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bpo: The BPO Agent is NOT Your Enemy - 03/21/12 12:43 PM
The BPO Agent is NOT Your Enemy:
I do not understand why agents/brokers get annoyed, delay the return call, or worse don't return my calls at all when I am trying to make an appointment to gain interior access to their listings.  Especially when they are under contract on a short sale.  If there is no lockbox I have no choice other than to contact you for access and you probably put youself down as the contact in Equator or to the lender in the first place.   
You can not close your short sale without at least one outside BPO and perhaps multiple … (1 comments)

bpo: He Who Lives In Glass Houses.... - 08/13/11 11:25 AM
I was reading an AR blog this morning about how much a Short Sale Specialist thinks BPO Agents are pricing property incorrectly. My comment back was He Who Lives In Glass Houses Should Not Throw Stones.  Who prepared the CMA to list the short sale in the first place?  What makes that different from the BPO? There are no rules to a CMA.  It is completely up to the agent who can pick and choose which properties to include. I am a member of multiple MLS systems and only around 10-20% of the current Short Sale properties on the market are … (0 comments)

bpo: Just Say No to Low Ball BPO's - 07/04/11 11:09 AM
This morning I received an offer from Raj at Incubator, Inc to do BPO's for $18.00.  Are you freaking kidding me? I am a professional and I do not work for minimum wage. 
I have watched the fee for BPO's drop like a stone over the last 3-4 years. We were paid $50-100 which was a reasonable fee for our time and information.  I attribute this low ball practice to starving agents that are willing to work for less than minimum wage rather than go out and actually prospect for business. Now our Association's have come up with a BPO Certification Course that costs $125 + … (52 comments)

bpo: Is Your MLS For Sale? How About Your Soul? - 02/20/11 02:57 PM
IS YOUR MLS FOR SALE? How About Your Soul?
I recently received this notification from a vendor who will remain nameless to protect me from being sued:
Dear Real Estate Agent/Broker:
(Un-named Vendor) is now offering a new product, please read the descriptions below and update your fees:
"Subject Data Report: Focuses entirely on the subject property and asks for 10+ exterior subject photos, Subject MLS with photo gallery and completion of a brief questionnaire about the subject and subject market area. If interior access is obtained, 20+ interior photos should be provided of all rooms, damages, needed repairs and … (5 comments)

bpo: BPO vs Appraisal- Vote NOW! - 11/30/10 12:06 PM
I just got off a Linkedin Blog discussion where an Appraiser who is also REALTOR chided us for doing BPO's.  Really?  Should we stop doing CMA's too?  Thanks to HVCC many appraisers come from over an hour away and do not even have access to much of the local data yet they charge 10X what we are paid for a BPO. Sure it is much more work but is it really more accurate in this situation?  Often times the Appraiser never steps foot into any of the homes he or she has used on their appraisal but the local REALTOR who has access to … (4 comments)

 
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C J Johnson, Broker Owner-REO Manager CRS, ABR, SFR, NCHS, CBRS

Tehachapi, CA

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Directors Realty

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