Whether it be life, love or business....I have found that everything happens in cycles.
For anyone to excel at the later the first place to start is to take the time to:
* Do Your Research
* Educate Yourself
* Take a Hard Look at Your Own Personal Track Record
* Admit What Doesn't Work
* Then Move Forward with a Plan in Hand.
When I first got started in the Broker Price Opinion business in September 2006, I noticed that I was doing the majority of BPO orders on properties that were:
1. For HELOC or Refi's
2. Removal of Private Mortgage Insurance
I didn't come across a lot of BPO orders on properties that were facing, pre-foreclosure, foreclosure, short-sale or any other distressed situation.
This changed drastically and as of mid to late 2007, distressed properties were the main reason for BPO orders that I completed. Plus, my volume jumped up to over double the amount that I had to do when the real estate market and economy was healthier.
I won't hesitate to say with strong assurance that a new cycle is bound to happen again very soon!
Thanks for listening,
Nicole Ocean
Certified Real Estate Instructor/Founder of BPO University
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