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REO's from BPO's

All I can say is that it takes a lot of hard work and even more hours to turn BPO's into listings. I've been doing this for a long time! You really do have to start from the bottom up, just as many of the bloggers have said. Apply to companies, hope for work and get it done right, on time. Many of the BPO companies work on a point system and you loose points when the report gets kicked back or when it's late. The better your score, the more work you get. It's pretty simple. Don't bite off more than you can chew! Trust me when I tell you, you aren't going to ever get ahead by falling behind! It's really more about quality than quantity.

Posted by Donna Matthews on 04/26/2008 07:01 AM

Comments (14)

advice, bpo, reo

14 Comments on REO's from BPO's

Not all BPO companies ever get REO listings. One of the best ways to get REO listings is to have your broker sign up for the big companies. There is training and time involved in doing REO's and they aren't for everyone. I just finished the required Freddie Mac training and you need to be prepared for just about anything including evictions!

04/26/2008 07:07 AM

by Cindy Jones-Offering Real Estate Service for the 21st Century in Northern VA (RE/MAX Allegiance #1 RE/MAX Company in the World)

Donna thanks for the input. I am heading out today to do my first bpo. I couldnt believe that I finally got one I swear I click with in a minute of the email and still dont get it. Hopefully this one leads to more

04/26/2008 07:09 AM

by Orlando & Lake Mary Real Estate Expert, Heather Joubran (RE/MAX Central Realty)

You're not kidding! My point is this, you cant really expect to do a few BPO's and automatically get the listings. I think that a lot of newer agents are under that impression.

04/26/2008 07:10 AM

by Donna Matthews (Fischer Realtors)

I started out doing BPO's for a company and did them for about 2 years before I got my first REO listing and when I did I picked up 2 listings. Now I carry about 12 listings from the company. Another company I work for started the same way and I get about 4 a year from them. it is a lot of work and it looks like you have to prove yourself to them.

Don R.

04/26/2008 07:14 AM

by Don Rogers CRS, GRI, Broker/Sales Associate (RE/MAX Discover)

I hav e been doing BPOS now for about a year. I do them right and deliver on time...maybe one day it will translate into real money.

04/26/2008 07:16 AM

by Gary Waters - Real Estate Agent Viera Suntree (Century 21 Baytree Realty www.moving2brevard.com)

Donna, thanks for the advice and congratulations on your first post.

04/26/2008 09:17 AM

by Omaha Real Estate -- David Matney, CRS,GRI (Alliance Real Estate)

Thanks! I don't think it will be my last!

04/26/2008 09:22 AM

by Donna Matthews (Fischer Realtors)

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain. It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

04/26/2008 09:51 AM

by Omaha Real Estate Troy Trumm - The Trumm Team (Alliance Real Estate)

Thanks Troy! I'll check it out!

04/26/2008 09:52 AM

by Donna Matthews (Fischer Realtors)

Hello Donna,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

04/26/2008 03:51 PM

by Keith Elliott Jr -"Prince William County Real Estate Expert" (RE/MAX Olympic Realty)

I agree! I sent invites to newer agents in my office. What a great resource!

04/26/2008 03:55 PM

by Donna Matthews (Fischer Realtors)

Hey Donna!

Welcome to Active Rain! This is a great forum, both for learning, and for sharing. It's very addictive, so watch out! Go check out some of the groups that exist, and enjoy the many varieties of blogs.

I look forward to seeing what you have to blog about in the future! I really like your take on BPOs here.

04/26/2008 11:04 PM

by Bill Kennedy - Greenville SC Realtor (Keller Williams Realty Greenville Central)

Donna - Welcome to the Rain, make sure that you browse the site and become familiar with everything this site has to offer. The more you browse the more you will learn. I have found this site to be really helpful to me. If you have any questions, please don't hesitate to email me, I will do whatever I can to help.

http://www.doreneshirley.com/

04/27/2008 06:13 AM

by The Mortgage & Property Connection

I see that you are new to Active Rain and I just wanted to welcome you.

I hope that you enjoy it as much as I do and that you find it a great resource.

04/28/2008 03:09 PM

by Peg Gilliland - GRI, REALTOR® (RE/MAX Assured Properties)