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| PWinFL |
Posted - 11/30/2009 : 05:47:17 AM
Besides the obvious, location, date, time, etc. there are two discussions that signing agents should engage in with a perspective signing company or agency. First discussion should be an agreeable fee for services rendered. As an independent contractor, the fee you will accept outweighs the fee an agency is willing to pay. In order to be profitable, the signing agent needs to fully understand what it costs to do a job, including a value placed on the agent's time.
One question that seems not to be asked very often, if at all, by many signing agents is whether or not the signing service/agency is capitalized enough to cover the fee regardless of their receivables, i.e., whether or not they get paid by a title company. As a agent being contracted for services, you have the right to know if you can expect to be paid for your services. A company that has the policy of not paying their contractors until they are paid by their client, is an indication of financial instability. It is unfortunate that too many signing services work this way which put the sub-contractor (signing agent) in jeopardy of being paid. It is also unfortunate that many signing agents take on additional risk by continuing to accept assignments and a "promise of payment" when the agent has extended a substantial amount of credit to the signing service.
Let's face it, many signing agents have been reading the discussion groups, forums, blogs, and bulletin boards and constantly hear about agents not being paid, or at least, having to expend additional effort and time to get paid. The decision to work with any signing service or agency is up to each individual signing agent/contractor. However, it is prudent for the agent to minimize their risk of not being paid as much as possible. Research companies and get ALL information in writing. Don't take the scheduler's word for it. In the mortgage business, there's an old saying that is very applicable in this situation. "If it isn't written, it isn't said."
Never drive any faster than your guardian angel can fly.
I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.
Visit us online at http://www.PAWnotary.com |
| 4 L A T E S T R E P L I E S (Newest First) |
| vince |
Posted - 12/28/2009 : 7:14:34 PM
quote:
Originally posted by jbelmont
There are some good points in this string.
Yes, especially concerning the hiring entity's ability to make payment. Especially following your comment in another thread regarding 50% of signing services websites shut down this year. |
| jbelmont |
Posted - 12/28/2009 : 12:45:07 AM
There are some good points in this string.
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| jfsobers |
Posted - 12/04/2009 : 6:52:22 PM
Prospective Companies: Great information, even for those of us that have been doing it for a while. Thank you for the reminder. I am leary of prospective companies that I have not heard of or those that are vague, but with more caution, it will help. Thanks!! |
| inotarize |
Posted - 11/30/2009 : 4:52:05 PM
Paw, this is an excellent post. Even after being in the business for 3+ years I need this reminder. Thank you for passing on such valuable information.
Michelle L. Riley
Huntsville Mobile Notary - We Come To You!
Serving North Alabama since 2006.
Phone: (256) 503-6595
Email: HuntsvilleMobileNotary@Gmail.com
http://www.huntsvillemobilenotary.com
Follow me on Twitter: http://twitter.com/iNotarize
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