10 11:06am
 I'll bet we eventually learn - MistarellaFL on 9/27/10 11:43am
 Snippets of "wisdom" from npross - MistarellaFL on 9/27/10 12:22pm
 That's my guess, too. n/m -  JanetK_CA on 9/27/10 3:16pm
 Your are correct!Work SMARTER for more $ not Harder for less n/m -  Moneyman/TX on 9/27/10 12:45pm
 It's the "lower your fees troll". LOL n/m -  MW/VA on 9/27/10 7:40pm
 Noticed that he hasn't showed back up once exposed! LOL n/m -  Moneyman/TX on 9/29/10 12:42am
 Re: Fees/ $85 VS $100 - NJDiva on 9/29/10 7:17pm

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