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BPO Slow-Down - Anyone Else Seeing This?

By Todd & Devona Garrigus

Real Estate Broker/Owner with Garrigus Real Estate CalBRE# 01844442/01844441

September 01, 2010 09:46 AM

BPO Slow-Down - Anyone Else Seeing This?

We try to keep a steady flow and cycle of BPOs coming in through our office. In fact, we work with a few companies simultaneously. But as of the middle of August we have really seen a slow-down of BPO requests from all of the companies we work with.

We're pretty darn sure its not related to our quality of BPO processing- We have high standards for ourselves regarding BPOs.

So We thought we'd ask you, the ActiveRain community what your experience has been of late. Have you seen a slow-down? Or is it just us?

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Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Todd, I noticed the opposite, increase in this area, also the time lines have been shorter, they want it instantly

Sep 01, 2010 09:48 AM

Martin E. Kalisker, Esq.

Natick, MA

Real Estate Law From A Practical Perspective

We are experiencing a steady growth of BPOs as the companies no longer allow non-verified agents to do the work for brokers, etc. Also, the BPO companies are looking more closely at the distance that suppposed BPO experts have to travel to a specific location. All too many of these "warehouse BPO shops" do the work from a desktop and use satellite images of the home or pay a local kid to take the address verification photos. I've seen it happen.

Sep 01, 2010 11:01 AM

Alan Bruzee

Long & Foster Real Estate, Inc. - Rockville, MD

The BPOs remain steady accoring to the agents I talk to.

Sep 03, 2010 10:39 AM

Laura Resnick

RE/MAX Associates West Bartlett, Il. 60103 - Carol Stream, IL

Carol Stream, IL 630-975-0615, RE/MAX Unlimited

I have seen a significant decrease in bpo's. I have asked many times if there is a problem and have been told that there have not been many in my area. I had many in July and a smattering since. It has made a difference in my income, that is for sure

Oct 11, 2010 03:31 PM

Anonymous

Garret Snyder

I have seen a real slowdown in BPO's in my area. One or two here or there.

Oct 14, 2010 10:30 AM

Melissa Royal

HomeSmart - Phoenix, AZ

I have seen a huge decline in my area, nearly 1/3 of what I was doing last year. Especially on Fannie Mae products. I have also seen a slowing in REO listings. However, it seems we still have just as many defaults in our area, so I can not get to the bottom of it...

Jun 29, 2011 11:06 AM

BPO Slow-Down - Anyone Else Seeing This?

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Todd & Devona Garrigus

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