Free "How To Start" Notary Signing Agent Book
by Brenda Stone of TexNotary.com
Find Texas Notaries with hundreds of signings experience and reverse mortgage experience here
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What prices will you charge?
If a person comes to you for a notarization, you can only charge what your law says you can charge. In Texas, I can charge $6.00. All of my rules about things in my notary business (set by the state) are here: http://texnotary.com/texnotaryedu.htm .
Regarding your prices which are charged as a notary signing agent, well, this is an impossible question to answer straight and to the point, because there are laws against price fixing. Visit the Department of Justice's site if you do not believe me.
There are many ways to do it.
When I personally started out, I took a base fee, and added $25-$35 for the next county over. Two counties over was $50-$75 miles, the next county away was $75-$100.
I added a $25.00 fee for edocs. I have never, ever charged more than that for edocs. However, some charge as much as $50.00 for them.
For instance, my fee would be $xx.xx for a base charge. $xx.xx + $25.00 + $35.00 (travel to next county).
When you are quoting to a signing service, as of this writing, except for the low-ball signing services, you can usually get as much as $125.00 for edocs and travel. But, if you are in a saturated area, you need to be realistic and see that you will not get more than probably $65 - $75 for jobs while competing against people who have not yet read this book, or who are so desperate to make up some of the cash outlay they blindly made before studying this business that they will take almost any job.
What they do not realize is that they are actually digging themselves a deeper hole by taking these jobs when outside of their immediate zip code. I have been reading on the forums that signing services are expecting notaries to go as much as 50 miles for $75, and sometimes with edocs included!
Just yesterday, however, I was offered $125 for a job 50 miles away. That was the most they could pay. For me personally, that is a resounding, "No, thank you!" Read this closely: When I said no to this ridiculously low fee, this signing was turned back over to the title company, the title company called me and agreed to a reasonable fee. While that may not work for you, it absolutely does work for me. I have no interest in doing "favors" for signing services. I do not recall one time that a signing service offered to do me a "favor."
It's no secret that I personally do not like working for signing services who are making as much as I am for merely calling and setting me up for the job. A personal mantra of mine is, "Don't quote scared."
I know what it costs me to be in business, and if I cannot make a profit, then I need a new business. (Refer to Chapter 6 for resources to receive free business consulting.)
To quote "scared" is to be used by signing services. The other night I did a job for $175.00 which a new notary quoted for $40.00. This is because he had no idea of what he was quoting. There were edocs, last minute problems, extra documents, and it took a second trip to correct them. The new notary was unable to download the documents. After they put the signing back over the me, the new notary called and said he did not know what all had been involved.
This is why I am writing this book for you. I am not selling it to you, I am giving it away for free so that you, too, can never find yourself in a situation where you are quoting scared and getting used.
When you give away a valuable service for a loss, you are also hurting my business in College Station and Bryan, Texas. The people who call me want me to work for free, cheap and at a loss when they get used to hearing from people who'll take these jobs on for $40. Please reconsider before you do this kind of thing.
Know what your business
COSTS you and bid accordingly!