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I stumbled upon an excellent resource for notaries. Finally, another notary blog! Geoff provides some excellent tips for signing agents. I’d encourage anyone who has the time to look through all of his blog posts. You’re sure to find plenty of helpful information.
It’ll be interesting to see if the business concept works. The biggest problem I see is finding clients who are willing to pay the $175 fee. While it’s not outrageous–it is on the high end.
Obviously, the hope is that notaries can get the individual title and escrow companies–who do less than 100 closings a month–using the system. These clients are far more interested in getting the job done right than saving a few bucks. If there are enough of them out there, this concept has loads of potential.
It isn’t very likely that you’re going to land a “large” account through this method. Mainly because these companies hire executives who’s sole responsibility is to crunch the numbers and pinch pennies. They will find a cheaper service–or they’ll start their own.
I don’t know how many loans are handled by companies who do 100+ closings per month but I’m sure it’s a significant portion of the industry. Likewise, I’m sure a significant portion of the industry is handled by the smaller companies.
So what am I trying to say? I think the concept has potential and it’s worth a shot. But if I were Geoff, I’d have some other irons in the fire just in case…
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