BPO ORDERS MORE THAN DOUBLE

By
Education & Training with Silver Lining Workshops

In the last three days my BPO orders have more than doubled.  Contrary to the media coverage of REALTYtrac's latest numbers lenders are going full speed ahead in 2011 with foreclosures.   If you think the first two shadow inventories were bad wait for this next round to hit.  

Today I have been asked to do 7 BPO's by 3 different vendors and got a call from a new vendor who found me on Trulia and sent me an application to become one of their prefered providers. 

Get your name out there and make sure everyone knows you provide this service.  Are you on Facebook, Linkedin, Trulia, Zillow, REALTOR.com, etc with a profile that offers your BPO and REO Services?  Do you have a blog site that offers information on REO statistics in your services area?  If not you are passing up a huge chunk of business. Go do something productive and get out of your office it will pay off in the end.  Even a $45.00 BPO is more than you are making right now sitting there reading this blog! 

Comments (3)

David Cox, Broker/Owner*coxre.com*303.921.3908
Cox Real Estate Group - Highlands Ranch, CO

A good BPO takes time and it's hard to make it feel like a good business decision at $45. Of course, bad BPO's are killing us when dealing with the banks, so I feel the importance of taking the time to do it right, verses some yahoo who's been a real estate agent for 15 minutes and spends about that much time working up their BPO's. Sorry for venting, it's just another case of the banks being penny wise and pound foolish. I didn't mean to take it out on you.

Dec 16, 2010 09:30 AM
C.J. Johnson
Silver Lining Workshops - Tehachapi, CA

No worries I don't take venting personal that's why I post. When you are working within your area of expertise is should not take more than an hour to do a good BPO if you use the right software which is what takes all the time when you have to fill in 3 bedroom, 2 bath, year built, square footage etc.  Most bad BPO's are a result of agents working outside what they know.  Same as bad agents who take Short Sale listings that don't have a clue what a true hardship is and flood our market with bogus listings.  See I vent too.

Dec 16, 2010 09:39 AM
Sally Lawrence
Advantage Real Estate - Tehachapi, CA
Broker, CHS, e-Pro, SFR, REALTOR®

Venting aside... I actually like doing BPOs if I have some free time available when the offers come in.  I think it's a good way to stay on top of the market.  Periodically, I come across listings that may have slipped into the back of my consciousness when doing BPOs.  Keeps things fresh. 

Dec 18, 2010 05:37 AM