BPO Real Estate

BPO Real Estate is becoming a booming business. Some agents are incorporating BPO real estate as a big part of their business. BPO real estate can lead to REO's. I've personally listed about 5 REO homes in the past two months. My advise to agents interested in BPO real estate is to just keep at it, it took me some time. Good Luck

 

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6 Comments on BPO Real Estate

Alex, how long/many BPO's do agents have to complete before they start getting listings from these banks?  Or, does the agent often pick up the property they did the BPO on?  I'm not a real estate agent but the agents I work with couldn't hurt picking up a few REO's.  They just want to supplement, not transform their business?  It would just be another Open House anchor to get real clients.

03/10/2008 05:57 AM by Mark Organek - Gilbert Mesa Chandler Tempe REALTOR (RE/MAX Alliance)


Alex... On the questionair for my E & O insurance, they asked how many BPOs we did. I assumed this would have something to do with risk, and my premium price. What is your thought?

03/10/2008 07:24 AM by Chris Sloan Tooele Real Estate (Group 1 Real Estate)


I have done too many BPO with the listing going to the agent they typically use. I have given up and as long as I can I will avoid it.

03/10/2008 07:30 AM by Terry Westbrook ~ Realtor(R) Grand Rapids Mi Real Estate Ada/Cascade (Five Star Real Estate, LLC Grand Rapids , MI)


Some BPO companies wont give you REOs ever. So if REO is your goal make sure your working for the right companies. My first REO was given to me from RealTrans. I did BPO for them for about 2 year before that happened. Just during the last two months I've gotten 5 new reo listings from them. If I gave up that wouldn't have happened. 

 

If anybody wants to learn more about REOs I would recomment visiting this forum.

http://www.agentsonline.net its packed with REO and BPO information on individual companies. The giants of the reo world live there.    

03/10/2008 08:30 PM by Alex BpoAgent (Broker Price Opinion)


Bpo's do not always turn into reo's, REO is a different business, you have to contact AM's get on their good side and eventually get listings, also getting noticed on sites like http://www.assignreo.com  where AM's search for agents in certain areas.

03/11/2008 03:41 AM by Sandy


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Real Estate - Other: Alex BpoAgent (Broker Price Opinion)
Alex BpoAgent
Vancouver, WA
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