How To Become A Notary And Make Extra Money On The Side
Life is very expensive right now. To combat high mortgages, rents, and food expenses, more and more people are looking for a side hustle. One option for earning some extra cash is to work as a mobile notary. Notaries make between $75 and $200 per appointment and have flexible schedules. Keep reading to learn how to become a notary.
What Does a Mobile Notary Do?
If someone needs to sign or have someone else sign an official document, they need a notary. A notary makes the contract legitimate and prevents someone from lying about signing or not signing a document. If someone is a mobile notary, they go to a place of business or residence and oversee the signature process.
Mobile notaries usually sign off on things like car titles, wills and trusts, and home loan documents. First, the notary verifies the ID of the signer and then watches them sign the document. Then, they sign and stamp the document themselves. The process is simple but essential.
Notary Requirements
Each state has its own set of requirements for notaries. However, the process is similar in every state. You should research your state’s requirements for being a notary, but here’s a quick look at the process in Arizona:
Download and fill out the state’s notary application
Get the application notarized
Send in the application and pay $43 for the application and $25 for a $5,000 bond
Pass the background check
In most states, the process takes a few weeks. You’ll need to familiarize yourself with state notary laws. Some states require you to take a notary class. If you plan on taking a course, make sure it complies with your state laws. There are just as many legitimate programs as there are scams.
After you meet the basic requirements, you should consider obtaining a mobile notary certification. For $65 a year, you get the title affiliated with the National Notary Association Certified.
Materials and Costs
In addition to meeting your state’s licensing requirements for notaries, you also need to have a few additional products. You probably need to have Errors and Omissions Insurance coverage, which costs anywhere from $100 to $200 each year. If you don’t have such protection, you could be on the wrong end of a court case.
You also need a notary stamp. Fortunately, this isn’t very expensive and only costs about $20. Before you receive the stamp, you will need to send in your notary certification.
Depending on your state, you might also need a notary journal. This costs between $10 and $20. You use the journal to log your jobs and all of the details of each job.
Other Considerations
As a notary, you need to be able to print and scan documents. If you don’t already have a good printer and scanner, you should invest in one. These usually cost between $250 and $400. Keep in mind that you will also have to supply the paper and ink.
Getting Started as a Notary
As with all side hustles, it takes time to build up your notary business. There are a few ways in which you can get clients, but they all require either time or money. You can either work with signing services or do networking to build a name for yourself in the industry.
If you work with a signing service, you sign up and get on a database that title companies use to locate notaries. When a client hires you through the database, the signing service takes a percentage of the total signing fee. The system is very much based on your performance. If you aren’t professional, you’re unlikely to do well with a signing service.
If you want to build your business through relationships, you need to spend time marketing your business. You can reach out to loan and escrow officers to offer your notary services. Instead of only receiving a portion of the signing fee, you receive 100% of the signing fee.
Paying for Courses
As a notary, you might struggle to find clients. One way to overcome this obstacle is to pay for a notary program. There are many coaching programs available to help individuals grow their notary business from a side hustle to a large-scale business.
Is it worth paying for a course? The answer to this question depends on your skills and your goals. If you’re a strong marketer and don’t want to spend more than a few hours a week on your side hustle, you shouldn’t do a coaching program. But, if you’re trying to build up a side hustle that replaces your full-time job, it might be worth paying for a program.
Don’t just sign up for the first coaching program you come across. Spend time reading reviews and find out whether members of the program have success. Rather than base your decision on trust, base it on actual testimonials from paying members.
What Skills Should a Notary Have?
There are a few skills that could help you excel as a notary. For one, you should be good with people. If you can’t build a rapport with clients, you won’t get many bookings. You need to be able to empathize with prospective and current clients and make them feel comfortable.
Marketing skills can help you grow your business. If you have any skills in digital marketing, you may be able to stand out as a local notary. You can take free courses on digital marketing to improve your skills, and these skills could help you in your career as well.
Finally, a notary should be professional. You need to be organized, well-spoken, and personable. Because signing documents requires attention to detail, you can’t rush through signings. The way you handle yourself during a signing could make or break your business.
Getting Started
Due to the fact that starting out as a notary requires little capital, it’s an attainable goal for almost anyone. If you’re ready to launch your side hustle, don’t waste any more time.