Sign North Carolina Profit Sharing Agreement Template Safe

Document type sign profit sharing agreement template north carolina safe

hi and today in my video i am going to be talking about something controversial i'm going to be talking about something that has caused a lot of uproar um in the long signing community um across multiple social media platforms i'm going to be talking about something that can be perceived as price fixing if i'm not careful but i can say this now this video is not intended to be in no shape or form price fixing that is illegal this is just a guide and to help newer long signing agents so if you're interested in getting to know more about pricing within the long signing world and my take on it stay tuned hi and welcome back to my channel riri jay my name is maria and i am the owner of a to z signing agency here in charlotte north carolina and today we're going to really dive a little deep into pricing which has been a touchy subject for many signing agents all right so i have my tablet in hand so if you see me looking down it's because i've taken some notes so that i don't get off on a tangent or just lose my train of thought so um yeah i want to take a moment to thank everyone who has subscribed to my channel it's greatly appreciated and i want to thank those of you who have commented and complimented me on my videos my whole goal when starting this these videos was to help new agents get a better understanding through my perspective and my experience um and just you know get you help you get more information on whether you want to even become a loan signing agent or not so thank you again for everything continue to share my videos and continue to subscribe to my channel it's greatly appreciated all right so you know it's no secret that you know over the past years um that a lot of agents are noticing that fees are slowly declining when it comes to what signing agencies are offering and a lot of agents are finding themselves having to counter on counter offer more often because you know we assigning agents know what we're worth and we know that our time is valuable and not only that how we invest in our business through paper and purchasing printer and toner and gas money and car expenses and maintenance that can all add up so when it comes to doing business you know even though the signing agency agencies are a business in itself and they are the minimum the middle man however we are also we also have our business as well as signing agents um so yeah i completely understand how you know there can be a tug of war when it comes to splitting the fees that the signing agents are getting from these mortgage companies agencies so most signing agencies are created by regular loan signing agents who had a vision for themselves to scale their business to be more than just a long signing agent they created these agencies and they go out and they find contracts with larger mortgage companies and lender companies they get under contract with these companies for us for these companies to send them bulk signings and when they get that the signing agency uses their platform or their website um with you know their list of signing agents that they have and they disperse those um loan signings so here's the thing when it comes to that these loan signing agencies are you know being paid by the mortgage companies sometimes it's one hundred and fifty dollars sometimes it's two hundred to two hundred and fifty dollars for signing but you gotta keep in mind those agencies have to make money and turn a profit as well and i'm not in no way saying that hey that's why they should charge low on the fees because again we if it wasn't for the agents the agencies wouldn't be able to make a profit so there is a fine line with that and today i'm going to talk more how we can get ourselves out of that rut of the signing agency world and learn how to elevate ourselves more but first we're going to talk more about pricing and how to look at that a little bit about the back and forth that you know i've been seeing online about you know what an agent should accept as the the right amount for signing and really the answer is well there isn't an answer there really isn't a set in stone rate for loan signings there isn't all right so if you're asking why are the rates going down you know that's a great question as i'm still pretty new to the lone signing world myself but there are some things that come up in these discussions online that could be the cost um i've heard things like oversaturation that there's too many agents entering in the business and you know while i can see how that can be a cause for concern it really isn't something that i feel like the agents signing agents should really worry about i feel like it's yeah it's oversaturated but i was a real estate agent and trust me the real estate agent world is super saturated but it's all about how well you do business and that's just kind of similar uh loan signing similar it's about building trust with um you know escrow officers and mortgage lenders that is how you're going to really get your foot in the door like that first and you're constantly not available and you just are very difficult to work with then you're going to find yourself in a situation where you feel like it's oversaturated because there's new agents coming out that's really taking the game seriously and you know that that's that can be a huge problem to someone who's not really um coming into this business on a serious note you know so yeah i can see how that can be an issue for those who are not really taking the taking this business seriously um also i've heard a reason because we're newbies and we're trying to just take any signings we want and you know that is kind of true but really it's not um i'm sure a new agent is not going to take a signing that is 20 and two hours away i feel like those 75 um dollar signings that's all situational based it's based on how far away you are from the signer it's also based on how many pages the document has and how many nota notarizations is needed or required for that signing you could get something like an application that needs to be notarized nine times out of ten those are 75 dollars what are you going to do counter offer that so it's just all situational based and um you know that's all i can say about that [Music] all right so i want to really get into um some a market disrupter that i am seeing uh start to become a demand and no one really brings this up when we're arguing about how low the fees are getting but have you ever considered one of the reasons that the fees are getting lower because of e-notary and it's becoming pretty popular um again as a business owner you want to make sure that you stay ahead of the curve you want to make sure that you're constantly studying the market and that you're constantly looking beyond where you are so that you can anticipate change i can truly see e notary becoming the new thing it's been out for a while and not too many agents are are hopping on that um hopping on that ship for some reason but i feel like this if you're an educated signing agent you definitely want to consider doing e notary i do follow um a great woman online um on youtube and she has a great video about how to become an e notary or online signing agent with zero monthly fees because there's a whole process that goes into becoming an e-notary um her name is kendra lewis and she um her youtube page is signing agent basics um she has a wealth of great videos and great content about the world of being a signing agent and she's been in the business for years i want to say 14 years but i could be mistaken um i'll tag her information below in the description box but she has inspired me her energy is always great she's a bright individual and i just like those type of signing agents people who are very tech savvy very forward thinking has drive that just uh should i say anymore these signings they i think each signing is about 40 an hour to conduct them so they don't cost as much as a traditional loan signing because of course there's no paper printing involved there's no gas money involved there's no car maintenance there's no ink and toner involved not even a stamp you have an electronics a notary stamp so that's the way for the future guys and if you haven't already jumped on board you definitely want to look more into that so the pay expectations um is something that i feel a lot of agents kind of miss the ball on and when they jump into the business they quickly realized that a lot of signing agencies do not pay you daily weekly or bi-weekly so now you're at a loss so i want to definitely go over that 90 percent of signing agencies pay a net 30 net 60 and sometimes beyond um so you got to keep that in mind when you're doing service when you're providing the service you may not see a check for another 30 days after closing you want to make sure that you have money saved up you have a safety net for at least three to four maybe even six months because even when you first begin in the signing business you might not get a request for some time and then also it's going to take you a large amount of time to sign up for a hundred plus signing agents i mean agencies so you want to make sure that you give yourself that time and financially prepare for the learning curve and also the curve of when those checks come in because it'll take about 30 good days before you see your first check after you perform the services um so yeah net third whenever you see net 30 or net 60 that that just simply means that the loan company will not pay you until 30 days that's all that means now there are some agencies um some companies such as zome and bankserv that actually um pay you on either weekly or bi-weekly basis but it's not too many more that i know of that can pay quickly if you know any signing agencies that pay on a weekly daily or bi-weekly basis put them down below let's help your fellow um signing agents out all right so now what you all came here for i'm sure is the pricing guide again this is strictly as a guide and a reference for new signing agents to kind of go by to gauge where you are on the pay scale when it comes to a signing agency giving you a signing had some signing agencies request or request that i provide what i charge and i was like i don't know what pay just pay me what you think i should get you know so i think being educated on an average and so that way you can gauge what it is that you want to accept and if it makes sense for you and your business okay so i'm going to go ahead and put on the screen the average fees for signing services so here we go all right so as you can see i have the general loan signing fee so i can be any kind of loan we're looking at between 90 and 100 we also have the full purchase loan which is between 90 and 100 and this can vary because you might get a va loan and most of the agencies recognize and will realize that okay wow this is a va loan there's way more documents to print so they may give you 120 130. so just you know keep an eye out for that you have your reverse mortgage 90 to 100 um for extra e-docs i do not charge anything um and then you may have a cash deal or a loan application those are normally 50 to 75 dollars you have your overnight documents and what this means is sometimes a signing agency may request or ask that you send the documents overnight now this is a touchy topic for me because i don't like doing overnight documents because sometimes those overnight documents may not make it to the lender overnight it may be a day after i've sent them and that can put me in the buying with us with the signing company so i kind of steer away from overnight documents but if i have no choice and they're kind of pushing it then what i'll go ahead and do is um tack on an additional 35 dollars for a fee and normally when they ask you for overnight if you do overnight they'll also ask for how the fee that you charge and i charge 35 [Music] if there's multiple signers over two so if i get more than two signers i'm going to tack on an additional 20 and that's through counter offering the same thing when it comes to being outside of my 10 mile radius if it's something that's outside of my 10 mile radius i also counter offer um for what for 20 additional dollars for that community now um sometimes i'm totally not busy and i don't have anything going on and i get one and i'm like all right it's not that far it's about 30 minutes out i have no problem with doing that if i'm okay if i feel like doing it i'll accept it but for the most part i'll counter offer all right so that is the average fees for signing services okay signing services next we're going to go ahead and look over our direct business fees all right i'm going to go ahead and put the direct business fees on the screen now all right so for direct business i'm going to say this in my experience direct business when i work for an escrow office or um a lender they already have their fees they already have the fees set and normally it's between 150 and 250 dollars and that's the beauty of going direct you get everything you get you get your whole entire fee versus splitting it with a signing service so i definitely recommend if you can break through that realm into direct business please do it you're gonna get your entire fee and nine times out of ten you're going to be printing um the documents from the actual lending office um where you are or if you have to print them out you know you're getting paid the full fee so you can't beat that with a stick if you ask me so of course your loan signing fee 150 to 250 full purchase 150 to 250 reverse mortgage the same again i never charge anything for extra e-docs because it's just electronic and then you have your loan application which is a couple pages sometimes 75 dollars and then your cash deals which requires a lot less paper okay a lot less notarizations for 100 all right so now i want to discuss counter offers so again it's a very touchy subject and i understand that i am open to any comments that you want to leave in regards to this how you might do it in your business or even some some suggestions for your fellow loan signing agents but for me when it comes to counteroffer it is definitely situational based i base this off situation of course depending on how large the loan packet is if the loan packet is 150 pages to 200 pages plus you know and they're they're trying to give me a trying to send me somewhere an hour away for 75 is getting a counteroffer okay um and then also you know if they have more than once more than two signings and it's five people signing they're getting the counter offer and i will explain why so when i go back in our counter offer i send them a little note saying hey this is outside of my radius it's a little too far i charge an additional 20 for um to provide a service and if they if they don't have anyone else that can do that um in that area they they'll probably more than likely accept my counteroffer which they have before for some signing agents so agencies so it's no problem you know keep it moving so that's how i handle my counteroffers i never come in with an entitled mindset or i feel like i'm worth this mindset i feel like if it's comfortable for me and it's something that's doable for me and it's not going to take a huge cut out of my bottom line for me going 10 minutes up the road for 75 dollars i'm gonna do it but again comment down below if you have um other feelings or other thoughts on this all right so let's face it we're coming into a time where technology is starting to um peak his head through the traditional way of doing loan signing i welcome the you know the online notarization the online notary um electronic techn tech savvy type way of doing notarizations i definitely welcome that because again it's very efficient you don't require a car gas money printing out documents or anything so you know that's just the way it is there's always gonna be two types of business owners okay you're gonna have that one business owner who's to sit back and complain and blame everyone else around them and you're going to have that more flexible business owner who's tech savvy who's always learning about the market always learning about what the new trends are always want to be in the know of what's new and it's always networking a d those are going to be the business owners that's going to be successful and push through and be able to position their business in such a way where they're going to be successful to sit around and try to make people charge signing agents one set thing that's called price fixing and you don't want to be on the opposite end of that that is illegal so i'm going to leave you with this use signing agencies as a learning field you should never get comfortable the goal is to become a signing agency the goal is to create or lock in contracts with large mortgage companies and lenders and you be the middleman that's where the money is the goal is to become direct work with more direct lenders mortgage companies escrow officers real estate agents that should be your goal so i hope you guys enjoyed this video today stay tuned for my next video which is going to be an overview of the mark wheels course i did take the six figure course and i thank you guys so much for joining me um on this journey and i look forward to just growing with you if you have any questions leave them down below um subscribe and share alright so thank you so much guys and be blessed bye