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Is it getting harder to please the BPO people?

By
Real Estate Agent with Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team 93383

 


I don't know about you all, but I am having a harder time pleasing the BPO  folks.  I am giving them  factual information based on our local MLS and the figures tell the truth.  They are wanting us to go back and get closer comparable properties  When nothing has sold in that area you must go outside that community to find comparable to do the analysis.  

I am also finding, after I have done the work...they order has been canceled.

 

Then, we have spent our time and energy to do the work and will not be compensated for it.

What do you do with this scenario?

 

Ginger of Southport

 

Show All Comments
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

I quit doing BPOs. The requirements kept going up, the fees going down, and the turnaround on payment getting longer. Life's too short.

Mar 11, 2011 12:49 PM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

I stopped doing BPO's for the same nonsense.

Mar 11, 2011 01:08 PM
David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City

You are the professional that they are requesting the value from. My response is, as every appraiser does, the "COMPARABLES SELECTED ARE THE MOST COMPARABLE OF ALL THOSE AVAILABLE FOR CONSIDERATION. EACH WAS ADJUSTED, AS NECESSARY, FOR DIFFERENCES IN PHYSICAL CHARACTERISTICS AS NECESSARY".

If you don't have the seniority to pull this off, then: Current makret conditions limit the availability of more comparable properties.

 

Give it a try, its only small money.

Mar 11, 2011 01:17 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I agree with the ones that say life is to short. Let them hire professional appraisers. There is ONE company I still do them for because all they ask for is 3 solds.

Mar 11, 2011 01:41 PM
Suzanne Taylor
Ultima Real Estate - Corpus Christi - Corpus Christi, TX
Home Sales In Corpus Christi, TX

Ginger, I have to agree with the above comments, maybe it's time to let the BPO's go, life is too short.

Mar 13, 2011 03:11 PM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

I've only heard of horror stories with BPO's. I wont do them. I don't need more stress added to my life.

Apr 15, 2011 06:29 AM
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