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I'm located in Massachusetts and do BPOs for Altisource. I have not seen a request or order from Altisource in the past four weeks.
Has anyone else seen a decline in Altisource orders?
Have they gone to an AVM model?
Do you have any information you can share with us?
Yes they have changed their setup in alot of states - no more blasts for BPO's - only CMA's are sent out as a broadcast. Too competitive now
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I get emails and phone calls from Altisource now for a couple of months. The emails are sometimes sent just to me, sometimes to several people. If I catch a call, I can negotiate right over the phone. For me, they are usually quite a distance - rural but in my MLS. They ask how much and when. I am not getting any orders for my immediate urban/suburban Akron Ohio area. I'm doing more driving and less data entry but making more per order. They are mostly BPOs but also several CMAs.
Yes all that Altisource email blast, gravy train is over! Answer your email and phones fast and give a good price and turn time and you will do a lot of their orders for them...
Every request I got only offered $45. I ignored them. I probably could have negotiated a better price
but didn't want to bother. When they threatened everyone with being put on a do not use list if they
didn't submit some new requirements, I let them go.
Respectfully take this as constructive criticism, but it is a bad move on your part- they are, and will to be the largest player in the REO space ( Disclosure- I don't own any Ocwen stock) - by buying many pieces of the REO "channel " space through the years ( Altisource, Realtrans, Equator..etc) they are trying be a player in every aspect of the property life cycle/ REO food chain -
I don' think its hard to re-invest the time to be current and up to date with current vendors, it will pay off eventually
It's not just updating profile, etc. Ocwen/Altisource will list with you, let you do the work then pull the listing
even if you have a cash buyer. They mess with the commissions. They are not as good to work with as they used to be. I'm not the only agent in my area to feel this way. Maybe if they lose enough good agents they'll
try to improve. Then they might get us back.
Edd, I don't mean to be disrespectful, but BPOs will not "pay off eventually." Agents doing BPOs are wasting their time, skills and why they got a got a RE license.
It's like fishing on the bottom of the lake.
I think Ed is talking about the fact that Altisource makes agents re-certify every April/May/June and the fact that you have to make them a certificate holder on your Errors and Omissions Insurance..
Decline here too, only getting CMA blasts and emails for BPOs outside of my area. I've also gotten listings offered 3hrs from my area..had to pass on those.
My sources within tell me they are using some sort of hybrid Trulia/Zillow/ + desktop AVM to do a BPO and they will need a real agent to do a Interior CMA...we will all see how long that lasts
In MN I am seeing orders/requests in my area daily from Altisource. Exterior orders and CMA's. Some are email blasts and some are personal calls or direct emails. I know that a few months back they changed to a grade system on the fees you ask for, time and quality of the order. I have not seen much of a change in flow here.