One of the second most lucrative jobs is also one of the oldest.
The earliest evidence of notaries dates back to 2750 BC. C. In ancient Egypt, where these historians verified official communications including proclamations and tax documents.
Notaries, or notaries public, authorize witnesses and the signing of important documents such as passport applications and real estate contracts.
While the essence of their work remains the same, the profession has since evolved to include notario signadores, or notarios, who specialize in property records and loan documents, an in-demand service that people pay a lot of money to. Are ready.
Most notaries can only charge what their state prescribes; On the other hand, notary agents may charge higher fees for handling confidential loan or mortgage packages, often with tighter terms.
The work is often flexible, and according to the National Association of Notaries, you can earn up to $20,000 per month as a part-time agent.
Here’s how to start a side job as a notary signing agent.
It takes a while to become a notary signing agent
The requirements to become a notary vary from state to state, but in general, the process involves the following steps:
- Submit an application and fee to your state regulatory office
- Receive your verified commission documents by mail
- you take the oath of office
You must be at least 18 years old to become a notary. There are no educational requirements, but some states, including California and New York, require notaries to take training courses and pass a one-hour exam. Other states may also require you to pass a background check and post bond as part of the process (you can check your state’s rules here).
To become a signing agent, Kat Garcia, senior manager of content strategy for the National Association of Notaries, recommends taking loan signing training courses and passing a second exam that the Signature Professionals Task Force completes. , the industry working group that sets professional standards for signing agents. ,
Although there is no exam or training required for signing agents beyond the general notary process, according to the National College of Notaries, taking a training course and passing an exam are “smart ways to demonstrate that you know how to handle the complex mortgage closing process.” I have been formally educated”.
The process to become a signing agent can take anywhere from 4 to 9 weeks, Garcia says, depending on how quickly the state can process your application.
Starting cost is less than $1,000
Signing notary agents typically need three supplies: a notary seal, a journal to keep track of their notary certificates, and their notary commission, which is an official license from the state to notarize.
The start-up cost to become a signing agent can range from $250 to $500 or more, depending on your state’s requirements to become a notary, says Mark Wills, owner of Loan Signing Systems and a signing agent for 21 years. depends on. This includes the cost of any notary/notary signing agent courses, exams, background checks, supplies and application fees.
Signing Agents can earn up to $200 per hour
Since many states limit the maximum amount a notary can charge per signature, signing agents make most of their profit from loan signing fees for additional services or expertise, explains Wills.
For example, you may hire a signing agent to meet you at your home or office for an appointment, in which case, the agent may charge a per-mile travel fee. In addition, signing agents may add administrative or administrative fees to your final bill.
Loan signing agents are typically paid between $75 and $200 an hour per term, Wills says, and they’ll often work with real estate agents, loan officers, and title and escrow companies.
To find clients, Garcia recommends the following:
- Develop a network with real estate agents and mortgage brokers. These professionals are often in need of notary services for their clients.
- Advertise your services online. You can also create a Google Business Profile or website to promote your services.
- Become a member of the Notary Signing Agents Association. This can help you connect with other notaries and learn about industry trends.
Angelina Nguyen, a signing agent in San Jose, aims for at least two signings a day, charging $75-$200 and sometimes more, depending on the type of document being signed. Does it need to be notarized and how far is the placement. This is from his home office.
Some signings take a few minutes, while others can take up to an hour. On average, Nguyen says he works out for “less than six hours a day.”
He says Wills’ favorite part of being a signing agent is the flexible hours. “People have different work hours, so many will need a signing agent at 8 a.m., 12 p.m., after 5 p.m., or on the weekend,” he explains. “I would say at least 70% of signing appointments are on nights or weekends, so this is the perfect flexible gig for someone with a day job.”