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November 7, 2016

Which is more important? Doing a notary job or…

Most Notaries are creatures of habit. They do what they are accustomed to doing without thinking about what is more important. Those who get ahead in life have priorities and do the most important thing as fast as they can whether its customary or not.

Which is more important?
Notary Training
Doing a Notary Job
Getting a review
Taking jobs from individuals
Getting Paid
Facebook

In real life we have to do all of these things, but in what proportion? As far as your Notary career goes, the most amount of time will be spent doing actual jobs. However, man cannot live by notary jobs alone. You also need to fit in other things.

Study before you practice
At the beginning of your Notary career, many Notaries want to study as little as possible and jump into work. Sounds like me when I was 14, but I’ve grown up since then and believe in the art of knowing what you are doing and mastering my trade. Have you grown up? I did over 30 hours of study to become a notary and another 30 hours of study to become a loan signing agent. Compared to the time I spent in college it was nothing. But, being diligent about learning is important as the Notary profession requires a certain amount of knowledge and due diligence.

Too busy to get a review?
Getting reviews is something that most Notaries overlook because they are “too busy.” Asking for a review is worth roughly $83 per minute of your time. If you are “too busy.” Ask yourself what the value per minute of the tasks you are doing that make you too busy are. You will find that the work you are doing is worth 40 cents per minute that you are doing at the expense of $83. Which would you rather have after four minutes of work, $1.60 or $333? Most Notaries choose the $1.60 which is why they were born poor and will die poor if they get paid at all. The fact is that the value of reviews is like a goose that lives for three years and lays golden eggs. Every review you get will be read by hundreds of people, will affect their hiring decisions, and will make you popular for three years. You need new reviews as the older ones lose their impact on the buyers hiring decision.

A great strategy
Taking jobs from individuals when you normally take only Title company work is a very important strategy. Title companies are stingy about writing reviews. However, if you do a great job working for individuals, they will be a lot easier to get a review from. It is worth it from a strategical point of view to take jobs from individuals needing an Affidavit or Contract notarized just for the possibility of getting a review.

Don’t forget to send bills
Getting paid is also critical. Most Notaries don’t understand that being a Notary is not only about doing Notary work. It is about background screening companies before you take work from them to make sure they are reputable. That extra two minutes you spend background screening could save you from a nightmare down the road. So, why not spend two minutes background screening a company, spend more time writing threatening letters for payment, and spend a few minutes getting reviews.

Facebook & blogs
Facebook is a great way to read articles about the Notary profession, and to make yourself visible as a Notary if you attract local people. Reading blogs is a great way to augment your knowledge as well. It is not the same as formal study, but you can learn a lot and get a few laughs too.

Summary
If you are a Notary who spends 100% of your professional time doing Notary work, you will fail miserably. Instead, spend 3% of your time banging on the doors of title companies, signing companies, hospitals, and attorneys letting them know you are there. Spend 1% of your time asking for reviews. That 1% will get you 100% more business. Lose the 1%, lose the 100% — the math is simple. Allowing more time to send bills and threatening letters to signing companies who are late paying you will pay off too. That extra one hour per month or 1% of your timecould get you a few hundred back. Background screening companies a few minutes per company could save you from endless nightmares not getting paid or being jerked around. Working for individuals is the best way to get reviews and get paid cash — so, why would you not go out of your way to do this as a business strategy. Finally, those who keep in touch with what’s going on in the industry via Facebook, or blogs stay more informed, appear more knowledgeable and feel like more of a part of the industry. So, spend only 90% of your time doing actual Notary work and use the other 10% for activities that have exponential value!

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You might also like:

You lose $37.50 each time you don’t answer the phone
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Signing companies hire you based on how good you are, NOT how good you claim to be
http://blog.123notary.com/?p=16556

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August 4, 2016

Japan’s interest rate is negative; How does this affect Notaries?

If you are wondering what is going to happen in the United States, it might be helpful to see what is happening in Japan. Why Japan? Because most Western nations are deep in debt to the point where we may never be able to pay it back — or at least not in the next 40 years. Japan is further along in its debt. I am not an economist and have no idea if the United States will follow in Japan’s footsteps, but it seems very possible. Here’s why.

In America, for the last 100 years or so, interest rates went in a cycle. They went up and down and up and down. The cycles were roughly 18 years from start to finish unless a war or other irregular conditions interfered. However, now, our rates are around 4% and have been for a long time. People think that rates will go up. And if rates were determined by market conditions they might. However, I am not sure if market conditions affect rates as banks will not loan to most people these days. Perhaps they refuse loans to regular folks so the government can eat up more cash at low interest rates?

The fact is that Japan’s interest rate has been getting lower and lower for the last 40 years. Finally, it is at negative .1%. How can an interest rate be negative? It is like paying the bank to keep your money. You would be better off keeping it in your bed. On a brighter note, the value of the Yen comparative to the dollar has been getting stronger for hte last 45 years making it not a bad investment to buy Japanese government bonds at 1% interest or whatever they are paying. Personally I don’t understand all of this crazy borrower and investing. I think that the plan to have a global currency based on the gold standard makes a lot more sense than this insanity.

So, basically, does that mean that interest rates in America will fall to zero as America becomes more and more in debt? That way the government can borrow money for free just like Japan can which makes no sense. These governments can keep borrowing forever. Housing prices in Japan have been going down for twenty years little by little. Does this mean we will lose the equity in our homes in America little by little too if America mirrors Japan? Good thing I don’t own a house! I own stocks and gold instead!

So, what does this mean for the future of the Notary profession? It looks like there won’t be a whole lot of refinances. And if people lose their equity, then there won’t be as many reverse mortgages ten years from now. I better think of an alternative business. This doesn’t look good.

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How low interest rates killed the Notary industry
http://blog.123notary.com/?p=16500

The end of the world has been postponed
http://blog.123notary.com/?p=2885

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April 20, 2013

Types of witnesses in the notary profession

Types of Witnesses in the Notary Profession

All the names of witnesses in the notary profession can be confusing if you don’t know your terminology. I am going to write a brief tutorial of various types of witnesses.

Witness
Anyone who witnesses a signature can be a witness. In general you should be 18 years of age or older to serve as a witness. A witness could engage in the act of witnessing a signature.

Credible Witness
Most states allow the use of Credible Witnesses to identify a signer. Some states will allow two Credible Witnesses who know the signer, but do NOT know the notary. Some states will allow one Credible Witness who knows the signer as well as the notary. Some states will allow one or two Credible Witnesses. Consult your state’s notary handbook for details.

Credible Identifying Witness
A more legal or technical term for a Credible Witness

Executing Witness
Also known as a Subscribing Witness that would be used in a Proof of Execution signing. Don’t make a mistake on this type of notarization or the joke is that you will be executed!

Subscribing Witness
A witness who watches someone else sign their name. The word “sign” can sometimes be synonomous with the word “subscribe”.

Subscribing Witness for a Signature by X signing
A Subscribing Witness is also the term for someone who watches and assists in a Signature by Mark or Signature by X signing.

Witness to a Jurat Signature
Notaries are required by law to witness signatures that correspond to Jurat notarizations. Signatures that are to be acknowledged on the other hand, do NOT need to be witnessed, and can be signed before (even years before) the signature is acknolwedged.

Witness to a Will
Being a witness to a Will is similar to any other type of witnessing, except for the fact that the witness might need to (or probably should) document the fact that they witnessed a will signing on the signature page of the Will. Wills are by definition, orten much more serious than any other type of document.

They are often more important even than Power of Attorney documents or Grant Deeds. Another reason why witnessing signatures on Wills is so critical is because the signer will probably be dead if and when the document is disputed. It is too late to drag someone into court to testify if they are deceased!

You might also like:

Can a notary witness a Will or notarize one?
http://blog.123notary.com/?p=1525

Credible Witnesses from A to Z
http://blog.123notary.com/?p=452

Identification requirements for being notarized
http://blog.123notary.com/?p=4299

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