Why Getting Loan Signings from Escrow Officers is the Pinnacle of Notary Signing Agent Business

There are numerous ways to get loan signings as a notary signing agent, whether that be through signing services, escrow offices, title offices, mortgage officers, or real estate agents. But of all of these, the best source to get loan signings for notary public loan signing agents is from escrow officers. And there are numerous reasons why this is true. First and foremost, when you get business directly from a mortgage professional, let alone an escrow officer, you get to keep the whole entire signing fee, no splitting the fee with the signing service. So Instead of making 75 to $100 per signing, you're now making 125 to $200 more money for the same amount of work. But the real reason escrow officers are the best source of loan signings is because they have the most signings to offer. Notary loan signing agent the biggest mistake I see beginning signing agents make when they decide they're going to get direct business is by focusing their time on mortgage officers. And real estate agents understand the best mortgage officer closes about 10 loans a month. If they make an average of $2,000 of commission per loan, then that mortgage Officer does about $20,000 per month. It's obvious why in this case, they're considered a great mortgage officer. However, the average loan officer only closes about two to three loans a month, making a comfortable four to six thousand dollars. The point I'm trying to make is even the best loan officer can only offer you about 10 signings a month or two to three signings a week. And the average loan officer can only offer you three signings a month. As a signing agent, neither one of these numbers should really impress you. Now, let's talk about real estate agents, as it's even worse for them, the best real estate agent out there maybe closes five homes a month. Commissions vary by market, but five homes a month constitutes a very busy agent. And on the flip side, the average real estate agent only closes about one or two homes a month, and it's usually closer to one. So the best real estate agent can give you five signings a month, and the average signing agent can only give you one. Once again, not very impressive, but a single escrow officer closes about 30 loans a month, and that's the average escrow officer. I've personally worked with some escrow officers who close well over 75 loans a month. See, an escrow officer's clients are the mortgage officers and the real estate agents. And every escrow officer has about six to eight mortgage officers as clients and three to four real estate agents as clients. So using the Average mortgage broker number of three loans a month times the eight mortgage officers the escrow officer works with. The escrow officer can give you 24 signings a month from mortgage brokers. Then seeing the average real estate agent does about one sale a month, they can give you four signings from real estate agents. That's a total of 28 signings an average escrow officer can give you. So how come I'm so sure that an escrow Officer has about 28 transactions a month? And it's because if they didn't, they wouldn't be employed. Escrow officers, unlike mortgage brokers and real estate agents are salaried employees, not commission only. So they have to close enough files each month to justify their employment. An average escrow in California is about $400. So if they did 28 files a month, they'd bring in about $11,000 of revenue for the escrow company. An escrow officer's salary is roughly $4,000 a month plus commission, which means that they make about $6,000 a month in total salary. So if they brought in any less revenue, they wouldn't have a job. It wouldn't make sense for the escrow company to have an escrow officer. So the beautiful thing about approaching an escrow officer for signings is you already know they have about 25 to 30 signings that they can give you. Now imagine if you had three or four escrow officers as clients. And now you can see why escrow officers are the best people to focus your time on. If you are able to obtain a single escrow officer as a client, you can make the part time income you've always wanted. So stop focusing on one mortgage officer or on one real estate agent. Focus on one escrow officer. They've done the prospecting of multiple mortgage officers and real estate agents for you. And like they say in business, learn to work smarter, not harder. Plus you don't have to split the fee with the signing service and you would have more signing appointments and than you can handle by getting signings directly from escrow officers. If you've ever wanted to make a notary signing agent as a career, you can see how if you only had three or four escrow officers, you can make a six figure income. If you don't know how to market yourself to escrow officers and you want to learn, I can teach you. Click on the link below to take my five star rated signing agent course today. I'm Mark, I teach the loan signing system and I look forward to helping you make money as a notary loan signing agent, Sam.