By Mark Wills - Course Instructor of Loan Signing System, Forbes Real Estate Council Member, and Best Selling Author
I'm frequently asked, "how much do part-time loan signing agents and full-time notary loan signing agents make on a monthly basis?"
The Loan Signing Agent "Side-Hustle"
We all know that becoming a loan signing agent is one of the best part-time income opportunities.
Being a loan signing agent as your "side hustle" allows you to start part-time with no experience, work your own hours, and make great money!
In fact, Joshua Dorkin, the CEO of Bigger Pockets (the most downloaded real estate podcast in America) said "this is one of the better side hustles" he has seen in the real estate industry.
But how much money 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.
Signing Agents Make $75 to $200 per Appointment
The monthly potential income for a notary loan signing agent varies significantly depending on how you get your loan signing appointments. To learn more about this, check out another blog that explains the difference, but to summarize - loan signing agents who typically get loan signing appointments offered to them automatically through loan signing services are paid between $75 and $125 per signing job.
Signing agents who primarily get loan signing appointments directly from escrow offices earn much more - between $125 and $200 per signing job.
Read my blog on the differences between the two ways of getting business.
To understand the income potential of being a loan signing agent, let’s assume that the average fee you would get if you received assignments from signing services is $100 per signing and $150 per signing if you get business directly from escrow offices.
Earn Hundreds or Thousands of Extra Income Part-Time
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.
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.
Six Figure Income Potential
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 can do 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 are 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. More specifically, if you completed 15 signing jobs per week at $150 per assignment, you would make $117,000 a year.
Notary Loan Signing Agent Income: Simple Math
Big Income Potential, No College Degree Required
To put the potential notary loan signing agent income into perspective, the median per capita income according the the US Census is a little over $37,000!
Signing agents have the potential to surpass that income doing a handful of signings each week!
Additionally, the earning potential for signing agents could be a six-figure income!
What other business in the country can you have the potential to make six-figures working 40 hours a week WITHOUT a college degree? Not 50 hours a week. Not 60 hours a week. But 40 hours a week.
As a notary loan signing agent, you operate as a 1099 - 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 where 30% to 40% of your paycheck can go towards taxes and other employee related costs.
The Best-Kept Secret in Real Estate
As you can see, being a notary loan signing agent is the best kept secret in the real estate industry: You can make great money, start part-time, have the potential to grow your income to a six-figure business, and do it all without needing 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 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 start building your income as a notary signing agent, I can teach you the exact steps to making part-time or full-time income as a successful notary public loan signing agent.
Click the link below to learn more about the signing agent training that has helped thousands of people from coast to coast.
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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 20 years and owns a loan signing service that does thousands of signings a year.