Hi,
WE ARE SO EXCITED TO HAVE YOU AS PART OF OUR WONDEFUL NETWORK OF LOAN SIGNING AGENTS!
Welcome to our Summer 2022 PSA for our LSAs! This is our space where we can connect with our valued LSAs, and provide quarterly updates, tips, tricks, and announcements regarding Precision Signing Agency.
The recent rise in interest rates has had a sudden and marked impact on the loan signing industry. While Precision Signing Agency has been fortunate enough to adapt and continue our growth trajectory, we know that many of our LSAs are struggling for business. To help, we wanted to share our Top 10 Tips for making a great impression and gaining more business with your favorite loan signing services.
OUR TOP 10 TIPS FOR GAINING MORE BUSINESS AND BECOMING A PREFERRED LOAN SIGNING AGENT
1) Express Gratitude
In the words of Ralph Waldo Emerson “Cultivate the habit of being grateful for every good thing that comes to you, and to give thanks continuously. And because all things have contributed to your advancement, you should include all things in your gratitude.” This may seem simple but it is often overlooked. Here are some of the ways I expressed gratitude as an LSA:
- Sending a small gift card to my favorite scheduler(s)
- Writing a quick note of gratitude – either an email or hand-written note
- Taking a moment to get to know the people you speak with on a regular basis – their hobbies, their family, etc.
- When big milestones happen, sending a gift of congratulations
2) Create Value
This is something I certainly wish I’d known when I first started working with signing services. I would respond to new signing opportunities immediately asking for a higher fee. No wonder I never got any signing service signings in the beginning. I hadn’t created my VALUE. If you are new to working with us, we don’t know if you are a great LSA yet. ALWAYS create your value before asking for exceptions, an increased fee, or special requests. What are some ways you can create value?
- Have a positive attitude
- Provide prompt communication
- Do an excellent job
- Own your mistakes
- Ask for feedback
- Express gratitude
3) Provide Prompt Communication
Do you hate getting those annoying “Confirm Order Reminder” emails, “ETA on your scanback”, or “Has the Order been Completed?” messages?
Here’s a little secret: we don’t like sending them!
- Our policy is that an order should be confirmed (or an attempt to confirm should be made) within 90 minutes of receiving the assignment. There are internal “triggers’ that happen when you record those actions in SigningOrder.
- Scanbacks are also expected within 2 hours of the completion of the signing. If you can’t provide them within that time, please let us know! Our clients are oftentimes expecting those for funding and delays have a domino effect.
- Need to be removed from a signing? Please let us know ASAP so we have a better chance of getting it reassigned. We know life happens.
- Have an issue at the signing table? Give us a call at the signing table! We’ll try our best to assist or direct you to who can. Don’t wait until after you’ve left or dropped the package to inform us of an incident or a document the signer refused to sign.
4) Follow the Instructions
Why does PSA require scanbacks on all orders? In short, as a quality assurance measure for PSA and our clients. How do you reduce your own personal error rate? READ and FOLLOW the Signing Agent Instructions that have been specifically curated for your particular signing, lender, or title company in collaboration with Precision Signing Agency. I can not tell you how many errors and return trips could be prevented if the instructions were read thoroughly and followed. Also, make sure to pay close attention to any additional instructions that come through on your order confirmation sheet (which I suggest printing and taking to each signing). Ex: If it says “print on all LETTER”, no need to message us to ask if you should print on Mixed Page Size. Does it say use BLUE ink only? No need to call or message us asking if BLACK ink is okay.
5) Take Charge of your Bookkeeping
Loan Signing Agencies get a LOT of questions regarding payment – terms, ETA of payment, etc. Precision Signing Agency now uses NotaryPay to pay all of our LSAs. This will come as an email directly from NotaryPay and you have the option to download an e-check, sign up for ACH/Direct Deposit, or have a physical check sent to you. We pay on a NET 45 day basis. Meaning, please do not reach out to us asking about missing payment unless its 45 days past your signing date. Oftentimes, your payment will come well before the 45 day timeline. As an LSA, I LOVED using NotaryGadget to stay on top of all of my signings – my schedule, tracking mileage, acknowledgment write-offs for taxes, payments, fees, expenses, etc.
6) Get a Great Notary Public Journal
Most states require that you keep a notary public journal of all of your signings or notarizations. However, we can’t count the number of times an LSA was contacted several days after the signing to address an issue and had no record of the signing specifics. As an LSA, I was frustrated there weren’t user-friendly notary public journals specifically designed for loan signing agents, so I had one published!
Use free shipping code PSA: Notary Public Journal for Loan Signing Agents
NOTE: Each state has different requirements of what type of notary public journal is valid.
7) Own your Mistakes and Fix them Promptly
I know as an LSA, I personally HATED discovering that I made a mistake. BUT, we are all human, we are all fallible, and it happens to everyone. It’s truly how you REACT to the situation that speaks volumes to your character. Take ownership, apologize, and get it fixed right away. We will NEVER fault someone for making a mistake. And if you handle it with grace, we will definitely work with you again. Most great LSAs probably aren’t even aware of this, but there are plenty of LSAs who refuse to get their mistakes corrected, make excuses, or flat out ghost us when we ask for corrections.
8) Ask to be put on the Preferred List
Do you enjoy working with PSA? Would you like to get more signings in your area? Then ASK to be put on our PREFERRED LIST! Sometimes our days get a little crazy that we don’t always have time to stop and add you to the list. A friendly and gentle reminder from YOU goes a long way.
9) Kindness Above All Else
How you show up in the world, matters. In our house, kindness wins above all else. Approach your day, your business, your family, your loved ones, your LIFE this way, and you’ll not only win more business, but new opportunities will present themselves. For PSA – and our LSAs specifically – be genuine and kind when calling to confirm an order, show up with a smile (and professionally dressed), thank the borrowers for their time, and be gracious toward everyone you interact with during the transaction.
10) Treat Your Business, Like a Business
This ties directly into creating value. I’ll provide a concrete example: We have quite a bit of HELOC signings that we send out. Our margins are much smaller on these signings, therefore we have limited to no wiggle room on the fee we can provide our LSAs (trust me, we would offer you more if it made any business sense). In one particular area in MA, I’ve had (3) LSAs that have become preferred because they ALWAYS accept them and didn’t counter the fee. Each one of them has completed 20+ in the past two weeks, which is roughly $1,500 total to each one of them. Meanwhile, we consistently have a group of LSAs that keep asking for $25 more per signing and consistently miss out on those HELOCs – which are super easy and take about 15 minutes. Would you prefer to be the “PREFERRED” LSA that gets ALL the business in your area or would you prefer to keep asking for the extra $25 and keep missing out on all of the business?
P.S. I called one of the LSAs that was consistently asking for $25 and explained the situation and told him he’d start receiving all of the HELOCs within a 15-20 min radius if he stopped countering the signing offers. He thinks big and operates his LSA business as a business and now is on the PREFERRED list.
BONUS Tip – Remember you’re always interviewing every time you conduct a signing. You’re interviewing for more business and, in some cases, for job openings. In fact, our entire staff is made up of LSAs we’ve worked with or been referred via PSA LSAs. See below for an exciting announcement!
As many of you already know, I was an LSA before I launched Precision Signing Agency into a nationwide loan signing service. As such, I have a unique understanding of your pain points, frustrations, and why some signing services aren’t super fun to work with. Part of my mission with Precision is to raise the industry standard of base pay for our signing agents and the quality of service we provide to our clients and our LSAs. The better the quality of service we provide, the more clients we gain, and the more signings we have available for you.
Keep an eye out for the FALL 2022 PSA to our LSAs where we’ll be providing anInsider Look into what it’s like to run a Loan Signing Agency!
Cheers to a great summer,
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