By Mark Wills - Course Instructor of the Loan Signing System, Forbes Real Estate Council Member, and Best-Selling Author
I'm constantly asked, “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 that you would need to accomplish in one calendar year. More specifically, you'd need to do about 13 signings a week.
Yes, you read that right.
To make six figures as a notary public loan signing agent, you only need to do 13 loan signings a week.
Since many loan signing appointments occur over the weekend (because that's when borrows are typically available), your schedule would look like 2 signings, 6 days a week, and on 1 of those days you do 3.
Yes. Essentially 2 signings a day, 6 days a week. That's it.
In this way, being a six figure signing agent truly isn't hard!
Here are some more factors that will paint an even clearer picture...
For this example, let's say you have a drive time of 1 hour to get to the appointment, 1 hour back from the appointment, and 1 hour at the appointment itself. That's 3 hours per loan signing from front to end — and in this case, a total of 6 hours of work time per day, 6 days a week, in order to be a six figure loan signing agent.
So 'what's the catch?' you may be wondering? While it's not exactly a catch, understand that in order for these numbers to work for you, you will need to be getting your loan signing business directly from escrow officers, mortgage officers, title officers, and real estate agents.
Technically you don't have to, but a loan signing agent who relies on signing services for their business will experience a much tougher road to reach six figures in annual income.
This is because when you get business from a signing service, you don't get to take home the full $150 loan signing appointment fee. Additionally, you will always need to print the loan documents yourself — ultimately lowering whatever fee you make per appointment by the cost you pay in printing (meaning, ink and paper).
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 for you so there are no outside printing costs eating into your signing fee!
These are super nice perks when you sit down to balance the books at the end of the month.
So if you're willing to put in the work to go out and meet escrow officers, mortgage officers, and real estate agents, you can certainly become a six figure notary loan signing agent.
How Many Mortgage Professional Clients Do You Really Need?
That's a great question.
But before I answer it, be sure you've watched or read my blog post on why escrow officers are the best source of business for notary loan signing agents. If you haven't, go do that now!
So, exactly how many mortgage professional clients do you need in order to obtain 2 loan signing appointments per day on a daily basis?
Now that you know you need to focus your time on escrow officers, you will need to have about 3 of them as consistent clients who rely on you to be their go-to notary loan signing agent. If you lock down 3 escrow officer clients who close 40 files a month, that means there are approximately 120 signings per month they will provide collectively.
Not all of those files will be local loan signings but it is safe to assume that at least half will be. That leaves 60 loan signing appointments 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 catch every single one, but you should be able to snag 12-13 of them a week.
And that is precisely the amount you need to be a six figure signing agent.
Notary loan signing agents often fall into the trap of thinking they need 5 escrow offices, 4 mortgage brokers, and 3 real estate agents to achieve this goal and that simply isn't true. The reality is much simpler.
Naturally, the next question becomes, "How hard is it to get 3 escrow officers as clients?"
Before I answer that question though, it is critical that you know...
Every Escrow Officer Needs a Reliable and Accurate Go-To Notary Loan Signing Agent
Understand that almost every escrow office employs 3 or 4 escrow officers. If you Google escrow offices in your town, I can all but guarantee you'll find more than you guessed were there. Then multiply the number of escrow offices by 3 or 4 and that will give you an idea of how many escrow officers live near you right now.
1 escrow office is more than enough to get you 13 signings a week. Or, you can hit that same number with 1 escrow officer from 3 local escrow offices. See how many options you have? The picture I am hoping to paint is that you don't need 10 different escrow officers or offices in order to make six figures as a notary loan signing agent.
So let's recap.
To be a six figure-earning notary loan signing agent, you need to do 667 signings a year — or 13 signings a week — and you only need 3 escrow officers feeding you their loan signing appointments to be well on your way to making six figures a year, working less than 40 hours a week.
There aren't many professions in the United States today that can earn you the same amount of money while working fewer hours.
This is but one of the many reasons why I believe becoming a notary public loan signing agent is the best-kept secret in the real estate industry.
If you'd love to learn the easiest way to get to six figures without banging your head against the wall trying marketing techniques that simply don't work, take my five star-rated Loan Signing System online training course for notary loan signing agents.
My name is Mark, I've already taught thousands of students across the nation how to do the same, and I'm looking forward to teaching you how to be a six figure notary loan signing agent!
Click on the link below to learn more.
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.