I'm frequently asked, "how much do part-time loan signing agents and full-time signing agents make on a monthly basis?"
We all know that becoming a loan signing agent is one of the best side-hustles. Start part-time with no experience, work your own hours, and make great money! But how much can you make per month as a part-time loan signing agent? And if you wanted to go full-time, what is your income potential? This blog will answer those questions for you.
The income numbers vary significantly depending on how you get your loan signing appointments. I have another blog that explains the difference but loan signing agents that primarily get loan signings fed to them automatically through loan signing services are paid between $75 and $125 per appointment.
While signing agents that primarily get loan signing appointments directly from escrow offices get paid between $125 and $200 per appointment.
Read my blog on the differences between the two ways of getting business.
But to understand the income potential of being a loan signing agent, let’s assume that the average fee to be a loan signing agent is $100 if you get business from loan signing services and $150 if you get business directly from escrow offices.
In my opinion, a part-time signing agent can do five signings a week working between 10 and 15 hours a week including the appointment and driving time. At $100 a file, that is $500 a week or roughly $2200 a month.
Now keep in mind, we are using the lower end of the fee scale in this example. If you are getting direct business from escrow offices, you would take home $50 more per appointment, or approximately an extra $1,000 more a month. So a signing agent that gets business directly from escrow offices would make about $3250 dollars a month working ten to fifteen hours a week.
Now, Let's talk about the income of a full-time notary signing agent. We’ll continue to use the $100 fee per file in our calculation. In my opinion, a full-time notary signing agent does no less than fifteen signings per week working roughly 40 to 45 hours a week including appointment and drive time.
Completing fifteen signings a week at $100 per file is roughly $1500 a week or roughly $6500 a month or $78,000 a year.
If you a signing agent that gets direct business, you would make an additional $50 per file which would add $39,000 more a year for the exact same work or more specifically you would $117,000 a year.
What other business in the country where you do not need need a college degree can you make six figures working 40 hours a week? Not 50 hours a week. Not 60 hours a week. But 40 hours a week.
On top of that, being a loan signing agent it is 1099 money, not W-2 where 30% to 40% of your paycheck can go towards taxes and other employee related costs. As a loan signing agent, you operate as an independent contractor and can take advantage of the many beneficial self-employment tax laws. Meaning you can potentially take home more income a year versus a W-2 employee who makes the same amount of money.
As you can see, being a notary signing agent is the best kept secret in the real estate industry.
Make great money, start part time, have the potential to grow your income to a six-figure business, all without requiring a college degree.
In conclusion a part-time notary making $100 a file makes roughly $2,200 a month and a full-time signing agent that makes $100 dollars a file makes $6,500 a month. And if you learn how to get business directly from escrow officers, mortgage officers, and real estate agents you can give yourself a 50% raise.
Now you can see the importance of learning how to get escrow business directly. You can go from making $6500 to over $9700 just by learning to get business from a different source.
If you want to learn how you can become notary signing agent without any experience, I can teach you the exact steps to making the part time or full time income you have always wanted to make.
Click on this link to get started today!
About the Author
Mark Wills is the course instructor of the top rated Loan Signing System agent training course. He has been an active professional loan signing agent for nearly 15 years and owns a loan signing service that does thousands of signings a year.