Question and Answer Session: Commercial BPO’s

By
Real Estate Technology with BPO Automation Group & BPO University

Question:

Hi Nicole, Do you offer Commercial BPO Training? If yes, how much to enroll? If not, can you refer me to a company or person who does? Thanks, Ricky in the Bay Area, CA

Answer:

Hello Ricky,

Thank you very much for reaching out and for your question.

Unfortunately we don’t offer training on Commercial BPO’s.

Here’s what I do know:

- You need to be a commercial real estate agent as your speciality. You should be experienced and have an accreditation. 

- You may have to use a totally different MLS or website that shows commercial properties.

- The fee is higher for commercial BPO reports because it is more specialized and the reports are longer and more involved than doing a BPO on a house or a condo. 

- There are difficult financial questions on commercial reports where you need to know what they all mean.

I have done 1 or 2 commercial BPO orders back when I was active in real estate but quickly learned that they are a whole other animal and I didn’t have proper training to provide a quality report.

So, if you aren’t experienced see if your local MLS offers a class where you can get clock hours or a designation.

If you are interested in doing residential BPO’s a lot of the same companies that you’d do “regular” BPO reports for also offer commercial, if you are experienced. They may require a certification as well BUT these companies don’t have the same issues for folks that want to do residential work.

I’d suggest starting with residential if you don’t already, get educated on commercial and over time you will be a well armed agent that can do anything.

My education company, BPO University specializes in residential and multi-family BPO training. There used to be good training available on commercial BPO’s but I don’t see any anymore, except for if you are signed up with a company like Clear Capital. They likely provide training within their website but you have to an active vendor with them.

Our website is: www.bpo-university.com

Also, my software company BPO Automation Group helps agents and brokers automate residential and multi-family BPO and REO reports.

That website address is: www.bpo-Automation.com

I hope this email has been helpful! Best wishes to you!

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Nicole Ocean

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