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I recently joined this BPO/REO company. I have gotten bombarded with BPO's that they want done for no payment but promise listings. They come back after I send a BPO and challenge a prior BPO. I get the feeling I am just providing a 2nd opinion?

If anyone can share their experience I would greatly appreciate it!

Leslie Hansen, Broker
Moving Jacksonville Real Estate

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USRES does 3-4 BOPs on each property
Interesting, thank you for your input!
I joined Res.net back in September, I have been patiently waiting for any type of assignments. We are swamped with Agents in my part of the country. Any suggestions?
Hi Leslie,

We've done a number of free BPO's for USRes. I believe you have to do at least 10 BPO's before you are eligible for any REO Listings. We did 10 BPO's and did receive 1 Listing which is now Pending Sale and due to close soon.

I would recommend that after you do 10 BPO's you contact USRes and ask about receiving REO Assignments as well.

So far, everyone we've worked with at USRes has been great to deal with. I believe that USRes is also the owner of the Res.Net platform.

We will continue to do BPO's for them and do believe that we will see more listings.

Good luck!
I did 12 free bpos for USRes with great reviews. I was told that the work was great and I put a lot of time into each one, researched any additional info about the area, etc. I know my values were right on. I was also given the line about being up for listings, etc.
I received bpos from USRes regularly until September. At that time, I performed a bpo and had it come back (the first one ever questioned). I explained my values in great detail (went over each comp used and why it was the best, condition of the property, run down apartment building across the street, neighbor with their "livingroom" on the front porch, etc) They came back saying that my value was too high and sent me the previous bpo that had been done 6 months previous. This bpo was incredibly messed up - the agent used foreclosures (even though they specifically instruct you not to) that had closed well past the allowable comp period but were then relisted as flips. However the agent used the foreclosure sale price (again, outside of allowable time frame) but used the sale date from the flipped sale. Several other comps were short sales even though there were non-distressed sales available which is what I had been requested to use. Anyway, to make a long story short, I spent hours detailing all of this and explaining the value. I did this while caring for a family member in the hospital who was seriously ill because I really hoped for future business from USRes. I haven't heard from them since.
Hi Leslie,

I guess I'm the lucky one. I only did 1 BPO for USRES and received a REO listing the following month. In the meantime, I have completed 7 additional BPOs for them. Hopefully more listings are to come. The only issue I have is with their reimbursement policy. I have definitely learned a few lessons.

Good Luck!
I've done paid BPOs for USRES and I've done free ones. They provided 1 listing before I ever did my first BPO. That sale went through flawlessly, and I haven't had a listing since (1.5 yrs ago). They were great to work with. Not sure why things fell off.
I have done work for them in the past and you will receive lstings.
Thanks for your response, Shane.

I have now done 16 with no REO's, however I am tracking the ones I have done, and none have been given to someone else. I know it can't be I'm not doing a great job since I started BPO's 24 years ago, it is hopefully just that there have been no opportunities in my area. One USRes rep said I would get the next one that comes available.
keep doing them and you will get a listing. theres no inventory right now especially with christmas right around the corner ...

I assure you they are a legit company and great to work for!

ask for more bpos because the more bpos you do the MORE reos you get!
Thanks Sarah,

Everyone one has been such great help on this site, I love it!
I've completed around 5 BPO's for them and received 3 of the listings. When you are doing BPO's for them it is a good idea to ask the person assigning them to put a "little gold star" in their file for you. Then when they do look for agents if you have a internal recommendation on your work you will have more of a chance.

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