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BPO'S GONE WRONG! Stories you need to read to believe.

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

If you complete BPO's maybe you can relate to what happens during the journey to get these BPO;s completed. if you do not complete them or have just started, you can learn from my experiences.

The most common Broker Price Opinion is called the driveby. it where you drive by the house, take a picture of the front, side, address and of the street. While doing this you need to assess if the house is occupied ior vacant and any damage that can be seen from the road. In theory this sounds like an easy task, right?

I try and complete 2-4 BPO's a day, i have completed as many as 13 in one day, i have completed that accomplishment 3 times. In my travels i have come accross alot of different scenarios and attacks. I have come up with some tips. Make sure you always drive by the house first, assess if anyone is outside and know where the roads leads. On deadend streets or cul de sacs, make sure your car is pointed back towards the main road, never take photos when your car is pointed towards the deadend or while occupants are outside. try and avoid contact with any occupant or owner. Do not trespass, stay out of their yard or driveway and never argue with them.

On some of the worst BPO trips i have ever had, i was pointed towards a dead end, took the pictures, and drove up to turn around when the home owner jumped in his pick up and tried to block me in. Luckily i was able to get around him and avoid a confrontation. I have had another gentleman who chased me cutting me off demanding answers of why i took a picture of his house. Luckily i had his bpo order printed and with me and told him to contact his bank as they had ordered it. I had a woman run up her driveway with a pitchfork as i took a picture of her farmhouse in a rural area, She was too far away to catch me on foot.  The scariest 2 were in rural areas where shot gun wielding homeowners came out to see why i was taking a picture. no shots, but near 2 heart attacks though.

The worst BPO experiences come from the interior ones, where i am given a code and have to inspect the interior. the last condo was bank owned, was listed with a local company and was vacant, the shades were all closed and the power was not turned on so it was dark. i walked in, put up the shades and felt tickling on my legs, took the pictures and headed towards the hallway, once outside in the light my legs were black with fleas, i stripped off my shoes and socks and bathed my legs in hand sanitizer, it stung like sitting on a bee hive. Now that listing agent had to know there was fleas and couldnt even warn me, and worse i had to call him for the code so he knew i would be entering.

The worst inspections are the ones where the house is filled with mold. i do have a breathing mask now as being affected time and time again with the affects of mold are not pleasant.

i am compiling pictures and will soon write another picture filled blog to share with you all.

Please feel free to add your experiences both good and bad

dated 10/10/2010

Blog Written by:

Scott Godzyk
Godzyk Realty Group

Manchester NH

Comments(8)

Kathie Burby
Coldwell Banker Mother Lode Real Estate - Sonora, CA
REALTOR, SFR, Tuolumne County Real Estate Guide

Scott - sounds as if you have enough stories for a short book! I too have had a couple of scary incidents doing BPOs. If someone is outside in the yard I do try to make contact and let them know I am there to take pictures of the exterior, most people are very understanding. Be careful out there!

Oct 10, 2010 12:08 PM
Barbara Le Pine
ADVANTAGE REAL ESTATE, serving Lincoln County - Newport, OR
Your agent for the Central Oregon Coast!

Scott, BPO's are not for the meek! They take time, effort and a careful choice of comps. In addition to your adventures, here is another one - a fellow agent that I know got a court document to sign, stating that they actually performed the BPO. This agent asked me if they should sign it, I said they should "ask a lawyer, not me!"

BPO's are great for knowing your market. There are alot of different opinions out there, alot of agents think only appraisers should do them, but I think that as long as the BPO is accompanied by a written statement that the BPO company signs from the agent that the BPO is not an appraisal, but is a current market analysis for the purpose of securing a listing and not to be used in a court of law as an appraisal, (it is just a CMA like we do for our listing clients,) I think it is a good way to know your market inside and out.  You likely won't receive REO listings if you do not do BPO's. Great post.

Oct 10, 2010 12:17 PM
Heidi Hovatter - Sonora & Twain Harte
Century 21 Wildwood - Selling Homes and Cabins in Tuolumne County - Sonora, CA
Heidi The Home Hunter

I am in a rural area so it is always an adventure.  I make sure I have exact directions because it is really bad if I drive 30 minutes and can't find the house I am looking for.

Oct 10, 2010 01:04 PM
John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

I haven't been confronted yet for taking pictures of someones house as of yet.  I am sure one day it will happen thanks for the tips.

Oct 10, 2010 05:17 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Kathie i try to avoid home owners at all cost. I have not had one that has understood why i was taking a picture of their house and been alright with it. The only time i risk taking a picture with a person around, is if i am a good distance away form my office or in an area i will not be back in that day. Other than that going to get a coffee or sitting down the road is better than a confrontation

Oct 13, 2010 06:50 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Barbara it is common for banks to ask you check a box on their online form that you indeed visitied teh house to take the picture and completed the bpo. The reason is agents are advertising online for others to take the pictures for them and email them to them. That defeats the reason the bank is having an agent go look at the property, assess if vacant or occupied and if there is any damage.  Thanks for your comment

Oct 13, 2010 06:52 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Heidi rural areas always add an extra adventure on top of the adventure of just driving by these homes. I have found more dirt roads, horse trails and logging trails thanks to my gps than i care to ever see again. i always print directions or a past listing sheet for back up. Most rural houses dont have addresses on them nevermond street signs on some roads.

Oct 13, 2010 06:54 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

John it is not if, it is when... hopfully it is much later for you than earlier...

Oct 13, 2010 06:55 AM