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Bpo question

By Corry Shadle

Real Estate Agent with Magnolia Realty Services

January 28, 2009 03:46 PM

Do you need to be a broker to do bpo's?Is there a way to get into doing bpo's without buying the kits advertised?

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Michael Zebold

Miami Public Adjusters - Coral Gables, FL

Yes... It is a "Brokers Prices Opinion” Keyword Broker. But I will only speak for my state of Florida. I guess ultimately you would have to check your state laws.

Jan 28, 2009 03:55 PM

Michael Zebold

Miami Public Adjusters - Coral Gables, FL

Holy Crap..I am sorry.. I guess you can not copy and paste from MS WORD.. Im really sorry about the above comment.

Original Comment.

Yes... It is a "Brokers Prices Opinion” Keyword Broker. But I will only speak for my state of Florida. I guess ultimately you would have to check your state laws.

Jan 28, 2009 03:57 PM

Corry Shadle

Magnolia Realty Services - Elizabethville, PA

I am from pa ! I will check into it Most of the bank owned listings in my area are from to brokers I have represented buyers on bank owned listings and the brokers that had the listings were horrible to deal with.The banks are not getting their best service from these guys.

Jan 28, 2009 04:04 PM

Patty Luther

RE/MAX Rock-n-Roll Realty - Lewiston, ID

Lewiston ID Real Estate, Idaho-Washington

I don't believe you have to be a Broker to do BPO's, but the Broker is the one PAID, then he would give you your share ... and I have never heard of the KITS you are talking about ... but I learned early in this business ... most of that stuff is a waste of money ... especially if you don't implement it! I have a few companies you can get signed up with. let me know if you would like them, but most of them are listed in my BLOG below...

http://activerain.com/blogsview/737181/Handling-the-SALE-of-Foreclosures-REOs-Bank-Owned-Properties

many of the companies I have here have signup areas to begin doing BPO's I work for several of them... BPO's are a lot of work for the small fee... but you will eventually get the REO's ... and that is where the money is at now! I just listed an REO last Friday, LP $174,900 ~ 6% commision, I have to pay a 25% referral on the listing side ... but then the Bank/asset company offered a $2500 bonus to the selling Realtor that had an offer that closed by March 31, you can only imagine how hard I worked over the weekend to get that in contract! ~DONE~ offer price $171,900 closing on Friday the 13th of March! that is a great sale ... even for the buyers as the BANK offfered a 3% closing costs assistance with an owner occupied buyer and not only for my company, cause believe me, we can use the sale/closing! but for the BANK too .... the seller/Bank is so HAPPY to have this REO off there inventory ... it was listed with another Broker for almost 2 years ... and that is another story in itself...

patty

Jan 28, 2009 04:32 PM

Sheldon Neal

Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ

That British Agent Bergen County NJ

Hi Corry ! I do a number of BPOs here in NJ and I am not a broker. I think as mentioned above it may be different for each state. They are, however, a lot of work, for little loot !!!!

Whichever way you choose, best of luck, and good luck through the year here on ActiveRain !

Cheers !

Sheldon

Jan 29, 2009 02:55 PM

Corry Shadle

Magnolia Realty Services - Elizabethville, PA

I am just looking for something to pick up my sales. also i have an assistant so alot more time on my hands i am thinking if i can get into bpo's i could have her do the bulk of the work

Jan 29, 2009 03:13 PM

Regina P. Brown

MBA Broker Consultants - Carlsbad, CA

M.B.A., Broker, Instructor

Corry, there appears to be a problem with the first comment, you can delete it. No, you don't have to be a Broker to do a BPO, and neither do you need to buy a training kit, although it does help. Try www.TitaniumInc.com as they are hiring agents to do BPOs all across the U.S.

Jan 31, 2009 05:33 PM

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