There are several ground rules when it comes to negotiations.
1. The first offer rule
The person who makes the first offer will never get an optimal price. If you start the bidding first with a high price, you might just get declined without being given a chance. If you ask too little, you will miss out on more pay. If you let the other person make the offer, you will end up with more on average.
2. Whining ruins your image
Notaries are notorious for whining. “You only pay $70….. OHHHHHHH, why can’t you pay more?” Who needs this behavior? If you are such a great notary, you would have plenty of people offering you $125 to $150, and you would just hang up on these low-balling fools. But, if you whine like a baby, nobody will want to work with you even if you accept their pathetic offer. Most notaries are so bad, they are probably not even worth what the low-ballers offer them. Most notaries refuse to study to become fastidious professionals.
3. Take it or leave it
Sure, nobody likes fax backs, but don’t complain. You either accept the job or you don’t. If the signing has 300 pages per set of documents, don’t complain. You either say yes or no. When I do my billing, people always ask me, “What did I pay last year?”. My comment is that it doesn’t matter because last year is over, and that doesn’t effect what this year’s price will be. They want to waste my time looking something up for their emotional gratification which affects nothing. What a time waster. Don’t behave like this. If someone makes you an offer, you take it, leave it, or negotiate. If someone wants to politely negotiate with me instead of whining, they will get a lot farther. First of all I will value them more as a long term client. Second, I will know that they will behave professionally with the people who use my site — and I value that much more than how they treat me. Third, it is not a headache to deal with them. If I ask for $200, and you want to offer a polite counter offer, then go ahead. $100 would be rude because it is out of the ballpark. But, what about $150? Try it. I will probably say no, since my prices were computer generated using six inter-connected formulas. But, it doesn’t hurt to ask.
4. Getting companies to up their fee by $35 is possible
But, I know some very fancy notaries who are at the top of their game who get $50 companies to pay $85. These smooth operators get close-by jobs for $85 that are only a few minutes away. They have fast printers that print 45 pages per minute, so the double set of documents takes less than 10 minutes. They buy their toner or ink wholesale. They don’t whine — they PLAN, and they negotiate! So, in a little more than one hour, these seasoned Ninja Notaries get the call, print the documents, go to the job, get it signed, and get back home, and send the invoice. After expenses they probably made almost $70 per hour. Not bad! So, how do they do it?
5. How to impress the client
A seasoned notary will explain calmly how they are famous for doing clean-up jobs after notaries who didn’t know what they were doing ruined a loan. Why not start with a pro and get it done right the first time? How much did you say you offered again? $60? I understand that you are on a tight budget, but my minimum is $100. I can help you out for $85 today though, since I have a little more extra time than I normally do. Wouldn’t it be worth it to you to hire someone who has signed 4000 loans, and who is meticulous? I have state of the art machinery such as an HP 250,000 printer with quadruple trays, and I can explain all of the documents. Would you like to drill me and ask me a sampling of your hardest loan signing questions to see if I am up to your highest standards?
6. Ask them to ask you their toughest question
Most signing companies don’t ask notaries questions. They should. If you ask notaries questions, 90% fall on their face because they don’t have a clue what they are doing. So, if you do know what you are doing, tell the signing company to shop around, but to ask each of the notaries they talk to how they would explain the APR to a non-borrowing spouse. If you don’t get a good answer after 45 minutes, then call me back! No notary with fewer than 5000 signings can do a graceful job of answering this question even though it is ridiculously simple. It requires study, and most notaries are opposed to that idea!
7. Don’t say anything that sounds phony
Please notice that all of the points I made sound real. None of this, “I’m professional and accurate and do error-free signings.” That sounds phony. Make real selling points because you are selling yourself to people who have been in this business for years and have dealt with thousands of notaries — most of them bad ones at that. Figure out what to say that proves that you are the logical choice to hire, even at an inflated rate. After all, the extra pay translates into less aggravation after the fact. How much aggravation and potential re-drawing fees is the $20 savings worth to you anyway, you tell me?
8. Having a pricing formula sounds impressive
If you don’t like to negotiate, but like to use pricing formulas, that will make you look good. People who understand distances, time involved and other expenses are true professionals who know their business inside out. You might not always get the highest possible fee with formulas, but you will get respect and repeat business.
9. Negotiation points summarized:
I do clean-ups for other notaries who make mistakes; 5000 loans signed; ask me your hardest loan signing question and then ask the other notaries who you are calling; I have an HP (name) printer that prints 45 pages per minute. I have a mobile office — beat that. I’m ready now — let’s do this! All work guaranteed or your money back!
A comprehensive guide to Notary pricing
http://blog.123notary.com/?p=16504
Can you negotiate prices with SnapDocs?
http://blog.123notary.com/?p=16236
Negotiating with aggressive callers
http://blog.123notary.com/?p=16278
Notary Marketing 102 – Negotiating Fees (a thorough guide)
http://blog.123notary.com/?p=19784
I felt like I was being used (Snapdocs assignment)
Another Notary worked for Snapdocs and had an emotional reaction after the fact. She got one of those low-ball assignments, took it, and then complained she felt like she was being used. If you don’t like working for below market rates, nobody is putting a gun to your head! This new signer was concerned about wear and tear on her car, ink, paper, gas, etc. The bottom line here is that anyone who uses you is using you no matter the price. You sell your services for money. The question is, do you know the value of your time and do you know the itemization of your expenses for various types of jobs?
There is no set value on your time, so you have to create your own value. If you don’t know your value, how will you accept or reject jobs. For newbies, the value of getting work under your belt is much more than the value of your dignity. An inexperienced Notary in my book is not worth much. If you have less than 1000 signings and no certifications, I personally wouldn’t use you for anything. If you have 5000 signings and three certifications, then you become valuable as long as you have a good track record.
SIGNING CO: Would you do this modification for $100?
NOTARY: I will not – I have morals
SIGNING CO: How about $1,000,000?
NOTARY: Well, okay…
SIGNING CO: How about $150
NOTARY: What kind of Notary do you think I am?
SIGNING CO: We’ve already determined that, we’re just haggling over the price.
You might also like:
Do you compare yourself with others on the 123notary search results
http://blog.123notary.com/?p=18882
What is a high spot on 123notary worth?
http://blog.123notary.com/?p=16720
The state of Notary advertising in 2016
http://blog.123notary.com/?p=16738