I am passing this information on to Real Estate Professionals who are interested in performing Commercial BPOs/BOVs, Thanks, James
Commercial BOV and REO assignments are finally coming to market in quantity now.
We have been contacted by several companies that have Assignments for Commercial Real Estate Agents and have asked
the Assistance of CREOBA to fill these assignments.
The largest residential BPO Company in the US is now gearing up to perform Commercial BPO aka BOVs.
They have asked us to have all our members join their Network by registering on their website.
The Company name is Clear Capital, www.ClearCapital.com THERE IS NO COST TO REGISTER.
When you register, they have asked our members to place the word, "CREOBA" before your Company Name. This is how they will be able to locate you. You will be given priority of assignments because they know our members have taken Commercial BPO aka BOV classes.
They also want to know that you have access to a paid website that has listings and closed sales Comps. Be sure that you tell them you have access to Loopnet.com which has a FREE and a paid subscription. The cost if you wish to pay for the subscription is only about $50/month. The best source for commercial Comps is COSTAR.com. This service can cost several hundred $/month depending on your service area and asset classes. Don't tell them you have COSTAR unless you have access or are willing to buy the access if you receive a BOV Assignment. They may ask you to pull a comp and email it to them that has COSTAR'S name on it. They have told me that Loopnet access although not as good is acceptable to them. You can also get comps from Cityfeet.com which is owned by loopnet.com.
Clear Capital believes that they are on the verge of receiving a contract for 1,000 BOV's or more from several different banks so there will be plenty of BOVs for everyone.
Also be sure to mention in your BIO that you have taken the CREOBA BOV 101 Basic course and any of the Advanced BOV 201, 202, 203 courses for Multi-Family, Retail, and Office etc. as the case may be.
Clear Capital has said that the CREOBA members will receive preference in being given assignments as long as you follow these directions.
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