Jeff,

BPO's for some are great and not so much for others. If you are an analytical person and generally prefer the follow-up and documentation rather than personal communication then perhaps this is your niche. For the most part Lenders are bureaucratic in nature. Logic and rationale do not play a part in their world.

If this bothers you , then I would suggest you move on. I for one had the opportunity years ago to build my business around REO's and Foreclosure's which would have meant thousands of BPO's. I did about a half a dozen or so but found them not right for me. I moved on.

Good luck in which ever path you choose. Just remember not to get emotionally attached to the outcome, believe me the lender's do not.

I've done BPOs and if you get a listing out of it then it's probably worth it (if you can sell it).  BPOs don't pay very well but if you don't do them somebody else will.

Hi Jeff, I have just started doing bpos...as a matter of fact my first one, was one where the owner put a sign on the door stating he would harm anyone who came to the house...i suppose he was mad about the foreclosure....anyay..would love to hear more feedback..with regard to whether doing bpos are worth is or not, you say you have been doing them for a while??  this one paid $90  I didn't do it because it seemed unsafe to do, and not worth it..but are others worth it?

Some people may not understand what a BPO is. Could you explain it more thoroughly?

My company went to a BPO meeting in 2006 in Texas.  Freddie Mac was a guest speaker.  One of the agents got up in the audience and asked why she should continue to do BPOs when she never got the listing.  Freddie Mac admitted, in front of over 800 agents, that Freddie Mac always took the highest BPO.  Reason: Their job was to get the highest rate of return.

However, that's about to all change.  The massive increase in foreclosure has just begun in some of the most over-priced areas.  Banks are getting much more realistic about BPOs.  I'd say, don't give it up just yet.  I think if they get to know you and start to value your BPO's, you might get pretty busy.

Did anyone else go to the BPO conference in Texas?

I do the BPOs but have not picked up any listings from them. They are relatively easy, quick, requires minimal work...and pays proportionately!

I have done BPO's, which stands for Broker Price Opinion, for those that may not know.  They are a little more in-depth than a regular CMA, as the lender's will want extra information on THEIR forms.

There are the drive-by ones with just a quick photo of the front/address verification & a street scene and then you do the market analysis part. And then there are the full interior ones...those are a joy, not knowing what you may walking into. I have also had the ones that just wanted all exterior photos & no interior photos along with a nice long list of how I'm supposed to the BPO.

I have turned some down due to knowing the neighborhoods and wanting to live rather than risk my life for a mere $50 to $100.

I myself have had a couple rejected because they didn't like the comps or the values that I put on the forms.  Upon calling and actually speaking to a live human being and able to explain the situation, they got it cleared and approved.  Sometimes, you just have to make the phone call to explain things.

It is good for the knowledge and you just have to decide if it is for you.

Good luck

Its very common knowledge that a recent sale sets the ceiling for what a home is worth, in a typical market.  A listing means very little, if anything in this regard...

I do BPO's as a means of keeping up on the market... you will rarely get a listing from any that you do..most companies have an agent or company in place.. Banks are not interested in the real value of a property just the value they want to get.. which is why they are in trouble now.. Not all areas are made up of hundreds of cookie-cutter developments where the houses are interchangeable.. 

Kaushik... I think things are changing.. and it is pending sales that are the most valuable.. sold info is old and many active listings have been on the market  at unrealistic prices.. in markets that are changing pendings give the best info but banks are not interested in those numbers..

Anyone out there do BPO's for BPO.com?

Is so, what is your experience with getting paid on time?

Jeff, that's just crazy -- but also may have something to do with the fact that many asset managers have been promoted from customer service reps, and are only 19-22 year olds doing hourly work.  They don't know anything about Florida real estate while they sit at some desk in NY or CO.

I personally am not a fan of BPOs because they always seem to take half a day to do them well, but that's me.  I'm very analytical and want to do it Perfectly, so I end up taking way too long in the process.  Hardly worth my 50-100 bucks, especially with gas and tolls factored in.  HOWEVER, I've become more proficient in valuing property and know the market better because of them too, so that's how I look at them... a learning tool that also gets me a few bucks here and there.

As for the listing part, my broker is an REO specialist and the NRBA's state Master Broker for Florida, so we get handed listings from them regularly.  So besides the bad, there's good too.  :)

HHmmm. BPO's - I love them. They don't pay well however...when your dues are DUE...the extra money can come in handy. When doing BPO's, remember....there is a bigger picture here. If you are creating a business plan that includes REO's....then BPO's are a must. In your business plan however...it should not have a picture of YOU doing all the work. That is what licensed assistants are for. I know of agents who have created an entire business of REO's and BPO's. Can you imagine doing 3-5 BPO's a day and getting 3-5 REO listings a week? It's happening all around you.......SSShhh. don't let it get out! REOMAC anyone?

I feel that appraisers might have the worst job in real estate. ex: if thing are good no one cares, if the numbers are bad EVERYONE is mad.

Agents doing BPO's can have a similar effect. several of my short sales have been subject to high opinions and have nearly blown sales. I have been able to fix those problems so far....thankfully.

some agents are doing these for money, and personally I don't think that is a win-win for anyone in the transaction. I would have to perform alot of these to make an income. not for me.

However, I have started doing them to gain relationships with banks. this is a win-win. and hey, it might pay for my starbucks habit. (ha)

Has anyone purchased an e-book for links to reo/bpo websites?  I am curious to see what they say.  But with the industry changing so fast-I can't imagine that the info is current...

I have been doing bpo's for 3 months and do it full time 6-7 days a week.  I am working thru a contracting company so have to split the fee. Typically I am marking $20 per report that takes me 1 hr to 90 min. depending how fast I can find comps.  I have a photographer take pics for me, so I just work from home.  The money is not good, but I get paid every 2 weeks.  The asset mgrs like someone already said are mainly just young kids who you have to call on the phone in utah and explain the florida market.  One asked me yesterday when I told him there was no house on the lot, just a slab, what a slab was????? Our company has only got 1 listing out of this, so that part of it is not going well at all.  I appreciate any feedback from anyone who is working directly for any of these companies.

 I am considering doing BPO again. I am a Realtor and I do not know if it would be to my benefit to become certified member of a National BPO company. It sounds like good information to enhance my knowledge from what I have read. But do Lenders really look at BPO certifications when selecting an agent to do one.

Been doing BPO's in a rural area for about 4 months.  Starting to recieve multiple requests a day and getting over the learning curve.  The more BPO requests I complete the better I've got, rarely do I have one kicked back at this point. I'd say stick with it, most of them are realitively easy and I'm finding I prefer this to general real estate sales.....I get to work from home and no whinning clients!  Making contacts with many asset managers, maybe I will end up with an REO, who knows.....at least it's a somewhat steady paycheck in this dismal market.  Just my 2 cents.

Hi John

 As you say "dismal market...how did you find so much BPO work so quickly? I've Got to get working on something with all this real estate experience and no buyers in the market!

I started doing BPO work a few months ago and received a listing as  a result of one of them.  Some Asset Management companies are known for giving out listings while others just do BPO's and then the bank has their specific agents that they want to represent them.

I do a few BPOs per month.  We get requests daily, but state that the minimum fee is $100 and 3 days.  If they give us a bad address, then the fee automatically goes to $150.  25% of the addresses they give us in upstate Vermont are screwed up, so this has lessoned the amount of time we waste.   They have started going back and checking with their "CLIENT" to guarantee the address.  Still, someone is doing the bulk of these BPOs for the lousy fees of $35 to $50 which hardly puts gas in the car. This, for us is significant because these properties usually involve travel of 25 to 75 miles.  I ask for more time so that I can arrange to accomplish multiple errands in the same trip.  I also find it amusing that everything is such a RUSH and then you'll see the same request for service dangling around out there for 10 days to 2 weeks before someone agrees to take it and go driving off into the boonies . . . . some RUSH!

Also, I have had to threaten to call in my attorney in order to obtain payment in some of these cases.  This enterprise is a form of interstate commerce which, though loosely monitore now, could have a Federal supervisory agency stepping in if they can't fulfill their side of the bargain and pay us our dinky little fees in a timely manner!

Thanks to Jeff Payne for this opportunity to VENT with some people who at least understand the issues. 

I just received my license in June and have been doing BPOs for my Broker so that I have some sort of income while waiting for my listings to sell and my buyers to actually buy! I have been trying to sign up with BPO companies so that I can do BPOs more often and under my own license. My problem is that in our small town and the surrounding rural areas the agents treat their BPO connections like highly guarded secrets.

I ask this favor:  If South Dakota is not in your BPO area, would you please email me the information for the companies you have success doing BPOs for?  I am signed up with ValuationSupportServices.com and ClearCapital.com and have had no problems with them. They can't keep me busy enough and would like to connect with other companies as well!   Thanks~~     brenda2724@gmail.com

Brenda,

I offer a list of companies that hire field inspectors and agents for BPOs. Here's the scoop:

Now Available – Field Inspection Company List  

With the slow down of the real estate and loan markets, to continue a successful, profitable Mobile Notary business, a Notary must diversify. With foreclosures on the rise, there is a need for Field Service Inspectors all over the Country.

The list is great for Real Estate Agents, Mobile Notaries and Loan Officers that are looking for other streams of income in the current market. You won’t get rich quick, but you should be able to earn some extra money without a lot of effort. At least that's been my experience.

Field Service Inspectors are used to provide on-site property inspection services for lenders, loan servicers and investors. There are many types of property inspections that are needed, most of which enable a mortgage servicer to make decisions on their properties with the information received from an inspection. Some of the basic information collected on an inspection would be occupancy status and damages. As a Field Service Inspector, you are responsible for completing basic inspection reports, photographing the property and uploading your report and photos to the hiring companies website. If you are a licensed Real Estate Agent, you will earn more for BPOs than an unlicensed person completing basic inspections and drive by inspections.

After weeks of work, I have compiled a list of over 200 companies (11 pages) that hire independent Field Inspectors. The list is easy to use and has hyper links to all of the 200+ companies, making it easy for you to locate and sign up as a vendor with companies that want to hire you.

All of the company information on the Field Inspection Company List is readily available to anyone that wants to take the time to compile the information themselves. All I am doing is offering the list without the work. I’ve already done the leg work and want to pass along the list for a nominal fee. Having the list will save you hours of research online.

To purchase the Field Inspection Company List, please email me or send $9.95 via paypal to floridasnotary@yahoo.com. Once the fee has been processed, I will email you the list in both pdf and Word formats.
 

There is so many companies out there doing BPOs. But the 80/20 rule applies here, most companies dont have that much work. You just need to find 5-6 really busy companies. For me clear capital, emortgage logic, and land american, real trans have been really good. I found a list for free if anyone wants it bpo4agent.com

The companies that have been good for me are:  Clear Capital (averaging about 40 to 50 BPO's per month), Pro-teck, Main Street Valuations, Land America.  There are several companies out there but these are the only ones that are actually giving out BPO orders.   I think this website needs to share information instead of making a fee for these companies and everyone would profit.  With a difficult market right now..making $ 2000- $ 2500 per month on BPO's works for me.   GOOD LUCK.

Our team doesn't do BPOs but is consideing them as a potential source for listings in 2008. The challenge with listing comps in many of our neighborhoods is that there is such a wide range in price - from the desperate foreclosure seller to the family who has consistently made their payments but now finds their equity eroded by market conditions.

Hello Jeff,

I always say that if you are learning something from what you are doing, than it is worth doing. I am currently starting to get into BPOs (just signing up with companies) and I am looking forward to completing some hopefully soon.

Thank you for the post.

D'Adrea Davie www.motheranddaughterrealty.com

As a real estate agent doing BPOs in the state of Florida, can a real estate agent be paid directly from the company requesting a BPO or does he need to be paid through the broker?

My broker does not want the money. The BPO companies pay me direct.

I do BPO's for an asset management company and usually get the listing.  They don't challenge me like that, they just want my reasons for using the comps I use if they are not within their guidelines.  They typically list the property for what the appraiser tells them & sometimes that's way too high.  It will end up selling with 95%-100% of what I tell them it will.  I did some when I was at a previous company & never ended up with the listing.  Now that was really a waste of my time.  Good luck!

In Nevada, you have to be an appraiser to do bpos for compensation.

In today's market, it helps to make a little extra money.  Do what works for you!!

Can Any one tell me the BPO companies NOT to work for? I read a article about Coast to coast and BrokePriceOpinion.com saying they don't for all or most of the deals. I hear you need to watch for some that are scamming agents. Does any one know if in California the broker gets a cut, because there isn't much to shave off  a $60 dollar fee. 

It is my understanding that licensed Brokers can do BPOs for a fee, not Salespeople in Michigan, I know salespeople are out there doing them.

I would also like to know the laws for BPOs done in Florida.  Broker need to be involved? 

i need to sign up to do bpo but do not know any companies web address. would anyone be willing to help me

Its all about the BPO period it set the standard on my last 5 APPROVED short sale deals.  One tip that works everytime on a short sale listing when the BPO agents comes out to your listing have the BPO completed for them with all the supporting comp data.  Meet them at the listing use your influence to get your price and give them all your work.  They will love you for it and probably give you your number.

Anthony - www.BPOAgentsWanted.com

I have been doing bpos for over 3 months with 3 different companies.  I have done a total of 40 bpos.  I am still waiting for a listing.  The banks seems to give them to certain agents.  If I don't get a listing from them soon,  I just might call the bpo company and ask for some listings.  It would not hurt to ask.

As far as taking a fee in Florida for a Bpo the broker in which you work for needs to accept the payment otherwise it is illegal. They wrote an article on it in either the Florida realtor or realtor mags last month.

You can do 1000 bpo's and never get a listing.  Wether or not you get a listing depends on a number of things.  If clarifications are requested call whomever ordered the bpo and explain.  I have had companies call and ask me to remove a comp property etc.  I used to say okay blow off something else and meet their deadline and do the deed.  I have realized over time that my time is more valuable that what others may think so I review my bpo when a clarification is requested and call to argue my point if i feel I am right.  When I call I usually get the bpo approved. 

A Realtor in our office has 25 REO listing and averages 5+ sales a month just because of his BPO participation in the past.  Back when the market was hot in 2003-2005 other agents would tease them about wasting their time for such "small change."  I guess it paid off.  Of course now they don't give their sources away either.  I ended up purchasing a huge list on StartBPOs.com.  Maybe ill get some listings after I do my time.  Now there are so many BPO companies out there.  I had a few bad experiences but now I just don't answer their emails anymore.  BPOs are not that fun but darn important in my book.

Angel - that amount of money every month works for me too!  Are there any hints you could share for working with these companies, getting started, etc.?  Thanks!

I have just started filling out apps and have just completed my first BPO    Seemed to take an eternity to complete......probably a little more intense than I thought it would be.  BUT  I felt this was a great learning experience.  I do know this......I was able to grab this invite or request and during this first week of sign up 5 others were posted in closer territories and they were snapped up before I was able to catch them! Sooooomy guess is that they are worth the time and effort to become proficient at.  I know agents who have developed teams to complete them and totally use this as a supplement to their business.  I would be interested in hearing more comments and am hopeful that this is a stream of income that will increase with the new year!

Char - where do you live? I'm working on getting into BPOs too. What company are you referring to if you don't mind if I ask. I googled BPOs & found something called Directory of Property Valuation which might be helpful to you.  Some require an appraiser but I found a few to apply to.

BPO's are fine as long as they don't take you away from the big money.  They can be time consuming and take your focus away from the big commission check most of us covet.  Find a balance and use BPO money to fund your marketing and expenses and then the big check becomes that much bigger.  But be careful..BPOs can suck you in and then at the end of the year you've made 20K less than the year before all under the idea that BPOs are a stable flow of income...yeah less income.

I have been doing BPO's since i started in the business a few years ago.  I cannot complain in 2007 I completed 448 orders.  and in the down market and semi rural location i am in it sure was a good income supplement. 

I am encouraged by all of the comments on here. I have 3 kids and in need of extra money. Whether it's $50 or $75. I need any  money I can find. . I signed up with an REO company in August and received 3 listings within a week in December. I have never received a BPO. I'm learning. I really like it..SO if I received a REO, Does that mean I have the listing? I have offers pouring in. I was cleaning out the yard and was approached by realtors wanting to submit an offer. I hope I get BPO's. 

I have been doing BPOs for a few months now and really enjoy the work and the money. I do about 2/ week and soend about 2 hours per report. I have gotten a system down wherby I look up the property in the MLS first and see what I can find, then I go out and take multiple pics, then I come back and open the MLS and work the report. I have learned that if a recent sales has not occurred and I need to guess the sq ft, room count, etc... to call the BPO co. and ask what they want me to do. If I don't, what I decide to do is usuually wrong and I'm gonna have to redo it.

I went www.AgentBPOs.com and downloaded their info to get started. It has active links to sign-up pages, sample bpo page links, how to, and other informative info.

 Hope this help other in this tough time being a RE agent!

M 

Now Available – BPO/Field Inspection Company List

This list is great for Real Estate Agents, Loss Mitigators, Mobile Notaries and Mortgage Brokers that are looking for more leads and streams of income. You won’t get rich, but you should be able to earn some extra money, get qualified leads and even gain REO listings without a lot of effort.

Field Service Inspectors are used to provide on-site property inspection services for lenders, loan servicers and investors. There are many types of property inspections that are needed, most of which enable a mortgage servicer or insurance company to make decisions on their properties with the information received from an inspection. Some of the basic information collected on an inspection would be occupancy status and damages. As a Field Service Inspector, you are responsible for completing basic inspection reports, photographing the property and uploading your report and photos to the hiring companies’ website. If you are a licensed Real Estate Agent, you will earn more for BPOs than an unlicensed person completing basic inspections and drive by inspections and you may also receive the REO listing.

I have compiled a list of over 200 companies that hire independent Field Inspectors and Realtors. The list is easy to use and has hyper links to all of the 200+ companies, making it easy for you to locate and sign up as a vendor with companies that want to hire you. The list includes links to more online lists and field inspection/BPO groups and forums so you have a place to ask the experts and research companies that hire field inspectors.

All of the company information on the Field Inspection/BPO Company List is readily available to anyone that wants to take the time to compile the information themselves. All I am doing is offering the list without the work. I’ve already done the leg work and want to pass along the list for a nominal fee. Having the list will save you hours of research online.

To purchase the Field Inspection Company List, please email me or send $9.95 via paypal to floridasnotary@yahoo.com. Once the fee has been processed, I will email you the list in both pdf and Word formats.

Rebecca, this sounds like the same list I purchased from a REO program that is copyrighted. He even used the exact same wording you have with the same number of companies you are offering with hyperlinks in a PDF format , etc. Coincidence?

Robert,

I don't know how or why he is copyrighting information that can be found by anyone so inclined on the world wide web.  As I stated in my advertising " All of the company information on the Field Inspection/BPO Company List is readily available to anyone that wants to take the time to compile the information themselves."

My list is a compilation of four lists that are available on the internet. I also include links to three other web based lists. Anyone with data mining knowledge and good internet search skills can find the information that is on my list and your “copyrighted” list.

This is not rocket science, you just need to know where to look for the information and many people don’t know where to look.

I guess if its so easy to find, not sure why anyone would pay $9.95. Good Luck.

Can anyone tell me if getting certified to do BPO's is beneficial or not?

I am interested in BPOs but I am not sure I am willing to pay for the information.  I have doing my research and I have found out a great deal of information form that.  What else could they tell me?  I have seen price from getting a list for about $10 to 200-300 dollars.  SO what is the deal? Sounds like a way to get paid for doing something or selling something to someone that could take the time and find out the same information from the internet.

Since is an Opinion, not an appraisal and since we give Opinions all the time anyway, can it be that different that it would cost so much to find out about how to do it? 

Hi..

I was assigned 3 listings but my broker decided it was not something that our brokerage was going to do. Needless to say, I'm upset..so I lost them.  Cited that it violated our state real estate laws. I think that the agreement was fine, but it said that the agent/broker was responsible for getting the utilities in the brokers name and other services.. I left Re/max to come to this new company which would have accepted this agreement.. So I need to ask does your broker have any trouble signing these agreements?

ALEX wrote:

There is so many companies out there doing BPOs. But the 80/20 rule applies here, most companies dont have that much work. You just need to find 5-6 really busy companies. For me clear capital, emortgage logic, and land american, real trans have been really good. I found a list for free if anyone wants it bpo4agent.com

 THANKS ALEX! THIS WEBSITE IS FANTASTIC! 

 I have been doing BPO's since 2005 and find it a nice way to keep my bubble gum money fund supplied.  I have read most of the post and it is true it can be a little frustrating to work with some of the companies mainly because they are NOT agents and really don't understand the market,conditions, etc.  Their main goal is to turn in the best value possible to their client; even if it means requesting that you find "better comps" than the last 6 months of solds!  Sometimes I laugh and think, wouldn't we ALL like to find better sold comps!

Unless you have a good liquid working fund, it is sometimes not a good thing to take on REO listings. I have been offered these in the past and I turned them down once finding the firey hoops I had to jump through. First, I had to maintain all the utilities and the expenses involved. I had to maintain the house,lawn,trash etc., all at my own expense and THEN submit a reimbursement request with Lord only know how long it would take to get that check! Plus, have you ever tried to sell a REO? I have been the Buyer's Agent for a couple and it's a fricken nightmare to work with the banks.  I can only imagine if it were my listing.

All of the Fannie Mae,Freddie Mac BPO outlets are really not worth it unless you just want the experience in doing excessive government paperwork! And, their fees are about the same as any other agency.

BTW, Don't pay someone else for leads to find BPO companies etc, unless you are really lazy!  It only takes a little digging on the Internet to find all that you need. Thanks to Alex, the website he has provided you need to look no further!

I recommend these companies which I have provided BPO's, they pay in timely manner and easy to work with: www.clearcapital.com , www.assetvaluation.com , First American Value View (www.farvv.com)

Finally, if you have a client relocating to the Northern Virginia area, my referral commission is 45% until April 1, 2008. I can be contacted at realtorvwatts@aol.com

I have been doing BPO's now for some time....... One company sends out the order on a first come first get type situation and it can become a battle to get the order.  They also reject several based on your theroy of the 10% factor.  I have NEVER recieved a listing from doing BPO's... In fact I have been sent to do many BPO's that are already listed by other agents....This part I have NOT figured out.

I have recently signed up to to BPO's with a new company that contacted me and Also to have been doing Loss Mitigation over the past year.

I have seen a couple agents in our market make a good living dealing in REO properties.  I'm waiting on my turn to cash in on a few of these deals.  I'm looking for more BPO/REO companies. In past I have only done work for the 3 that have contacted me. I'm sure there must be a way to find the companies needed BPO's and get in the rotation...... Just need to find them...

I am a licensed real estate agent in California.  I am have been trying to find some training in doing BPO's.  Does anyone have any suggestions?

I am a licensed real estate agent in California.  I am have been trying to find some training in doing BPO's.  Does anyone have any suggestions?

I did several hundred BPOs in 2007.  I average about $1500 a month in income from the BPOs.  98% of them are within a 10 minute drive from my house, in a subdivision with plenty of available of comps.  Including drive time to take the pictures, I average about 45 minutes on each report.  Easy money and it keeps my light bill paid.

I'm a Realtor in Texas.  I've done BPO's and have strong opinions about them.  Lenders want to pay you nothing for a watered down appraisal to avoid having to pay a full appraisal.  Lenders are Banks and Banks are not your friends.  They would cut your throat for a profit and have tried to do just that with their efforts to get laws passed allowing Banks to sell real estate.  Fortunately there are political action groups in our business that lobbied to stop that and have been successful so far.  It doesn't mean that the Banking Industry won't be back with a new attack strategy.  They will.  With your mind right about banks think about what it costs you to do a BPO.  Your time is worth money too.  Gas is outrageous as well.  A $50 BPO is a losing proposition and an insult.  Anyone who says "I might as well do it cause somebody else will if I don't" is just the sort of fool these banks are looking for.  It will never change until WE STOP doing them for cheap fees.  Minimum for a Drive By should be $100 period.  Inside BPO's should be at least $150.  If your doing them for less than that then you have no right to ever complain.  You aren't the solution, you are the problem.

John, have you had success at getting 100.00?  I have thought about accepting them but only for more money. I'll try it for the next one.

I JUST STARTED DOING BPOS.  I WAS SURPRISED TO SEE THE FAST RESPONSE. I RECEIVED THREE ORDERS  3 DAYS AFTER I SIGNED UP.  I ENJOY DOING THEM AND I'VE GOT TO KNOW NEIGHBORHOODS I'VE NEVER BEEN IN BEFORE.  MY ONLY PROBLEM IS WHEN I HAVE TO GET AN ESTIMATE FOR REPAIRS.  I AM NOT A GENERAL CONTRACTOR AND I HAVE A HARD TIME TRYING TO GIVE THE CLIENT AN IDEA ON HOW MUCH IS GOINT TO COST TO REPAIR THE PROPERTY.  CAN SOMEONE TELL ME IF THERE'S ANY REPAIR GUIDE I CAN REFER TO FOR ESTIMATE ON REPAIR COSTS?  HOW DO YOU COME UP WITH THESE NUMBERS WHEN YOU'RE NOT EVEN HANDY? 

I WOULD LIKE TO KNOW HOW YOU DETERMINE REPAIR COST (MATERIALS AND LABOR) FOR HOLES ON THE WALLS OR BROKEN WINDOWS, FOR EXAMPLE.  THIS IS THE MOST DIFFICULT PART FOR ME TOO.

I have been doing bpo's since Auguest now and I was able to get some listing form calreo in california which was pretty good. Couldnt sell it though so I guess that was a little waste but I have been getting these companies sending me bpo work.. i guess it helps to do them for now and maybe get another listing.

 Just recently got a guide and a list from www.bpobook.com and signed up with about 15 of thier companies and got ok results.

Jeff,

It worked at first but now they can find anyone to do them for small fees.  I refuse to ply my trade for free.  Tell you too, I have discounted my last commission fee as well.  I have actually walked away from listings because they refused to pay our fee rate.  Let the other guy work for less money.  I have good listings and do well by sticking to my principals.  Everyone has to do it their own way though.  Give it a go Jeff.  There is things to learn and you can always change your mind later.  Good Luck!

CAN I GET SOME SUGGESTIONS ON REPAIR COSTS.  I'VE DOING REAL ESTATE FOR ABOUT SIX YEARS.  WHEN ANY OF MY LISTINGS OR SALES NEED REPAIRS, I CALL A SPECIALIST ON THAT PARTICULAR PROBLEM AND TAKE CARE OF IT LIKE THAT.  ON THESE BPO'S THEY ASSUME YOU ARE AN EXPERT AT PRICING MINIMUM AND MAJOR REPAIRS.  I DON'T FEEL COMFORTABLE CALLING ONE OF THE INSPECTORS OR HANDYMAN I USE TO GIVE ME ESTIMATES, KNOWING THAT THEY WILL NOT GET THE JOB.  I WANT TO BE AS PRECISE AS I CAN WITH THESE NUMBERS.  ANY SUGGESTIONS?  DOES ANYONE KNOW OF ANY REPAIR GUIDE I CAN USE?  SOMEONE HELP ME, PLEASE!!! 

Vickyann, email me directly robert@harfordadvantage.com to discuss. Are you doing an Interior BPO? Also, please consider joining the forum. The exposure is great and you will join a community of professionals!

hi Again-

I'm one of those agents that bought a list and yes, I could have spent hours doing my own research to find BPO companies but instead I paid $14.95 (which equates to about 30 minutes of my time doing a BPO) and rec'd all the info I needed to get going doing BPOs including active links to BPO companies, their registration pages, along with sample BPO forms. I am guessing the program took someone a lot of time to compile and I think it was well worth the $14.95. Sure, you can go do your own research...and spend hours doing it but why? My time is valuable to me! I'll pay the measely $14.95 to get the report. No, I won't pay $200 nor will I pay to get "certified" since no one has ever asked if I am certified. But I think www.AgentBPOs.com created a great little package.

Hey 'MARCIA" - instead of spamming the forum with your commercial, join the club!

I just started doing BPOs and I like doing the research.  I still have a ways to go on registering with the different companies.

Marcia,

Just to point out some realities to your sales pitch.  If your time is valuable and you are currently too busy to do research then you are probably too busy to do BPO's too.  Based on my experience,,,,,,,,,yours may be different.......

So here's a question: who gets paid for doing them? You, or your broker? Do real estate laws require you to be paid through a broker for this type of work?

Vickyann, to help with