By Matthew D. Valera, Owner, Bay Area Notary:
Although the economy has not improved to this point as it was once predicted, there is still opportunities for notary signing agents.. Notaries are still fighting to survive and the strong, motivated, and business savvy notaries are still plugging away. Some are even growing their revenues. My business, Bay Area Notary located in the San Francisco Bay operating under the name www.BayAreaNotary.com has been thriving due to important steps taken within the last six to nine months. I have increased my budget and energy toward advertising to capitalize on the fact that many notaries are getting out of the business.
In business the saying goes if your not growing your shrinking. Your business is a living breathing entity that has to change with the times and economic climate. Entrepreneurs will always say you should never just stay where you are. When times are slow the automatic natural reaction is to pull back or slow growth. I believe you should do the opposite. By increasing your advertising you can quickly gain market share on competitors who are afraid of the uncertainty the future brings. You have to make and seize your opportunities. And when the economy finally turns around you will have put yourself in a better situation to take advantage.
Right now interest rates are still historically low even though the rates have risen within the last couple of months. This has kept refinancing consistent however with the credit crunch still occurring, lenders are still very hesitant to lend money making it even harder for borrowers to qualify. The trick is to obtain jobs from many lenders, not just one or two. By spreading your work around you will keep consistently busy. Simply apply the adage of not putting all your eggs in one basket. Foreclosures are still spurring purchases. Whether it's first time buyers taking advantage of tax credits and rebates or investors looking to capitalize on depressed prices, houses are moving. You just have to position yourself to be involved in these transactions. Stay focused and keep soliciting local title and escrow companies.
You also have to be extra creative in this market, by putting your notary commission to work in other "out of the box" ways. Try getting into employee verifications or DMV car verifications. A growing need for people to get electronic credentials has created a need for notaries. Employees are being required to be verified by a third party representative such as a notary to obtain these credentials and the National Notary Association has started a program to take advantage of this increased need. Read more at the NNA's site at http://www.nationalnotary.org to find out more information. Also DMV registrations on sales of used cars are needing verification of their VIN numbers. This is another niche to capitalize on.
There are many new ways to use your notary license to increase your revenue. You need to keep at it and continue to think of new trends and ways people are using notaries. Even though it is tough, there is work out there.
