I'm constantly asked by people looking to go full time, “Mark, can you really make $100,000 a year as a notary loan signing agent? And if so, how is it possible?”
First and foremost. Yes, yes, and yes!! 100%.
So let's break it down.
First, let’s talk about how you get there mathematically. If we use the industry average of $150 per signing. $100,000 divided by $150 signing fee equals 667 signings you need to accomplish in one calendar year. Or more specifically, you need to do about 13 signings a week.
Yes, to make six figures as a signing agent you need to do only 13 signings a week.
Since a lot of signings occur over the weekend (because that is when borrowers are usually available) you essentially need to do two signings a day six days a week with one of those days you do three.
Yes. Basically two signings a day, six days a week. That's it.
As you can see so far, it isn't really hard being a six-figure signing agent!
To break it down even further, let's start with a drive time of an hour to get to the appointment, an hour drive time back from the appointment, and an hour spent at the appointment. That’s three hours per signing front to end or a total of six hours of work time per day six days a week to be a six-figure signing agent.
You cannot possibly tell me there is a better industry to be in.
You're probably asking, "what is the catch?" While it's not a catch per se, you will need to be working directly with escrow offices, mortgages offices, title offices, and real estate agents.
Technically you don't have to, but a signing agent that relies on signing services for their business will experience a much tougher road to get six figures.
You split the signing fee with the signing service, so you don't get take home the full $150 per signing and secondly, you will always need to print your loan docs - essentially lowering what you make per file by whatever you pay in printing.
Working directly with mortgage professionals will allow you to not only keep the whole signing fee, which is on average $150, they will print the loan documents so there are no printing costs eating into your signing fee!
If are you willing to put in the work, go out to meet escrow officers, mortgage officers, and real estate agents, you can certainly become a figure signing agent.
You're probably wondering, "Okay Mark, I'm ready to make the commitment to go out, network, and meet mortgage professionals. How many mortgage professionals do I actually need to have as clients in order to obtain two signings every day?"
Great question. First off, if you haven't watched or read my blog on why escrow officers are the best source of signings for signing agents, go do so now.
So now that you know you need to focus your time on escrow officers, you will need to have about three escrow officers as clients who rely on you to be their go-to notary. If you obtain three clients who close 40 files a month, that is 120 signings per month they close collectively.
Now all of those won't be local signings but it is safe to assume half of those 120 are. That is 60 files a month or about 15 a week that you can feasibly do. Some will be at the same time so you most likely won't be able to do all of them, but you should be able to 12-13 of them a week and that's what you need to be a six-figure signing agent.
As you can see you don't need 5 escrow offices, 4 mortgages brokers, and 3 real estate agent to be six-figure signing agent. When you break it down, being a six-figure signing agent is very doable.
Naturally, the next question is, "How hard is it to obtain three escrow officers as clients?"
First off, every escrow officer needs a reliable and accurate go-to loan signing agent.
Understand that almost every escrow office employs 3 or 4 escrow officers. Google escrow offices in your town, I guarantee there are more than you realize. Then multiply the escrow offices by 3 or 4 and that is about how many escrow officers that live near you.
One escrow office is more than enough to get you 13 signings a week or one escrow officer from three local escrow offices. The picture I am hoping to paint is that you don't need 10 different escrow officers or offices to be a six-figure signing agent.
So in conclusion, you need to do 667 signings a year or 13 signings a week and you only need 3 escrow officers feeding you their loan closings and you are well on your way to making six figures working less than 40 hours a week.
What other profession in America can make you this kind of money working less hours?
If you would love learn the easiest way to get to six figures and you don't want to bang your head against the wall trying marketing techniques that don’t work, take my Loan Signing System course.
I have already taught thousands of students. My system works, I guarantee it. If you are ready to become a six-figure signing agent, click on the link below to take my loan signing system.
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.