BPO (Broker Price Opinion) Simplified!
The foundation of REO (Real Estate Owned) process is the BPO (Broker Price Opinion)?
The first step is the perfecting the BPO process, without this process there will not be a second step.
While completing the BPO, the Broker has to be concise, accurate, and complete.
When accepting a BPO, timelines completions are mandatory, if the outsourcer demands a completion date of 72 hours, complete the BPO early. DO NOT request an extension unless you have a situation that is a hardship.
Remember, if you cannot complete all tasks on-line on-time, it is better not to accept the BPO, the lenders/banks/outsourcers will understand that scenario better than an incomplete and/or late BPO.
First impressions or the first BPO are extremely important, this may be the only time that you receive the opportunity to perform a BPO, DO NOT make a mistake, it may your only opportunity!!
James A. Browning MRE, CEC, REOCertifed(R), SFR
CEO, REO Institute
National, Speaker/Educator/Trainer
Author, Best Selling: BPO & REO Simplified, "How to Work With Asset Managers"!
To purchase the book ($10.95), (cost of 2 starbucks coffee), go to www.REOInstituteColorado.com and click online store
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