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Having Fun with BPO Reports?

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

 

Has this happened to you.  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...the order has been canceled and I am left holding a finished report, the cost of the gas to do it and the cost of the labor to prepare it.  What a bummer

 

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?  I choose not to work with that company more.

 

 

Having Fun with BPO Rports?

Roy Kelley
Retired - Gaithersburg, MD

Be careful.  Some of the BPO companies have gone out of business and have left the brokers out in the cold.

Jan 27, 2013 10:00 AM
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide
Ouch, sorry to hear this. Was considering doing some but if it is like that than I'd forget it. Have you had success in the past doing BPO's?
Jan 27, 2013 10:33 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Ginger, I have stopped doing BPO's about 3 years ago.  If they would pay a decent amount for the time involved, I would consider doing them again and going through their ridiculous further questions, but it would take more than $50.

Jan 27, 2013 07:34 PM
Ginger Harper
Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

I agree with you Gabe..  I think that it is a waste of my time.  What it does do...is give me an opportunity to learn other areas of the county...Which is a good thing.

Jan 27, 2013 09:19 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Ginger...call me let's chat about BPO issues. I traveled down the road to do an interior. The owner was the contact, but a preservation company had already been there, determined the house was vacant and rekeyed and put a lockbox on the house. I took exterior pictures. The order was on hold forever and finally cancelled. I don't get a dime for going out and doing what I did. Now some companies work better than that. I did something like 345 BPOs last year. I would love to chat and share stories and other information with you. I also feel like they are requiring more information and more pictures, but they don't want to pay anymore.

Jan 27, 2013 09:20 PM
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Ginger  I do a lot of market analysis for a bank and one BPO company that I have had a good relationship with for a couple of years.  National Field Representatives has been good to me.  I really have no interest in taking on more but I just did one for another bank earlier this month.  Other than Evaluation Solutions or whatever they called themselves I have never not been paid!

Jan 29, 2013 07:47 AM