An in-demand side hustle that pays up to $200 an hour and doesn't require a college degree.
One of the most lucrative side hustles is also one of the longest-standing.
Notaries have been verifying official communications since 2750 BC in ancient Egypt, including proclamations and tax documents.
Notaries, also known as notary publics, verify and authenticate the execution of crucial documents, such as passport applications and real estate contracts.
Notaries have evolved to include specialized agents who handle property records and loan documents, which is a highly sought-after service that people are willing to pay a premium for.
Notary publics are limited in the amount they can charge, while notary signing agents can charge more for handling sensitive mortgage or loan packages under tight deadlines.
As a part-time notary agent, you can potentially earn up to $20,000 a month, with flexibility in your work schedule, according to the National Notary Association.
To begin a side hustle as a notary signing agent, follow these steps.
Becoming a notary signing agent can be done in less than a month without a degree.
Generally, the process of becoming a notary involves several steps, although the requirements may differ from state to state.
- Send an application and fee to your state’s regulating office
- Receive your verified commission documents in the mail
- Take your oath of office
In order to become a notary, you must be at least 18 years old. While there are no specific educational requirements, some states, such as California and New York, mandate that notaries complete a training course and pass an hour-long exam. Additionally, certain states may require notaries to undergo a background check and file a surety bond as part of the process. To verify your state's specific rules, please refer to this resource.
The National Notary Association's senior manager of content strategy, Kat Garcia, advises aspiring signing agents to take a loan signing training course and pass a second exam that adheres to the standards set by the Signing Professionals Workgroup, which governs the industry's professional norms for signing agents.
According to the National Notary Association, although no exam or training is necessary for signing agents to become notaries, taking a training course and passing an exam can demonstrate formal education in the intricate process of mortgage closings.
The time it takes to become a signing agent can range from 4 to 9 weeks, depending on the speed of the state's application processing, according to Garcia.
The startup cost is under $1,000
Notarizing agents require three essential items: a notary seal, a record-keeping journal, and a notary commission, which is a state-issued license to legally notarize documents.
The cost of becoming a signing agent can vary from $250 to $500 or more, according to Mark Wills, owner of Loan Signing System and a 21-year veteran of the industry. This includes expenses such as notary/notary signing agent courses, exams, background screenings, supplies, and application fees.
Signing agents can make up to $200 per hour
Notaries earn most of their profits from loan signing fees for extra services or expertise, according to Wills.
A signing agent can charge a per-mile travel fee and may also add clerical or administrative fees to their final bill.
Typically, loan signing agents earn between $75 and $200 per hour-long appointment, according to Wills, and usually collaborate with real estate agents, loan officers, escrow, and title companies.
To find clients, Garcia recommends the following:
- Real estate agents and mortgage brokers frequently require notary services for their clients.
- You can promote your services online by creating a Google Business profile or website.
- Joining a notary signing agent association can help you connect with other notaries and learn about industry trends.
In San Jose, Angelina Nguyen, a signing agent, strives to complete at least two signings daily, with fees ranging from $75 to $200, and sometimes higher, based on the document's type and the distance from her home office.
On average, Nguyen works less than six hours a day. Some signings take a few minutes, while others can take an hour.
Wills states that his favorite aspect of being a signing agent is the flexibility in hours. He explains that people's work schedules are varied, so many will require a signing agent at different times, including early morning, midday, after work or on weekends. He estimates that at least 70% of signing appointments occur in the evening or on weekends, making it an ideal flexible side hustle for someone with a day job.
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