Here's What You Can Do With Your "Drive by" BPO!
I just was paid for one, a drive-by only 22 miles from my office. I negotiated hard and agreen on $90 only because my name was given to the Asset company by a peer I respect. It took just short of 8 hours, was rejected once, because I didn't use comparables within the sold time frame. There wern't any, a rural area, very small population and unique property. I stopped doing bpos after doing one that I was not paid. I don't work for free, I don't expect the agents in my office work for free. Thanks I needed to say that.
We all get them. You know, calls from evaluation or foreclosure services that want a "simple drive by BPO"? For you folks not in the business, BPO stands for brokers price opinion.
I've done these forever and they use to really be "drive by" and I could send in my "opinion" of market value on one sheet of paper I typed myself and I was paid a whopping $35.00 and sometimes I even hit the big time and got $50.00.
The money was o.k. because I only had to drive by and tell them what I thought that house should sell for if it were to be listed.
NOW. Now I want to scream at the person on the other end of the phone that calls and asks for a "simple drive by". Who are they trying to kid? Their simple drive by's are not requiring 3 sold comparables and 3 listing comparables plus repair estimates and current market data. Oh I forgot......and photos.
In other words they want a full appraisal and they want it for $35.00 or $50.00 and sometime if you bargain hard enough they'll pay $100.00. Grrrrr...........
Call it a "simple drive by" all you want but my answer is still going to be NO. An appraisal is an appraisal is an appraisal. If you can find someone in the appraisal business to give you an appraisal for $100.00 then I want their phone number!
O.k. rant is over.
My question is, are you still doing these "drive by BPO's" and if so, how much are you demanding?
Dear e(you don't)val(ue) my time services, call me and I'll tell you want you can do with your "simple drive by BPO".
HAPPY TRAILS, Y'ALL.........
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