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The trend in the BPO industry seems to be background checks. Not only do they want a background check they want the agent to pay for it. I personally have no issues with someone doing a background check on me. It just doesn't seem right for me to have to pay for it. Anyone else experiencing this.
My understanding is all these companies dealing with BoA ? need to go through a background check. There has been so many fraudulent incidents. If you signed up with several you need to go through all of them. If you decline they just remove your name leaving with still more brokers who signed up than they have work for.
I agree Sam, there are tons of REALTORS willing to do the work. My problem has always been that I do BPOs to get REOs. It isn't my REO clients who want the check, it's the BPO providers. And again, I don't mind if they do a background check. I'm just not going to pay for it.
I've only had Corelogic wanting to charge so far....I filled out a form for another (wish I could remember which one),no charge......wish they would let us get one and use it like we do an E & O certificate, I know we'd have to pay for it,but I'd be a bit more trusting that they really want it for the purpose intended and not just to get money.....doesn't sound like much,but if you add up all the agents it will be quite a bit for these companys.. Wouldn't we be intitled to a copy so we could use it with all the companys?....I know,I know....just pay and go on,right?
But they don't bother to check with the state to see if licenses have been suspended or disciplined at all.
I recently paid for a background check because Corelogic was requesting one. You do have the option of receiving a copy, by checking a box.
i got my copy. PTL I am not a felon or a convicted sex offender! Whoo hoo! I was SO worried.
I'm tired of hearing "We're excited, we have just been informed we have a new client with volumes of BPOs coming onboard" "You will need to have a background check for this "new" account". I have gotten this request from almost EVERY BPO mill I deal with. Wow, I'm thinking the market is about to crash again. Otherwise where is this work coming from? Ya Right! Want to buy a bridge in Arizona? I was involved in QC for a very large company. Years ago there was a new quality standard called ISO 9000. The implementation of this program would cost over $100000 for a mid size company. The genius of this program was for that company to be registered EVERYONE OF THEIR SUPPLIERS HAD TO BE REGISTERED. What a pyramid scheme. It's the same old thing again. It will not rid the industry of anything but our money going to the genius that thought this up, and you better believe, there are "payouts" going all over the place.
We, as professionals, need to do a few things. 1. STOP doing BPO's for the pittance they pay! Raise our fees back to where they were 10 years ago, at a minimum. THE LENDERS HAVE NOT LOWERED WHAT THEY CHARGE THEIR CLIENTS just look at your short sale and foreclosure owners cost sheets. You will see at least one and in some cases 3 and 4 fees of around $150 for the BPO's. Who is getting that money? 2. Find out if these "requiring parties" even exist. If they are lenders, which they must be, AND STOP placing any loans with them. Their survival is in OUR hands not visa versa. 3. Also stop doing BPOs for those BPO mills that are requiring this "background" check. Just refuse to get the background check. Without us professional all they will have left is the bottom feeders which are NOT really doing them. I know for a fact that many BPO providing agents in my area look at these BPO opportunities as a great opportunity for the wife or teenager to handle!!!
I recently got a call from one of my BPO clients with a rush assignment. I had previously decided not to have the background check done based on principal. Anyway, when they called I informed them I couldn't do this BPO for them because I didn't have the back ground check done and wasn't going to either. I was told to go ahead and do it and they would get a "special waiver" from the client! Either you need it or you don't.
One last comment. The days, at least for most of us, of doing BPOs to get listings is over. The asset managers realized they can charge us a "sign up" fee to become a platinum member?
Go to www.revaa.org Then read everything about them. How big is the organization? I see 1-a director 2-a communications manager. That's it! They also list a consultant and a legal representative but they do not appear to be exclusive to revaa. With this force how many hundreds and hundreds of thousands of dollars are they costing us in background checks? Now go to the membership and see how many lenders are members? 0 NONE!!! The only members are BPO providers. The same ones that are saying no background check no BPOs. My guess is somewhere within these groups there is a very real connection to a financial flow of the background checks cost. Take that cost of $40 for each background check and then realize these same BPO providers that are members of the same REVAA organization AND THEY EACH WANT AN INDEPENDENT BACKGROUND CHECK !!!! SOMETHING SEEMS TO BE VERY VERY WRONG!!
Yes I have been asked by one company that i only do a few bpo's I said why, if I do it what company is it that wants it. They got back to me and said could not tell confidential........well I believe my information is also confidential I am a Licensed Broker of Record in NJ with all the credentials necessary to do a bpo.........
He then told me how about if they pay for it I said no ..............Next we got notified by the New Jersey Association of Realtors as of October 23, 2013 we lost the Court case only licensed appraisors can do bpo s in NJ ..We are still fighting this now.......................
I have worked for one company only and that is the one you mention since 2009.....now we get hit with this..........I liked my little extra business it actually kept me in the value market ............I know I am good at this and highly rated by this company............
Yes I have...I keep getting a pop-up window that says they require a background check, but allows me to do ther work without it, also states I would get more work if I did...This is all such B.S...another way to get more money. I'm not doing it.
This reeks with being a possible scheme. Go to www.revaa.org check out how big the organization is that is driving this. (2) people. Then check out the membership of this "organization" ALL BPO mills. Interestingly Kelly is/was heavily involved with the Appraisal industry. Most appraisers would love to stop our BPO involvement as its taking lots of opportunities from them.Hmmmmmmm? Now check out the FAIR Coalition Which has spoken n behalf of. not sure of his actual connection but to speak on behalf of both REVAA and FAIR (Coalition to Facilitate Appraisal Integrity Reform)
I would love to trace where all this background money ends up. Would like to know ownership and relationships of these background companies. It's just illogical that ALL the bpo mills that are requiring these background checks are all members of the same organization that is advocating them and one check won't satisfy them all. It's even crazier that our licensing, complete with finger print check, isn't as good as a internet background check? That's plain stupid. We have E&O insurance and now they want more? I would suggest that each and every one of us do two things. Stop doing bpos for these companies at the current rate. Raise our minimum back to where it should be $100 for a drive by $150 for an interior. They want professionals, which is great, but let them pay us like we are professional. Secondly, stop placing our loans with the lenders that these bpos are "excited about"