Did you know you could make $10,000 per month as a notary? Many people apply to be a notary so they can help their friends and family sign but it can be a surprisingly lucrative career and side hustle if you focus on real estate closings.
Today I interviewed Amanda, a 25-year old who started making $10,000 per month as a notary loan signing agent in less than 5 months! She shares all of her best tips and tricks on how you can get started as a loan signing agent!
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Why did you decide to go into this business?
My name is Amanda, I’m 25 (26 in August), and a human being. I know, identifying as “human being” might give off cringe-linkedin-humblebrag- vibes. I say that because I never want to box myself in as one identity. That’s also kind of what led me to this business. I felt like I could do this job and it wouldn’t become my whole identity. I think that was something I feared during post grad.
A little background on me; I became a notary in 2016. At that point I wanted to become a bartender during winter/summer break but my mom insisted on becoming a notary. So I did, and I didn’t use my commission for a while. I had just transferred to UCLA, my dream school! All of my focus was on school so I left being a notary on the back burner. Upon graduating in 2018, I had a few job offers. However none of them felt right. Then I thought I finally found my dream job in influencer marketing. I hated it. I felt like there was no work-life balance. The culture felt very “mean girls”. I woke up dreading each day. That’s when I realized that I couldn’t sit under fluorescent lights for 8 hours a day. I need to be out and about, meeting people, creating, and helping others.
Thankfully the pandemic gave me that opportunity. I honed in on loan signing, made a business out of it, and now I’m at a place where I’m financially comfortable. All compartments of my life are flourishing. I truly want this life for everyone.
What exactly is a loan signing agent/mobile notary? Are they the same thing? Can any notary become a loan signing agent?
A loan signing agent is a notary that specializes in notarizing/signing loan documents.
Let’s say somebody is buying a house, the borrower has gone through the whole process of applying for a loan. As a final step they need to sign all of the documents to get their house. That’s where I come in as a loan signing agent to conduct the signing, notarize deeds and state documents.
In general, a notary is someone that is commissioned by the state to acknowledge someone’s identity. Basically, you verify someone’s identity and witness them sign.
Loan signing agent/mobile notary are technically the same thing. We’re notaries that travel to notarize docs. That’s why many people in the mortgage/real estate industry call us traveling notary or mobile notary. However, a mobile notary can also be a regular notary that notarizes general documents (child support, insurance documents, travel documents, etc.)
Yes, any notary can become a loan signing agent!
Can you give a run down of the steps to become a loan signing agent?
First step, become a notary. The best thing to do would be to visit the NNA website. This easily breaks down your state’s notary laws. Then they offer a package deal (course, exam, fingerprints, other things you don’t need). Also, your state’s Secretary of State website will disclose this information. From there you can hunt down courses or whatever else your state requires for a significantly cheaper price than the NNA.
After you receive your notary commission, then you’re ready to start studying to be a loan signing agent. Believe it or not there’s no law that requires you to take a loan signing course like your notary commission. However, this is extremely important! You need to study these documents because there’s so much money, homes, and jobs at stake if you make an error. Your knowledge on documents is the most important thing along with knowing your states notarial laws.
I recommend finding free document training on YouTube if you’re being cost effective. If you need more studying or have any questions I offer mentorship. You can book a call with me here.
The money that you invest at the beginning is so worth it! I made my investment (courses, exam, insurance, printer, office supplies) back in less than a month.
Congratulations on making $10k/mo as a loan signing agent! That’s amazing! Can you share how long it took you to get to this point?
Thank you so much!! n_n
Technically it took me 5 months, but I was shy of $10k for the first two months of 2021. I hit around $9.5k the third and fourth month and I was so determined to reach $10k!
My best strategy is to be overconfident about the documents you’re signing and going over with clients. You legally can’t advise which makes your job easier, but you should still summarize the document for the borrowers. Once you’re overconfident, stop using signing services to get your signings and reach out to direct clients. Google escrow, title, and loan officers in your area. Cold call them, show up to your office. Do whatever you can to get their business.
How much do you typically get paid per closing?
From a direct client, on average $250. If they need me to drive farther out I can negotiate a higher fee.
From signing services, $100. Signing services have been low balling signing agents so much lately. I believe it’s because new signing agents come in and take whatever fee they get. My biggest advice is to never take a signing below $100. Think about the supplies you paid for, car, gas, mileage, toner, paper, pens, your knowledge, and most importantly your time. The $100 can vary depending on where you live. In that case, I suggest you adjust accordingly.
How did you find which signing agencies to work with?
I joined as many Facebook groups as possible. From there I searched “signing services” and people were listing their favorite ones to work with.
What is your day to day like?
It’s different every day! Just what I like 🙂 I chose a job like this because I hated the monotonous lifestyle a regular job provided.
My hours of work vary. Some days I’ll only work 1 hour. Some days, mainly Fridays, it can be 6-8 hours.
My signings can come as late as “ASAP”. These signings usually come from signing services because they’re trying to get any notary they can get. For my direct clients most of them will tell me the day of. Sometimes they’ll also tell me a day or two before.
How steady is the workflow?
I’ve come to learn how the mortgage industry flows, and it’s simply based on that. The beginning of the month is busy because they’re trying to close on loans from the month previous. Then the end of the month is super busy because that’s when they need to close these deals.
Where I’m at right now, I’d say my work flow is steady.
What is something you wish you did differently when you started?
I love this question. I wish I did a few more signings with signing services. Although I knew the documents, I would make super small mistakes. You only get better with practice. Some of those ended my work with direct clients. I only lost 2 at first, but you win some, you lose some.
Triple check those docs after you sign!
Where is the best place to find you?
You can find me on nearly every social platform.
If you’re interested in mentorship please book a call with me. I’d be happy to help you out! 🙂