REO's and BPO's ~ Is it worth doing them?

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

 

 

Is it worth it to do the BPO's and REO's now.

 

I would like for someone to share with me, how to hook up with the lenders that will work with me on

foreclosures and short sales.

 

Seems like some agents get all of that business and I want to learn how to break into that market.

I will be taking the short sale course soon and want to be successful in the depressed market along

the North Carolina coast...

 

Thanks for any help.

 

Ginger Harper

Coldwell Banker Sea Coast Realty

800-346-7671

Comments (2)

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have been asked to do these and did a few but not worth the $50 -$75 I am offered.  The few times I did them some years back I never got paid.

Dec 02, 2016 01:12 PM
Michael Wilson
Michael Wilson Realty, LLC. - Buffalo, NY
17 years experience in the REO/BPO business

I own a Real Estate Brokerage that just services REO/BPO business.  We have been doing it for about 17 years. For the bulk of that time we have sold 200+ foreclosures per year and do 5000+ BPO's per year.  Over the past few years we have been doing more and more inspections.  Those pay between $15 and $30 each not alot for someone doing 10 to 20 a week but last year we did about 12,000.  These are inspections for many things not just properties. It has been a great business model for me.  We have 2 showing agents that are always busy. We have 6 assistants, 3 people on the road taking pictures an accountant and me. It took a few years to build up the business but it has been successful and FUN.

Jan 13, 2017 12:37 PM