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 Should I take a lower fee during slow times?
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Dannotary

California
265 Posts

Posted - 10/27/2014 :  11:47:31 PM  Show Profile  Visit Dannotary's Homepage  Reply with Quote
NO, your expenses do not go down in slow times. You accept less and make little to nothing-not why we are self employed.
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Florida Girl

Florida
11 Posts

Posted - 09/02/2014 :  07:06:30 AM  Show Profile  Reply with Quote
It may be slow, but we are worth, and need to make the same amount for the same job. Cost to become and remain current, keep rising If you take less one time, you will be asked to take less, when there are many signings. When signings are few and far between, fill in with something else, but always know your worth.

Linda Ann Frezza
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9932

Illinois
5 Posts

Posted - 02/27/2014 :  06:11:33 AM  Show Profile  Reply with Quote
I have never lowered my fees, been doing this for 16yrs. like the other guys said. they will never lower their fees to the title company, they are slow too, so they are trying to make what they are losing by getting you to lose $$. don't do it!! it will set a precedent and you will never be able to go back. remind them of the great job you do and have done in the past, you get the job done right, THE FIRST TIME. the little part time notaries will be gone soon. stay the course, it wont pick up again until the end of the year, but like the one lady said, find a part time job to make up the difference. reach out to me if you want to make some part time income, I have something that anyone can do anywhere in the country, and you are helping families. trust me, its awesome and you get paid right away. montanachris@comcast.net

CHRIS MONTANA
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Dannotary

California
265 Posts

Posted - 02/07/2014 :  12:16:06 AM  Show Profile  Visit Dannotary's Homepage  Reply with Quote
It is really hard to take yourself off the discount rack and put yourself into the locked cabinet with the valuables later.
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Dannotary

California
265 Posts

Posted - 02/07/2014 :  12:14:18 AM  Show Profile  Visit Dannotary's Homepage  Reply with Quote
NO!!! Do not take a signing at a low price, maintain your prices. Ask yourself this: Just because its slower now, will my LIABILITY be any less? And are my expenses for doing the signing going to be proportionately lower? NO, they won't. So if you want to go out for less, its like working just to pay your expenses, and you make nothing. My question to companies who want me to do it for less is: 'And by what percentage are you decreasing YOUR side of the fees these days?' They probably are not reducing at all and just increasing THEIR profit margin on YOUR back.
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paulcr

North Dakota
34 Posts

Posted - 10/30/2013 :  1:18:41 PM  Show Profile  Reply with Quote
I would start doing that at this time. Like was mentioned before, once you do, it will be what is expected in the future.

Also, with the new standards for Signing Agents coming, there are going to be a lot fewer Signing Agents so the signing companies are going to have to raise their fees again as the demand for Signing Agents and the supply of Signing Agents is going to shift and they won't have a choice. Simple dynamics of supply and demand.
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LindaH

Florida
1754 Posts

Posted - 10/23/2013 :  09:32:35 AM  Show Profile  Reply with Quote
Nothing wrong with accepting a lower fee at all....BUT!

1. You take that lower fee once and you've set a precedent - you'll NEVER be able to go back to where you were before.

2. You're operating at a loss - there's no way you do a loan signing for $60 and realize a profit.

My suggestion? Like Ken said - expand your horizons; and while you're doing that get a little part-time gig to help out but, in the meantime, stick to your fees and amp up your marketing to title/escrow companies.

Once your lower your fee you've slit your own throat.

JMO

Linda
http://www.columbiacountynotary.webs.com
http://www.notary.net/websites/LindaHubbell
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edelske

New York
813 Posts

Posted - 10/22/2013 :  9:30:21 PM  Show Profile  Visit edelske's Homepage  Reply with Quote
Read the links, there is more to your Notary commission than doing signings, open your horizons. If nothing else, your time would be better spent distributing your business card to local store managers, medical offices and attorneys. GROW your OWN business and don't wait for the "wrong end of the stick" to be handed to you by lowballers.

Have you REALLY been active at promoting your business?

Keep an eye on my blog, an upcoming article "Rich Man, Poor Man" has many suggestions for your situation.


http://blog.123notary.com/?p=4180

http://www.123notary.com/forum/topic.asp?TOPIC_ID=2921&SearchTerms=diversify


Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com

Edited by - edelske on 10/22/2013 9:31:48 PM
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mcnotary

Florida
1 Posts

Posted - 10/22/2013 :  8:17:56 PM  Show Profile  Reply with Quote
Normally, I would NEVER accept $60.00 for a refinance closing with e-docs and faxbacks, but I have been so slow for the last couple of months, I don't feel like I have a choice. Any thoughts?
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