Becoming a Notary Signing Agent is a Waste of Time & Money in 2024
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- Опубликовано: 1 авг 2024
- One thing I forgot to cover in this video regarding expenses is insurance. I totally forgot to mention it when going over expenses. Most new notary signing agents are going to invest in additional business insurance. The cost of this insurance is going to vary from company to company. It's also going to be influenced in part by your own personal credit. Budget for $50/month or $600 a year and that should be more than enough. I think that is all I forgot, but please feel free to drop a comment if I missed anything else.
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It’s tied to the mortgage industry. It operates in waves. 22ish to the present has been crappy. But go ahead and listen to her if yall want, when rates go back down I’ll be ready.
I think that, although her breaking down is valid, I believe that telling people to not waste their time is a bit too dramatic. Yes, it takes 30 signings, but you will NOT have only 30 signings per year. Also, it is also true that there are notaries who have been in the business for many years, but guess where they had to start?? From the bottom! There are opportunities out there for everyone. Notary is one of the oldest professions in the world, and there are millions of ppl who will always need notary services. Having said that, I do agree that if you really want you can get to the top It’s no easy task, but every successful entrepreneur knows that building any business isn’t easy. It’s all about how hungry you are. Do you want this as a side hustle or do you want this as your main source of income? Treat is as side hustle, and you’ll get paid as a side hustle. Treat it like a business, then you get paid like a business. The only valid point of this video is the break down. Discouraging people isn’t not cool.
Thank you for your comment!
I departed from the Signing Service industry amidst the COVID pandemic. Being a Signing Agent for these services often feels like being a glorified W-2 employee. If you enjoy being micromanaged, having your schedule and pay rate dictated to you, then by all means, continue down that path. However, I opted to transition to General Notary & Ink Card Fingerprinting, and I haven't regretted it for a moment. Now, I set my own rates and enjoy a steady flow of clients, primarily through referrals and Google searches.
I agree, it’s a business most things she explained that’s an “expense” can be written off.
I am one and I must say that these 3rd party loan companies put out with down right the lowest jobs. It's sad so I just leave it be.
@@notarynerds You can lead a horse to water but you "can not" make it drink. Thank you for taking the time to share this valuable information. Blessings and peace.
Also I did not see this as discouraging. I see it as a realistic point of view which I appreciated. I'm a current business owner looking to add this to my repertoire, so the honest break down of what to expect is very helpful.
So you’re discouraging new notaries from signing up for training on other platforms cause it’s “not worth it in 2024”.. but joining YOUR network and taking YOUR training is? 😂✌🏻
Not exactly what this video was about. But thank you very much for commenting!❤️
IKR
😂
I’m not spending any more money on training. I have spent enough now I need to make money.
Amen!
This the type of breakdown I wish more people would actually do. This is realistic, this is based on numbers, and actually proves out a business model which shows cashflow and time delays.
This is fantastic!
I didn't have to do all of that to competently conduct a signing.
All I needed to do was familiarize myself with copies of the basic documents that are in every type of signing, and I was off and running.
I'm in California too.
For those new notaries who will review these comments; can you explain what steps you took to get your signings to start coming in and what your typical margins are and the average age of your invoices?
That would be awesome if he could do that ?@@notarynerds
@notarynerds572 Congratulations To All New Notaries
I have been in real estate for 17 years, the last 3 years I have been in mortgage. Although I was not in the Closing Department, I feel too I won't need an actual course, but its in the back of my mind. I have no clue all the documents they sign at Closing and I have seen the 1 inch stack so there's a LOT I have never seen becuase I have never closed on a home personally.
Same here. I didn't pay for expensive GuRu packages that all of these people were selling.
I usually submit a higher bid when I get an offer… sometimes they bite and sometimes they don’t… I am doing this full-time and GNW and Apostilles help my biz to thrive..Thank you for the breakdown…I am right with you on the Gov/State contracts… great way to leverage👍🏾
I do understand where you are coming from. I got my Notary certification about a year ago and haven't done one signing because I found out about so many fees that I did not realize I would need in order to really get started. 🤦♀ Plus the state of MN where I live makes you pay another $350 dollars to do loan signings because they want you to be a real estate closing agent. Now I need to redo my certification because it has already expired! 🤦♀🤦♀🤦♀. But that being said I'm not discouraged from doing it and I said all that to say this video is very helpful for new Notaries to understand what you will need to consider to get started. Thank for the video the information from the perspective a person desiring to get into this business is very fundamental. 👍👍👍💛💛💛😄
BOOM! SHE'S SELLING HER COURSE.
Show me a university that isn't. The key is doing so responsibly.
@@notarynerds She full of mess
@@notarynerdsIt's not that you're selling your course that's rubbing people the wrong way. It's the fact that you're title says becoming a LSA is waste of time and then you talk about the course you're selling. By all means sell your course. Based on this video you seem to really know the industry and I totally respect the hustle. I think if you didn't say it was a waste of time you would get a better response, so perhaps ,
"The unexpected challenges of becoming a LSA", or something, might be received better. Just my thoughts. I will be honest and say that this is the first video I've come across that breaks all this down and I appreciate that.
@@CharleneOrtizTraining I agree. , I think the title is to get your attention but I think she is being honest, so you see a clear picture ahead, its more honest then others .
Great video! New soon-to-be Notary- unfortunately I haven’t received my commission yet so hopefully I can catch the next training session, can’t wait!
I'm getting little to no signings. I started to get some work doing fingerprints and other affidavits after I listed my business on YELP.
I appreciate the information and the organization is very hard find these days. I missed the 3/11/2, catchimg the next. I can't wait for the Ron training
I thank you for this video. It is more honest that most videos out there and you have some serious advice that I will certainly follow.
Glad it was helpful!
As a notary in California, building LLC costs $800 per year. Biberk E&O insurance $380 per year. Notary exam, required education, and bond are $200 every 4 years in CA. Monica, I know you are in TN. But if you are in CA, the cost to become a notary signing agent is WAYYY more than your estimates. That said, your video is no doubt the best for new notaries in 2024. You tell the truth and the whole truth. Thank you Monica!
Yes, once I finished the video I was like, those expenses were low even for Tn. I couldn’t even imagine trying to start a notary signing agent business in California.
Monica "You Are Correct"
@@notarynerds I am just starting down this Notary journey in NC(I have my stamp). Before listening to this video, I just felt in my spirit it is not worth it and I do not want to spend my time in a car running all over Charlotte NC...The traffic is horrendous. I like a simple life, not a hectic one. My state of NC has approved a version on RON, They are calling it REN, but they are building rules and regulations around it now, so It is not fully approved to do it from NC. Do you have any thoughts about doing notarial acts remotely?
Wow sis your going to spend money in anything business you do ( on top of that I’m a real estate agent so an an add on would be a good way to go)
Facts. And the smart entrepreneur spends intelligently making business decisions on the available facts minus emotion.
Thank you Monica!! A lot of videos aren’t giving realistic expectations. In Maryland the cost of investment is on the higher side. Most of the information that I see doesn’t go into profit margins and doesn’t quantify time. I definitely think you have to diversify your business to see what other services you can offer within that scope.
You’re welcome. And exactly! Which is why I had to add a video with reality to the mix.
Yes, thank you Monica! I am also in Maryland. In addition to all that was mentioned, before you can begin working as a LSA you have to get a TIPIC license (Title Insurance Producer Independent Contractor) which involves taking a class that ranges from $399-$599, next pay to take the exam, then pay to apply for licensure.
Greetings, Maryland Notaries. Check out Maryland Notaries In Action.
@@gr8speechslpGreetings, Check out Maryland Notaries In Action
Wow!! Thank you for this video! I am new notary and was going to go this route. I’m going to check out your recommendation. Thank you!
You are very much welcome🙂
thank you this opened my eyes to the reality of what to expect if I choose to continue on this path.
Can I know your experience, I am thinking about becoming a notary and as soon as possible a ron because I want to work from home in Florida
Flawless assessment, Monica!
Thanks!
I agree, it's not worth it now. Things have changed for sure. I am in HR by trade, but I was trained by the NNA in person in 2004 for $50 bucks. (They came to the Holiday Inn). They actually reached out to me back them to come to their live training. I wanted to do this just as a side hustle at the time. to make "extra" money. I have been doing this full and part-time, off and on since 2004. I've made great money especially in the early year. It's definitely harder and a lot more expensive. Best of success to all who wish to move forward.
great video. Thanks for sharing.
Very informative. Thanks!
17:35 YOU ABSOLUTLY CAN BUMP THEM OUT OF POSITION!!! You have to be consistant and deliver good work!!!!
Thanks for confirming the reality: there is in fact an existing list of preferred notaries. And that new notaries will have to contend with that fact if they plan on becoming loan signing agents in 2024.
Thanks for the honesty Fl notary here I’m glad you broke this down because I wish ll these “gurus” were honest about all the fees
I am about ready to give up my loan signing no one wants to pay even with gen notary I’ve had people argue with me about my price I have an suv tolls gas and maintenance is not cheap or free even if my husband do the work for me. I’m spent
I didn’t even factor in tolls! You are so right. And thanks, I debated on whether or not to do this video and ultimately said “the truth is the truth.”
I’m thankful for the realistic outlook. I’m looking toward the government contracts and have decided that that is my next move
Thank you for sharing!😄
I am just getting started. I have the favor of God. I have a plan to make it work. I am already a business woman. Like every business the begging it hard, but once you put God first , consistent, work hard you will get it. One strategy to share is sigining up with 100 loan signing agency. Next go door to door, talk to people. Use my spare time to market.
Thank you for the real facts.
Yeah…Thumbtack and Yelp were useless for notaries because you pay for the lead whether you get the job or not. Those services are great for like nail techs and restaurants because you can get recurring business from one lead. That isn’t the case with notaries.
I'm a notary in VA and I find Yelp to be helpful in clients finding me. I don't pay for any if the services they offer.
Well said I think I darn neared bellied up with thumbtack charging me wether or not I got paid and yelp is a once in a blue mooner for me here in FL I’ve had no luck with google my business and I started 2yrs ago. I keep afloat out of my personal min and not the business. I added currier to it now and that brings in way more than the notary I’ve only had 2 signings since the yr started. I jumped on the bandwagon of little to no start up fees which I quickly learned bunch of crock .Biz tax Recert membership. I tried partnering with other notaries like if they can’t take the work pass it on vice versa but everyone testing to be selfish these days
Very insightful
Finally someone keeping it real! I’ve been a notary for 1.5 years now and was living in a rural but booming area. Business has been slow and the cost of doing it rather high. Moving to a metropolitan area a year later however has opened up new doors for me and the experience and network I’ve built helped me tremendously. Take away! It takes time, money, patience and luck to evtl making those six figures!
I want to sign up now March 26 because I need the bonuses
WBENC isn’t free min is $350 are there any other free areas to promote my business? I’m one of the LSA you mentioned. 😢
this has really discouraged me. i am already knee deep and is certified NNA as well as RON. ive worked really hard and made a lot of sacrifices to get these things accomplished and now im just destroyed. if you really dont believe none of us will make it then why tell us to sign up for a program? im confused. i am in chattanooga tn
You deserve to be congratulated for what you’ve accomplished. Nothing and no one is stopping you from pursuing your goals. That having been said, get out there and make your best effort. You will learn for yourself whether or not what I am saying in this video has any truth to it or not. There are so many false narratives about what a BRAND NEW NOTARY can accomplish in the loan signing space in 2024. My video is providing basic business principles that should be considered for BRAND NEW NOTARIES entering the loan signing industry in 2024. Many of the videos that you probably watched that encouraged you to get in the business were success stories from people who became notaries BEFORE 2024. And you could 100% prove me completely wrong!! So again, don’t allow anyone or anything keep you from pursuing your goals. Use this video to apply common sense business principles to your business. And when you say, “if you really don’t believe none of us will make it then why tell us to sign up for a program?” If you’ll rewatch the video, you’ll hear me say clearly, ‘if you are going to do this business at least do it in such a way that you are focusing on the customer who is going to pay you the most’ And that is where my program comes in. What you’ve probably been taught is to sign up for as many signing services as you can. What I show you in the video is that signing services are not paying NEW NOTARIES very much in 2024. So, I teach you how to avoid getting paid less if you are a NEW NOTARY entering the loan signing business in 2024. I wish you nothing but success!!
@@notarynerds thank you so much for responding so quickly! Spiritually im being led to do this so i was just taken aback. i have gone into this with open eyes, just a little terrified :) Namaste!
I am in Texas it was like $78 THANK YOU FOR ALL THIS INFO! ;)
I’m already a notary and was a banker for 10 years (just laid off due to branch closure). I was thinking this could be a good way to utilize both for the next chapter. My city is growing healthily. Wouldn’t this give me a leg up from starting from scratch? Thoughts are appreciated…
Absolutely. Your banking background gives you a HUGE advantage in the loan signing space. Specifically from a MARKETING perspective. You'd still need to polish your loan signing skills as bankers don't necessarily see Notes, HUD's, Consumer Disclosures (mortgage loan) etc. every day. Even as a brand new notary, you have the opportunity to lead your marketing with, "I'm a former banker of 10 years...." and Title Companies will train YOU on how to do loan signings for them. And that would be my recommendation to you...pursue DIRECT TO TITLE business. You'd be completely wasting your time signing up with signing services. Those who do pay, pay net 30, 45+ and pay embarrassing low rates. You will still need a SOLID MARKETING PLAN that highlights the fact that you are a former banker. If it were me, I'd do a video telling my story and send it to every Escrow Officer in my county. You have the unique ability based on your employment background to go up against the preferred notaries already in line at the Title Company. Keep me posted. And much success to you.
@@notarynerds Thank you! I really appreciate your insights and will investigate that route for sure.
This expense is every year or just for first year(initial setup). what is yearly expense subsequent years?
Annual expenses will vary on what type of entity you establish, how busy you are and how much you have to replace supplies. In Tn the Notary commission is good for 4 years. Training is one and done. You don’t need this every year. Insurance is recurring and there may be some local business registration fees; again this depends on the entity that you choose for your business. If you register at NNA you will have to renew every so often; may not be an annual renewal.
The state you are in plays factor I’m in Florida the annual business tax $135 I think I just paid NNA membership cheapest one annual is I think it just raised to $80 my friend in Philly has to pay 2or 3 taxes I believe. The competition is so bad there she just gave up she only got like 2 bookings since she started 2 yrs ago stay clear of thumbtack they charge for leads and you pay wether or not you get hired
When does the 5 day challenge start in June and July??
I'm going to make it self paced. So many people are unable to attend live. I'll let you know.
I’m signing up for
Also if a good company goes down after a data breach you will go down with it
Where can we access this document you are presenting on?
I’ll create a link and post it here soon
You can access it here: www.notarynerdsuniversity.com/offers/PhDwMpz4
i feel like i got cussed out then given a big hug..😂
🤣❤🤣❤❤❤❤❤
Not very accurate for the most part, trying to sell something.
General Notary Work is way better than Loan Signing and it's very lucrative if done correctly
I agree 100%. GNW can be lucrative if done correctly. Please let me know which part(s) you found to be inaccurate?
I make at least $3K a month as a Notary Signing Agent so I have no idea why you are telling people it's a waste of time.
@@KaraAllan Because it’s facts for those brand new notaries entering the business in 2024 as stated in the video. When did you start your business? My guess is that it wasn’t 2024.
@@notarynerds i’ve been a Notary Signing agent since 2013. And I’ve been actively working every year since then so people starting now can still make money maybe not at the astronomical levels it was during the pandemic, but they can still make a side hustle out of it. I think you’re doing a disservice I’m telling people that you could tell them your experience and leave it up to them to decide. I’m especially making a lot of money doing RON signings. The benefits outweigh the cost by far
You dont need to buy a printer if you dont own one go to the public library
If you're doing loan signings, please don't print documents at the library or other public spaces. The documents contain people's ssn and other personal info. Please don't do this.
You still need to account for your time to the library and back. You really think you can have a business and not buy a printer? 😮
@@TAXcellentFinancialSvcs yes I have printed many things while traveling at public libraries
@@itsmet559 my library has software that delets all information automatically from patrons, and no one sees the document s being printed other then the person who is printing them
Using a public library with customers information isn’t a good idea
My BIGGEST hickups are: Buying a Laser Printer + the fact that signings won't be back to back.
...so you'll be driving to an appointment, then back home, then to another one then back home.
I feel you logically CAN NOT schedule signings back to back, not even if you gave yourself 1 hour in between BECAUSE, any loan signing can go over. Period. Add in your drive time to the next appointment.
That nothing will be back to back like a full or part time job. and unfortunately, there's no point in getting an office space to make folks come to YOU to do signings so that you CAN fit more signings in a day like a job.
now, I live in Austin so Austin is smaller physically compared to Houston, Dallas or San Antonio. I can't imagine having to take signings in those major cities.
nope nope nope - that's why I live in Austin, LOL😁
Most companies are expected to send to the documents the day prior. The ones that don’t, I typically will print it at one of my title offices that I have built a relationship with.
The is mobile notary no need to travel
Well explained
SHE IS LYING!!! I MAKE 20K a month... She is stupid and got duped LOL
What was the waste of time?
She is Dumb and hoping you are too
How about ONLINE Notary? No gas / travel needed 😊
You need to be a notary for at least a year im pretty sure
@@gobchallenger9176 oh 😮
And it’s not accepted in every state. SC doesn’t allow it.
How much can you make though minus your expenses. That’s what’s stopping me. I had my RON certification since 2020.
But her notary course will allow you to earn the money she is telling you that you cant
100%. Because she is using her expertise as a real estate broker/owner to show you how to circumvent the traditional loan signing. And instead use your status as a public official sworn to do no harm to create new lanes for your business by solving problems for real estate investors and small business owners. @johnfriedhof3690 Don't hate the player...hate game.😘
@@notarynerds thanks for replying. Only a partial sentence was uploaded. The completed statement was ‘that you can’t using traditional methods that have been used in the past by notaries.
@@johnfriedhof3690 Anytime. Additionally, the complete sentence that was uploaded conveyed the point.
SHE PROBABLY BELIEVES THE EARTH IS FLAT!!! LOL!!!
Not at all.😊
Why are you selling your course if it is a waste of time?
@@joannadiabe6724 The 1st reason is: Because my course (for those insistent on entering the industry in 2024) teaches you how to actually make money with your commission OUTSIDE of offering loan signing agent services. The 2nd reason: As an entrepreneur I am wired to solve problems that I am both aware of and capable of solving.
ruclips.net/video/2WuIQhA9V0k/видео.htmlsi=GXPsKrZGKyYwMUg7
All These People Are Selling Courses Etc No One Is Making Money Like That On Notary Alone
They Are All Lying To You
19:35 YOUR NOT A BUSINESS PERSON!!!!
The Internal Revenue Service would disagree.
Agree, she didn't mention one thing that was a write-off on her taxes.
Not true
True.
I bet your a Virgo... lol good video
July 9
You apparently do not know how business works. All of the expenses you mention are tax write-offs including the mileage which in 2024 is .67 cents per mile. I hope you are not purchasing an inkjet printer and ink for it. This poses a security risk because inkject documents can be altered. You should have a laser printer and purchasing toner. Which is pricey but also a write-off.
And you apparently do not know who you are speaking to. I’d enjoy a conversation with you about business where we both bring our income tax returns for the last 12 years. This video is a simplified breakdown of why becoming a notary in 2024 is a horrible business move. This is not a video on tax deductible expenses and the benefits therein.
@@notarynerds we can play big bank take lil bank anytime broke b!$h. goofy ahh
I'll be unsubscribing now, thank you.
❤❤
Just curious, why are you unsubbing? Isit the clickbait? title says dont waste your time becoming a loan signing agent, then proceeds to tell u how to become a loan signing agent?
@@FleurRebelle😆😆😆 Exactly 💯
Those successful agents started at the bottom and look at them now. Your so discouraging,
This is some good advice. I’ve been doing this since 2020, and while I’m still making money, I hadn’t looked at the details you mentioned. I also have been wondering how to be more profitable and what else I can do. Great info, very realistic.
I feel bad for your husband
I pray that you are blessed in everything that you set out to accomplish.
I think it's great that you're breaking down the expenses that go with being a loan signing agent, but I think it's a little much to say that becoming a LSA is a complete waste of time. Anyone can be successful in any industry if they are willing to put in the effort. Again, as a new notary that's planning on becoming a LSA, I really appreciate the breakdown and putting time into making this video. I will take everything yoi say into consideration. Perhaps if you didn't say that this is a complete waste of time, you would get a better response.