How to Get Direct Loan Signing Business
Did you decide to become a notary because you heard someone screaming, “You can be a six-figure notary today!” I know many people chose to become a Notary and Loan Signing Agent because of that promise. If you became a Notary Loan Signing Agent in 2020 or early 2021, achieving that income goal was absolutely possible. Today, as it stands, achieving a six-figure income as a Notary is a bit harder to do. Actually, we are in a regular interest rate season, so loan signings have slowed down. There aren’t a million refinances happening, and home sales and purchases have slowed down a bit. I am not here today to discourage you from pursuing loan signings. Quite the opposite. Today, I want to advise you on how to get 100% of your money when DOING loan signings.
The rule of thumb was that when you got commissioned and then got trained and certified to be a Loan Signing Agent, your first task was to sign up for as many signing companies as possible. Signing companies get Title companies and Lending companies to use them as a resource to find Loan Signing Agents. In doing so, the $150-$300 Notary fee went to the signing company, and the Notary got a fraction of that total fee. It didn’t matter when you were new; it was a great way to learn and get lots of business. And some notaries started there two years ago and still work almost exclusively with signing companies. It can work for you, too. However for me, very early in my career, I started paying attention to the closing documents on the table and what the agreed-upon Notary fee was and saw that I was losing between 60-80% of the money. I wasn’t satisfied with that for long. That's when I started my journey to getting as much direct loan signing business as possible.
Today, I want to give you some tips on transitioning from signing companies to direct loan signing with Title and Escrow companies in your community.
Do Your Research
Every community is different, so your first step in getting direct business is researching. Get on Google and do some searches.
Search Title/Escrow Companies Near You
Search for non-fidelity companies. Title Companies like Chicago Title, Fidelity National Title, and Stuart Title. These companies require you to have at least two years of experience and be Fidelity Certified. You can only get Fidelity Certified with two years of experience and one of those years working with Bankserve. ( Bankserve is Fidelity's signing service for underqualified notaries.)
Title companies that aren’t with Fidelity are companies like:
Orange Coast Title
Old Republic Title ( Works through Snap Docs, so get signed up)
Placer Title
First American Title
3. Get on LinkedIn. Search for Escrow Agents and Escrow Assistants who work at your ideal Title Companies. Follow them, respond to their posts, share their articles, and be thoughtful and intentional. Eventually, you can ask to connect with them, and there starts your relationship building.
A great resource to build and create the LinkedIn profile of your dreams is this amazing book written by LinkedIn Master Sandra Long and Sign and Thrive Instructor and Notary Mentor Bill Soroka called “ Super Charge Your Notary Business with Linkedin.” It will change your profile and the response you get on LinkedIn overnight. Check it out here.
Learn How to Build Business Relationships
Getting connected directly to Title and Escrow companies isn’t a transactional relationship. It will require that you invest time and energy into building authentic relationships with the Escrow Agents.
Here are some tips on building authentic business relationships, and, of course, there's a more concise list of strategies for building relationships in business:
1. Networking: Meet potential partners, clients, and colleagues at industry events.
2. Authenticity: Be genuine, honest, and transparent in your interactions.
3. Effective Communication: Listen actively and communicate clearly and promptly.
4. Provide Value: Offer help, expertise, or assistance without expecting immediate returns.
5. Follow-Up: Send personalized follow-up messages after meetings to show your interest.
6. Mutual Benefit: Understand and fulfill each other's needs for a balanced relationship.
7. Build Rapport: Find common interests beyond business to strengthen connections.
8. Regular Interaction: Stay in touch periodically to maintain the relationship.
9. Social Media Engagement: Connect and engage on professional platforms like LinkedIn.
10. Face-to-face meetings: Whenever possible, meet in person to solidify connections.
Remember, the key is to be authentic, respectful, and patient as you nurture these relationships over time.
I have two awesome resources to help you with this. Bill Soroka, best-selling author and Notary coach, has a free course called “Morning Mastery.” This course outlines a daily process to help you get and stay connected and grow your networks. You can check it out here.
The second resource is from Jennifer Neitzel of Marketing 4 Notaries. She teaches Notaries how to market their business to title companies and beyond. Her training course is only $20 a month. You can check that out here.
Show Up & Introduce Yourself
Nothing beats taking that leap and walking into the Escrow office to introduce yourself when all is said and done. Remember, every single Escrow and Title office you approach already has their go-to Notaries. They aren’t looking for new Notaries. That's OK. Your sales pitch isn’t to replace their Notaries; it is to be the backup.
Example Convo:
Notary: “ Hi, my name is Jennifer Cooper, and I am a local Notary Signing Agent. I just wanted to come in and introduce myself and find out how I can help support your business?”
Escrow: “Hi, thanks for coming in, but we already have Notaries that we really love working with.”
Notary: “That's amazing. I love EscrowAgents that show loyalty to their Notaries. And I understand. I would never want to challenge that. But if your Notaries cannot handle a signing due to schedule, illness, or vacation, I would love the opportunity to provide backup for them and you. Can I leave you my card?”
Leave your card, but also take as many cards as you can. That office has at least two Escrow Agents and maybe more. Their contact information lets you stay in touch and develop those relationships.
This blog post could continue, but I will bring it to a close here. The whole idea of going direct isn’t out of reach, even if you have only done a few loan signings. How you present yourself, invest your time and energy into relationship building, and continue to get educated and trained will open doors for you and allow you to transition from signing companies to direct business.
Being a Notary and Loan Signing Agent is being a small business. All of the tasks that any other business owner has, you have as well. Treating your company like a company is vital to your success. So take the steps and the time to build your business one relationship at a time.
Of course, if you have questions or are interested in more training and information, please don’t hesitate to reach out.
Until next time- build those relationships and grow your business today!
Jennifer K. Cooper, Notary Public.
