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BPO, anyone?

By
Real Estate Agent with H2 Properties

BPO

Within a couple days of signing up for multiple BPO companies online, I have already received two BPO orders.  The first, which I didn't accept in time, was given to another agent in my area.  The second, I received today and just so happened to be online when I received the email and had time to accept it.  It's also a beautiful lakefront estate that was on the market three years ago for $2,850,000!  

WHAT DO I DO NOW?  

Eh, it's pretty self-explanatory, so I don't think I really need help.  My broker-in-charge is actually a prominent foreclosure/REO agent in my area, so I have help if needed.  

I know the BPO subject is iffy to many agents.  It can certainly be considered a waste of time and effort but in my BIC's case, it has most certainly paid off.  I know this doesn't mean I'm going to get a $2-$3million listing; it could just be an owner refinancing or something.  

Please share any of your thoughts, suggestions, or FAQ with me.  I'd love to hear it.

Comments(6)

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Angelia Garcia
Pure Realtors - Dallas, TX


Congrats on your first BPO. I hope it is worth it.

Aug 29, 2008 04:20 PM
Mike Wong
Keller Williams Realty Southwest - Sugar Land, TX
Realtor: Commercial, Residential, Leasing, Invest

Glad to hear you got started in BPOs so fast. It took me longer to get my first orders, Im sure because my area is saturated with BPO agents.

Aug 29, 2008 04:20 PM
Lanette Branch
Taylor Properties - Bel Air, MD
Bel Air, MD Real Estate Agent

Congrats on the BPO. Do you best and get it done on time!

I don't think there's a possibility of you getting the listing AND the BPO for the same property, though...

Aug 29, 2008 04:36 PM
Sherry Peckhoon Sim
Sims & Company - Cayucos, CA
Broker/Owner, Covering the Beautiful Central Coast

It took about a month before I received my first. Didn't know how to work it but I did, and was approved right away.  I was too late in accepting the second order and missed that to someone else.  We have fewer BPO orders in our area, but they are on the rise.

Aug 29, 2008 05:38 PM
Sasha Miletic - Windsor Real Estate
RE/MAX Preferred Realty Ltd. - Windsor, ON

Hi Floyd, Congrats on your first BPO. All the best for your future. Keep posting best.

Best - Sash

Aug 29, 2008 11:30 PM
P G
Charlottesville Solutions - Charlottesville, VA

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.

Aug 30, 2008 12:56 AM