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A notary is a person who takes and affixes their signature on documents to verify that they are not copies. The job of a notary varies from country to country, but generally speaking, the role entails verifying or certifying sworn statements in legal cases. But with some simple steps, you can start your own business as an independent contractor for this profession.
A notary company is simple to establish, and some notaries may make up to $30,000 per year. It costs as little as $200 to get started. You’ll be up and running in no time if you fill out an application, satisfy your state’s criteria, take a few courses, get a bond, and file your paperwork.
The state will determine the maximum amount you may charge each signature for notarial actions in your notary firm. While the initial pay in charging 50 cents to $15 per signature may seem modest, the potential in starting a notary company is limitless. For example, after receiving your notarial certificate and completing some more training, you may become a notary signing agent, which can charge up to $100 for a single loan signing.
The six stages to starting your own notary company are outlined here.
Step 1: Verify the Requirements in Your State
Although each state has its unique set of rules, there are some fundamental similarities. They include the following:
- You must be at least 18 years old.
- Reside in the state for which you are applying.
- Have no felony convictions or offenses in areas linked to notary work (such as fraud)
- Learn to read and write in English.
- Have never had a notary commission remove my commission.
Even within the fundamental parameters given above, state notary regulations might differ from state to state. The state of Pennsylvania, for example, requires a notary to be able to read and write in English, but the state of California does not.
The National Notary Association has a guide to help you figure out what you need to become a notary in your state. First, select your state, then visit the National Notary Association website to learn more about the requirements.
Step 2: Finish Your Schooling and Training
While most jurisdictions have a uniform application procedure for becoming a notary, the required education and training vary. For example, Pennsylvania law mandates that you choose a classroom or e-learning course and pass a test within six months after submitting your first application. This is a common approach for obtaining a notarial certificate in states that need schooling.
How long will it take to train?
If everything runs well in jurisdictions that need courses to become a notary, you may fulfill your qualifications in as little as three months. However, communication effectiveness inside government entities varies by state and may occasionally be delayed. Therefore, it’s crucial to keep in mind the speed at which various government agencies work while designing your notary company and avoid drawing any hard borders.
It’s worth noting that just 12 states need the training to become a notary, while the others strongly urge people to do so on their own time. Visit the Department of State in your state to learn more about the educational requirements for becoming a notary.
Suppose your state does not need schooling to become a notary, but you’d want to learn more about the profession before delivering services. In that case, the National Notary Association offers information on self-study courses and various tools to help you get started.
What Does It Cost to Become a Notary?
Most education classes in those states that needed it were three to six hours long, costing roughly $200, and could easily fit into an already hectic schedule. Free and online education to become a notary public is available in several states, such as Florida. Check your state’s standards to see what they are; you could be pleasantly surprised.
Step 3: If necessary, get a surety bond
While it is assumed that you would fulfill your obligations as a notary with excellence, a surety bond protects the customer if you make a mistake that results in financial loss. A notary surety bond is distinct from a surety bond for another firm, and it is generally far less costly. The amount of surety bond you’ll need to become a notary varies by state.
What Is the Price of a Surety Bond?
A $10,000 notary surety bond costs about $30 for four years of coverage and provides consumers with trust in your work as well as certain safeguards in the event of a mistake. If you get a surety bond, for example, it will cover any customer damages up to the bond amount in the event of your carelessness or mistake.
It’s vital to know that a surety bond isn’t the same as insurance, and as the notary, you’ll be responsible for repaying the bond business for whatever money they provide you. However, unlike the educational requirements for becoming a notary, most states (over 30 as of this writing) demand a surety bond.
Even though it is unnecessary, some notaries opt to carry a “Errors and Omissions Insurance Policy” since it provides significantly greater protection.
Step 4: Submit Notary Documents to Become Official
After all of the prerequisites have been satisfied, submitting the paperwork to become a notary seems simple, but that isn’t always the case.
Every state has its own set of standards for notaries, so be sure to check with yours to see how they want submissions to be handled. For example, some states need you to submit your application via your bonding agency, while others merely ask for documents to be submitted online.
While the submission process differs in every state, the information you provide should be pretty similar. The following are often required elements:
- Completion of curriculum and test documentation (if needed)
- Checking your background (if needed)
- Residency or citizenship
- Evidence of bonding
- When reading this essay, you will come across other components you are likely to be acquainted with.
You’ll get your commission certificate after your application is granted, and you’ll be a notary public! Commissions typically last four years before being renewed; however, certain states may prolong this period.
Step 5: Purchase your notary supplies
While notary certificates (about $25 per 100 certificates) and state notary primer (roughly $20) should be purchased through your state of commission or the National Notary Association, below are additional items and their estimated pricing that you may buy elsewhere:
When you become a notary, most states will need you to acquire two items: an official seal stamp and notary certificates. It would help if you also got a notary journal and a state notary primer book, both highly recommended.
While the official seal stamp is how you’ll leave your imprint, notary certifications are often necessary for less visible reasons. When you become a notary, you will execute a variety of notarizations, each of which requires a separate certificate, all of which must have precise language mandated by law in the state you operate. Make sure you purchase a variety of different varieties.
When it comes to notary certificates, if you’re a member of the National Notarized Association, you may often get notary certificate forms for free!
A notary journal, in our view, should be a necessary purchase, and the National Notary Association strongly recommends it. When you become a notary public, you want to make sure that you maintain a thorough record of your notarizations to protect both yourself and the broader public. While not needed by law, it is one of the most straightforward, least costly, and most crucial additions to your notary arsenal.
If you reside in a state that does not need compulsory training (and even if it does), you may want to consider buying the state-provided guidelines to keep on your shelf. Pennsylvania, for example, provides a “Pennsylvania Notary Primer,” which is a handy reference tool for notary rules and procedures. When it comes to operating your new chances smoothly and confidently, a modest investment like this may make all the difference.
Step 6: Promote Your Services
When you’ve finished becoming a notary, you’ll be able to start promoting your services. People will be seeking notaries online in a digital age, so that’s where you want to be when they search.
It might be challenging to know where to start regarding advertising. We have some fantastic advice on how to market your services on Google to obtain new customers, as well as $150 in free Google and Bing credits to get you started. You want to be where people are seeking if you’re a new notary with no established client list or reputation. As people look for a notary in their neighborhood to help them, be the one who is smart enough to gain their business.
Final Thoughts
When we talk about becoming a real estate notary, we’re talking about how to advance your career and earning prospects. Starting as a notary requires five precise stages, all of which may be done in under six months, at a fair cost, and with a little initial expenditure.
After you’ve finished your first notary commission, you may start earning money in addition to your current real estate company. Feel free to use your new abilities in your existing website or create a separate website to promote your services. In addition, you could get some new real estate customers or real estate clients who opt to employ your notary services in the future.
