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It is definitely true that some BPO (and even REO and Asset Management) companies have either closed their doors to accepting new BPO vendor applications or will still let you apply but it may be quite some time until you hear back from them with your first BPO order.
The ironic thing is that I had experienced this too when I first got into the business over 2 years ago. The difference with me is that I didn't take their "We are currently not accepting new vendors at this time," as if it were set in stone. To prove this point I signed up with FARVV about 2 years ago when I was signing up for multiple other companies and I received an email from them 1 year after I registered asking if I still wanting to work for them....crazy huh!
Some of the same companies that are still turning away new people even turned me away 2 years ago when I tried to register with them. That didn't stop me though, because I have worked with over 30 different BPO, REO and Asset management companies in the 2+ years that I have been doing BPO's full-time.
Here are the Top 3 Reasons that I've found as to why they may not be accepting new vendors:
1. Too many new people applying and they are overloaded....it would just be a matter of time before they'd get to you, but it could take quite awhile (It helped me to follow up with them by calling them after submitting my application and checking in with them about what I was facing and what to expect. By doing this extra step I received work the same day I'd call in. This little but very necessary follow-up sure helped me stand out from others.
2. The person applying simply does not have enough experience or time in the business. Some companies required that I have at least 2 years in the real estate and/or the BPO & REO business, while others required that their agents have REO listing experience in order to join their company as a BPO/REO vendor. (Some companies focus on having a selling point in that they do not have inexperienced vendors working for them so that their potential clients that would give them BPO/REO work over another company that may not be as strict)
3. The companies are happy with their existing relationships that they have with their current vendors and are satisfied (enough) with the quality of work that they are doing for them. Plus, it is always harder to start from scratch by working with someone new where they don't know what type of track record or accountability a new vendor offers.
To wrap this up, you can't wait for the various companies to call or email you. You've got to be proactive and go out there to get business. Just like you do in your real estate sales side. Plus as I am sure you are already aware of both industries are highly competitive thus anything you can do to stand out from your competitors is bound to get you closer to what you are working hard to achieve.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.