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Just got my first BPO assingment

After spending a whole evening one night a few weeks ago filling out lots of application forms for various BPO/REO company websites, I finally recieved a BPO lead that was sent to my phone. I have recieved a few from another company via email, but if I was even 5 minutes late getting to it, the opp was gone.

So when I got this one to my phone i relieved i have the net on my cell, so I could at least get a fighting chance at this one. And luckily I got it.

It pays $85. That's not the imoprtant part though. I understand this company gives you some BPOs grade you and if you do good by them they consider you for their REOs.

So i'm off to take some pictures and do a quick CMA tomorrow.

I'm actually kind of nervous, as I have never done one for a bank before and used to presenting my CMA to potential clients. At the same time they are pretty good about telling you what information they are looking for up front. So hopefully it's not too hard for me to screw up.

Well folks, wish me luck and a great big thanks to Stacie Cunningham and all her very helpful blogs.

Posted by Andrew Baumbach Greater Milwaukee Real Estate on 05/21/2008 07:46 PM

Comments (6)

bpos, reos

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6 Comments on Just got my first BPO assingment

Good luck. They always (at least the ones I've seen) have a fill in the blank form of what information they need. They are a little tedious at first but once you 'get' their system down you can complete them fairly quickly. Good luck.

05/21/2008 07:50 PM

by Cape Coral Real Estate Broker | Susan Milner | Florida-Future-Realty.com (Florida Future Realty, Inc.)

Good for you - it's that kind of thinking that keeps the good agents in business. BPO's are tedious, but looking at the big picture is smart. Also, don't be afraid to make recommendations of what's needed to get the property in a good selling position...grass mowed, interior cleaned, outside pressure washed, etc. Some companies would rather reduce the price than do any work, but with the competition out there today, a little effort can go a long way.

Good luck - hope you get it.

05/21/2008 07:57 PM

by Laury Gardner (Keller Williams Realty - Community Partners)

It looks like the BPO I am working on is for a Condo Short Sale.

05/21/2008 08:00 PM

by Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty)

BPO, REO, and maybe property management certainly can create a meaningful business. However, I would certainly miss the people, client relationships that can develop outside of that area.

05/21/2008 08:13 PM

by Dwight Puntigan (Century 21 Luetkenhaus)

Andrew

Good for you; keep up the good work.

Sincerely

Tom Braatz

05/22/2008 10:34 AM

by Tom Braatz, South Eastern Wisconsin (Tom Braatz)

Good luck Andrew. You will do a great job. They usually have web based fill in the blank forms.

05/22/2008 12:30 PM

by Richard Ives (RE/MAX AT HOME)

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