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August 12, 2019

Do your homework

Filed under: Carmen Towles — admin @ 11:31 pm

It never ceases to amaze me how many folks get into this business and don’t know ANYTHING about it. All folks seem to know is that someone came to their house with their loan paperwork and it looks easy enough and they burst out, “Hey, I could do this too! And then proceed to ask; “How do you get into this business?’. And they actually expect you to give them all the little details of the ends and outs of how to get into the business so they can TAKE all of your business. Never, once thinking that this might be improper because why would any of us really want to train our own competition? But some of us do (being nice and all that) but end up regretting it later due to our own demise.

Recently, I was reading a notary forum post about how easy we make it look and that we need to stop this immediately because all we are doing is saturating our areas with more and more notaries that are really not needed. It’s all about supply and demand. Unfortunately, at the time of me writing this there is no real demand for us notaries in this profession. Up until recently rates were steadily going up (went down a little as the writing of this blog) and the real estate markets seem to currently be a little sluggish. But none of this stops the constant flow of signing agents still flocking to the business like fly’s on you know what.

The other contributing factor in over saturation is that you have several places that offer loan signing classes with no regard that they are consistently over saturating the market with notary signing agents that will NEVER see any meaningful work. Just this week alone, I have spoken with a few notaries in various parts of the county that have been at it for months but still no work. Or if they do have any at all it is in limited supply. And the fees are paltry at best. I mean who wants to do a full loan package with scan backs for 65.00??? Please try NOT accept these low fees. It hurts us all.

A piece of advice, you must do your research BEFORE you jump into this profession. Don’t just jump in without knowing what you are getting into first. Check the number of notaries in your area. It might be worthwhile to join some facebook groups and read our forum here at 123notary.com as well as Notary Notary to gain some prospective on the business. There is WAY more to being a notary signing agent than meets the eye.

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1 Comment »

  1. Also, try not to sugar coat that you make a lot of money because between the paper, gas, travel time and in between unexpecteds, (like tire changes and such), it’s not all that its cracked up to be. BUT…if you WANT it bad enough, then go for it!

    When you explain you get paid anywhere from 30 to 90 days out, it usually gives them the understanding that you will really have to budget your money.

    And, that it is not just getting everything together for the business and sit back for the phone calls. You have to put all kind of applications in and BE READY at ANY moment to do the job.

    Also, the fact that you have to do the job on good faith/handshake gives them a full idea of what they will gain or lose. I have been burned by a number of people in this business and its crummy but I live and learn who the good ones are as opposed to the crooks.

    Good luck in everyone’s journey.

    Comment by Jacqueline — November 29, 2019 @ 6:46 pm

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