Tina, Always good to have money coming in!  Good post!

Tina..thank you for the information I have been for the last several months trying to get my foot in the door...

Good advice. I am doing the same. Also doing some coaching and learning how to do Short Sales with a program that proves to result in 80% bank approvals.

It is important to build the skills to help our clients regardless of the market. We helped them when the market was great and now we have to help when the market changed.

Good Post! Thanks!

I'm definetly trying. Alot of them want experienced realtors with REO/BPO experience and I don't have any. Don't get me wrong I'm an experienced realtor =--------been in the business going on 7 years and have done okay. ---------NOt the top realtor in the area but midstream anyways. Any info would be appreciated. thanks candice joyner

Thanks for the info. I think it's a great time too. I've done BPOs for 2 companies so far. Pretty straight forward, but some of these companies don't pay at all but "recommend" you for the REO listings...is it legit? Anyone know?

One suggestion.  Check your State law regarding BPO requirements.  For example, Idaho law requires a broker's license and that the BPO conform to certain guidelines and addenda. Many of the companies requesting BPO's don't even provide a mechanism for providing the additional info.

Hi Tina,

Thanks for the good advice. Would you please send me some good BPO companies links, if you don't mind. My email address is:

intikhab62@yahoo.com

Thanks.

Thanks for the info. I have a question that I know some one can answer for me. When you do BPOs, does the payment have to go thru your Broker or does it come straight to you as the agent?

Thanks in advance for the answer.

Hi,

I would also appreciate any companies that you deal with.  I live in a rural area, and would love to sign up with some other BPO's companies, but I don't know where to get the names.  I hope you can help

Thanks in advance,

Nancy

Google is your friend when seeking BPO  companies to work for. Bear in mind that BPO also stands for business process outsourcing which is not related to real estate.

I've been doing BPO's since 2004 alongside regular resales. It took about 250 BPO's before I got a single REO as a local brokerage does nothing but REO listings and gets most listings.

You will need a lot of E&O insurance for REO work. You will need to pay for training before some companies will even consider your application. On mnay cases you only get a 90 day listing as a new agent before it will be poulled and given to another agent to try and sell it. You will have to check the property every week and do  monthly report on the property as well.

State regulations may require you to be a broker to do BPO's and may in certain cases require only Appraisers to complete BPO's. Yocept them directly. My state has a jail term and financial penalties for failure to route all payments related to real estate transactions through your broker.

Typical drive by BPO's pay $35 to $50 and an interior $55-100.

Also be careful with some of the BPO mills that don't pay - Getting REO's from a company is hard work, due to all these newer agents that want to get into. My advice is work on bpos and build a good relationship with the bank.

http://www.undermarketre.com  Real Estate and Mortgage Forum

Thanks for the tips, I do these for one company but I am looking for others to work with.

Joey

I am a new agent... I have always been interested in BPO's can anyone send me a list of info. I am in the Ga area and I have been told only Brokers can do the BPO's

Thanks

Lynn

Lgemini322@aol.com

Do you have to be a real estate agent in order to do BPO's?  Do you have any good sites for short sales or for BPO's?

Thanks

teresa

twkhemit@aol.com

I have found an free list of bpo and asset manager companies. http://www.insider-reports.com

It depends on State laws.In Pa  real estate agents are not allowed to do BPOs.

BEWARE!!!! EVALUATION SOLUTIONS DON'T PAY FOR BPO's. IF THEY JUST GAVE YOU AN ORDER THEY TRY TO GIVE YOU ALMOST EVERYDAY IN YOUR DESIGNATED AREAS. ALWAYS RUSH AND ALWAYS THE CHEAPEST PRICE. AFTER YOU ACCUMULATED AT LEAST $500 IN RECEIVABLES, ORDER START TO DIMINISH. WHEN YOU FOLLOW UP FOR YOUR PAYMENT, ORDERS TOTALLY STOPPED. SCAM!! SCAM. IF THEY PAY YOU AT ALL ,THEY PAY YOU AT LEAST 60 -90 DAYS AFTER YOUR JOB IS DONE. WE NEED TO BOYCOTT THEM. IT'S NOT WORTH YOUR TIME.

FOR ALL REALTORS STILL DOING BPO FOR EVALUATION SOLUTIONS! PLEASE BE WARY, DON'T DO ANY BPO FOR THIS FLY BY NIGHT COMPANY IN FLORIDA. I HAVE SEEN A LOT OF BLOGS ABOUT THEM NOT PAYING FOR THEIR BPO WHICH THEY ALWAYS WANT A 24 HOUR TURN AROUND AFTER YOU ACCEPTED THE ORDER. THE PROBLEM THEY ALWAYS GIVE YOU A RUSH ORDER, AT A VERY CHEAP PRICE, THEN YOU WAIT 60 DAYS TO GET PAID OR NOT EVEN GET PAID. YOU CAN MAKE A BETTER USE OF YOUR TIME ESPECIALLY NOW THAT GAS IS VERY EXPENSIVE. I ATTACHED HEREWITH A LINK TO http://www.ripoffreport.com/ ABOUT THIS VERY BAD COMPANY.

 http://ripoffreport.com/searchresults.asp?q1=ALL&q4=&q6=&q3=&q2=&q7=&searchtype=0&submit2=Search%21&q5=evaluation+solutions&Search=Search

Great information.  Can you also email me the link for companies that need agents to do BPO's?

idunlop17@hotmail.com

thank you

I am a pretty new agent with not a lot of experience.  I'm finding that most companies want you to have two or three years experience doing bpo's and want references.  Is there any way to get around this, and is there anyone that doesn't take experience into account.  Thanks in advance.

Sean Clark

sclark@onehomefinder.com