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[quote][i]Originally posted by jomijomi998[/i]
[br]I will TRY to keep this simple.  I started working as a Mobile Loan Signer in 2002 when I was laid-off from my permanent job and refinanced my home.  I was very excited about my new role, enjoyed the flexibility and got great joy out of meeting the borrowers.  I felt good about providing a service that helped others.  
While focusing really hard on building my business into a substantial business to avoid going back into the unstable world of corporate America, I was offered a job back at my previous employer one year later.  I still tried to maintain the notary business by doing as many as I could in the evenings and on weekends, which wasn't easy since I'm a single Mom.  I was blessed to maintain my day job until being laid off again in 2009.  I still pick up signings when I can but have noticed major changes as a result of the e-docs. I've been trying to build my notary business again, but have been faced with the following obstables:

- E-docs -vs- overnight packages (never sure when to expect the e-docs)

- Negotiating reasonable rates (I'm losing most jobs because of my rates and when I do accept signings for less, I almost alway lose)

- Coordinating my time effectively due to the paper chase

I am trying to continue to do this, but absolutely HATE the changes the e-docs has caused for the business.  I'm frustrated, but not wanting to give up.  I need some advice from any of you that have found ways to work around the obstacles, especially the paper chase and the stress involved with coordinating your days.  It's almost impossible to book more then one signing per day since almost 98% of the time I don't know when I will receive my docs.  I don't like tying up my entire day for just one signing.  Is this the only way?

Also, I don't feel it's worth my time if I don't get at least $75.00 per signing plus $25.00 for printing and copying the e-docs.  If the location is further than 40 minutes, I add $25.00 more to my rate.  So I'm asking for at least $125.00 and being beat out by others.  What's considered reasonable rates today?  Am I asking for to much?

I got a call for a Debt Consolidation closing today, but obviously lost out to a notary that accepted lower pay.  From what I read on this forum about Debt Consolidation closings, it was a good thing I missed out. What other ways are notaries making money today?

Sorry for the long post.  I'm just trying to figure out how to jump back into this business and make it work for me.  Any advice or suggestions are greatly appreciated.

Thanks!

jam-m
Kingwood, TX
[/quote]

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T O P I C R E V I E W
jomijomi998	Posted - 07/15/2011 : 9:23:56 PM I will TRY to keep this simple. I started working as a Mobile Loan Signer in 2002 when I was laid-off from my permanent job and refinanced my home. I was very excited about my new role, enjoyed the flexibility and got great joy out of meeting the borrowers. I felt good about providing a service that helped others. While focusing really hard on building my business into a substantial business to avoid going back into the unstable world of corporate America, I was offered a job back at my previous employer one year later. I still tried to maintain the notary business by doing as many as I could in the evenings and on weekends, which wasn't easy since I'm a single Mom. I was blessed to maintain my day job until being laid off again in 2009. I still pick up signings when I can but have noticed major changes as a result of the e-docs. I've been trying to build my notary business again, but have been faced with the following obstables: - E-docs -vs- overnight packages (never sure when to expect the e-docs) - Negotiating reasonable rates (I'm losing most jobs because of my rates and when I do accept signings for less, I almost alway lose) - Coordinating my time effectively due to the paper chase I am trying to continue to do this, but absolutely HATE the changes the e-docs has caused for the business. I'm frustrated, but not wanting to give up. I need some advice from any of you that have found ways to work around the obstacles, especially the paper chase and the stress involved with coordinating your days. It's almost impossible to book more then one signing per day since almost 98% of the time I don't know when I will receive my docs. I don't like tying up my entire day for just one signing. Is this the only way? Also, I don't feel it's worth my time if I don't get at least $75.00 per signing plus $25.00 for printing and copying the e-docs. If the location is further than 40 minutes, I add $25.00 more to my rate. So I'm asking for at least $125.00 and being beat out by others. What's considered reasonable rates today? Am I asking for to much? I got a call for a Debt Consolidation closing today, but obviously lost out to a notary that accepted lower pay. From what I read on this forum about Debt Consolidation closings, it was a good thing I missed out. What other ways are notaries making money today? Sorry for the long post. I'm just trying to figure out how to jump back into this business and make it work for me. Any advice or suggestions are greatly appreciated. Thanks! jam-m Kingwood, TX
2 L A T E S T R E P L I E S (Newest First)
jomijomi998	Posted - 07/16/2011 : 2:21:25 PM Thanks for your response CopperheadVA, I'm glad to hear that I'm in line with my rates. Given the hassles I've faced just dealing with the e-docs alone, I just can't understand how anyone can possibly see a benefit in doing signings for less. I really want to build this business as I enjoy the work, but simply can't work for pennies. This is not 'fun money' for me and I'm trying to make a living as a single parent. I'm thinking the SS are bidding their jobs low to the TC in order to stay afloat and maintain their companies in this economy. So everyone's doing what's necessary to survive today. I can understand that. But since there are no laws regulating our rates, as long as we have the notaries picking up the low paying jobs, we will eventually lose and be flushed out. These notaries obviously have not calculated the amount of money they are making per hour for their time. If anyone know of other ways I can supplement the signing business and make money as a notary, please let me know. Thanks again CopperheadVA for your comment. jam-m Kingwood, TX
CopperheadVA	Posted - 07/16/2011 : 05:13:22 AM I agree that it was good that you missed out on the debt consolidation appointment. I steer clear of those. As far as your fees, I think they are completely in line with what a quality notary charges, and in fact are a tad on the low side compared to what I charge. Unfortunately, there has been a real push recently by TC and SS to lower fees but it has gotten to the point of absurdity. And even more unfortunately, there are notaries who will accept these fees! SS are bidding their jobs to TC at the rates that we would normally get if we were working directly for the TC, so when SS calls offering a job, the fee is $65 - $75, or maybe $100 on rare occasion. There have been recent reports that Service Link has lowered their fees to $45, which is for O/N docs but if it turns into edocs then they pay an additional whopping $10! And then you wait 30 - 45 days for your payment. At that price point, what is the incentive for us to continue in this business? I cannot imagine that Service Link will get quality work from these $45 notaries, so this strategy may well backfire on them big time. The good news is that there are still a few good companies around that will pay a decent fee and value having a quality notary complete their closings. I turn down a lot of lowball jobs too. It hurts to turn jobs away but I will leave this business before I accept $45 - $75 per closing. CopperheadVA