Amid the mobile Notary boom and increased public demand for mobile services, new Notaries are asking the enduring question: How much can I make? And while the answer can vary dramatically, consider these insightful responses from the NNAs 2020 Notary Survey:
NNA surveys in 2017 and 2020 of more than 3,000 mobile Notaries as well as feedback from the Notary community paints a clear picture: If you put in the time and effort, working as a mobile Notary or NSA can provide you with good income and the chance to be your own boss.
To help you get started, we asked successful NSAs and mobile Notaries how they make a profit in todays market. And while everyones story is different, their success had 3 important factors in common: Gaining experience, dedication, and planning.
Your earning potential depends on many factors, but one of the most important is dedicating yourself to earning experience. New Notaries usually dont start out the gate earning large fees, so you must be patient, especially during the first year or two.
“Its not a get-rich-quick business,” notes David McCallister, who operates A Notary Group in the Boise, Idaho suburbs. But once you get 12-24 months of experience, you can bring in higher fees. We asked Notaries who have been in business 1-2 years how much they earned. More than 60 percent reported $1,000 per month working part-time, and that figure jumped to $2,000 for more than half of the full-timers surveyed.
One reason to start a Notary business is demand for Notaries is consistent in many different types of transactions. Loan documents arent the only thing customers need notarized. Many people stuck at home decided to update their medical and legal documents during the pandemic. 2020 saw an unprecedented flood of requests to notarize wills, powers of attorney, pension forms, healthcare directives and more.
So, if you want to start a Notary business, how do you sustain it? The answer is planning ahead.
A notary public loan signing agent provides the important service of overseeing the signing of mortgage, real estate and other loan documents. As an independent contractor, a notary signing agent’s income depends on their own ambition marketing skills and work ethic. But how much money can a notary signing agent make? Let’s take a closer look at the earning potential in this field.
Factors That Determine Earnings
Several key factors go into determining how much a notary signing agent can earn:
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Experience level – Like any career, earnings tend to increase with time as agents become more skilled and build up their client base. New agents may start out earning less while establishing themselves.
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Full-time vs part-time – Full-time agents who commit 40+ hours a week tend to earn more than part-time agents.
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Marketing efforts – Aggressively marketing services and networking with title companies and lenders can increase jobs and earnings.
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Efficiency – Agents who streamline their processes and limit driving distances can complete more signings in less time
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Additional services – Offering services beyond signing like document prep can provide additional income.
So an experienced, full-time agent who markets extensively may earn substantially more than a new, part-time agent.
Average Earnings
According to the National Notary Association’s 2021 Notary Income Survey, the average annual salary for a notary signing agent is $67,500. However, there is a wide range of incomes in this field. Here is a breakdown of the earnings:
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The lowest 25% of agents earn less than $57,800 per year. These are considered outlier salaries on the low end.
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The median salary is $67,500 annually. Half of agents earn more than this, half earn less.
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The top 25% of agents earn over $79,200 per year. These are higher than average salaries.
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The top 10% of earners make $117,000 or more annually. These are the highest incomes reported.
So while some agents earn well below the average, it is possible to earn over $100k for the most successful agents working full-time hours.
Earning Potential for Part-Time Work
Many notary signing agents work part-time, in addition to another job. For part-timers, the earning potential is:
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43% of part-time agents earn more than $500 per month.
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Nearly 30% earn over $1,000 per month from part-time work.
So part-time work likely won’t replace a full-time salary, but can provide nice side income.
Key Takeaways
- $57,800 (25th percentile) to $79,200 (75th percentile) working full-time
- $500 to $1,000+ per month with part-time work
But earnings vary greatly based on experience, hours worked, marketing efforts and efficiency. Both full-time and part-time agents can find the flexibility and income potential of this career rewarding.
Starting a full-time Notary business requires dedication — and a plan
Taking the leap to start your own business is exciting, but also daunting. The cost of starting a Notary business is low compared to other careers, but, success still depends the effort youre able to put into it. You need to plan your budget, marketing and work schedule.
70% of full-time mobile Notaries started earning a profit within 2 years.
Source: NNA 2020 Notary Survey
Before becoming a part-time NSA, Heather Wilson of Heather the Notary in San Francisco, California, planned to start her own laundromat. While the laundromat didnt work out, the business plan she developed gave her the basic knowledge she needed to launch a business, and thats when serendipity stepped in.
“One of my [banking] clients had done a refi and got to talking to the NSA at the signing and found out she was making $50,000 to $60,000 per year working part time,” she says.
From there, Wilson took several training courses and began working part-time as a Signing Agent while keeping her banking job. She made a remarkable amount as a part-time Signing Agent — earning more than $20,000 per month. By September, she was essentially working two full-time jobs. She had to make a choice, and she chose to be a full-time NSA.
Wilson says its far more important to provide quality Notary services and maintaining a successful business than trying to get rich quick.
“Im not in it for the money,” she says. “Im in it for the long game. I treat it like a real job, a career.”
Priscilla Watson of Notary by P. Watson in Tampa, Florida, is also starting her own full-time Notary business. A medical industry professional, she sees being a NSA and mobile Notary as more stable than her current job.
Watsons sister, who has been a Notary for several years, encouraged her to get her commission. But it wasnt until the onset of COVID-19 that Watson took her sisters advice.
“Jobs were becoming scarce, and I wanted a backup,” says Watson, who became a Notary in August 2020. Like Wilson, she quickly found she had to make a choice between working two jobs — and turning down an increasing number of signings — or choosing one over the other.
Watson is planning to go full-time as an NSA. Shes preparing to form a signing company with her sister, who also is a certified NSA. In addition, Watson has been certified as a fingerprint provider, taken apostille training and has gotten certified to perform remote online notarizations.
Diversifying your Notary business
- Percent who take loan signings: 76
- Percent who take general Notary work: 74
- Percent who take non-Notary work: 30
Source: NNA 2020 Notary Survey
As Watsons experience illustrates, providing a range of non-Notary services, such as fingerprinting, apostille services, field inspections, courier services or I-9 services can earn you extra income when you arent doing general Notary work or loan signings.
How Much I Made In A Month as a Part Time Notary Loan Signing Agent
FAQ
What type of notary makes the most money?
Are loan signing agents in demand in Texas?
How much do loan signing agents make in New Jersey?
How much do loan signing agents make in CA?
How much does a notary signing agent make?
An entry-level Notary Signing Agent with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $47.00 based on 19 salaries. An early career Notary Signing Agent with 1-4 years of experience earns an average total compensation of $32.50 based on 55 salaries. A …Read more
How much does a notary sign a loan?
To learn more about this, check out my other blog that explains the difference between signing service and direct business, but to summarize — notary loan signing agents who typically get loan signing jobs offered to them automatically through loan signing services are paid between $75 and $125 per signing appointment.
How much does a part-time notary sign a loan?
From my experience, a part-time notary loan signing agent can do 5 signings a week working between 10 and 15 hours (including the appointment and driving time). At $100 a file, that is $500 a week, or roughly $2,000 a month. Keep in mind, we are using the lower end of the fee scale in this example.
What happens if a notary signs a mortgage loan?
As such, the NSA credential brings added pressure; notary signing agents perform a vital role in deals worth hundreds of thousands of dollars. If something goes wrong during a loan signing and an NSA’s error causes a mortgage loan to go unfunded, the signing agent can be held responsible.