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It seems like there is an epidemic of Servicing Co's and Bpo Co's that are just not paying.
This platform is a good source of information for agents to share their experience with others to avoid
loosing money and time on these companies that wish to deal in dirty business practices. If you complete an order based on agreed terms & price, there should be NO reason you should not be paid.
The names of a few companies that Pay on time and every month.
2. E Mortgage logic
3. Single Source
4. Specialized- sam
The names of some THAT DO NOT PAY !
1. IAS - Integrated Asset Services
2. Bpo.com Broker Price Opinion
3. Trans continental
5. Main Street Valuations AKA Bpo Fulfillment
6. Valuation Partner's
From Proteck, Clear Capital, Old Republic and Valuation Vision always. Valuation Vision has been rather slow on paying lately since they took new ownership and i don't do a lot with them anymore. But the latter few, yes and I highly recommend them. Old republic is VERY detailed in their work, but with a lot of commentary and detailed reports you will find that they will get use to your way of reporting and will have less revision requests. All the above are excellent and PAY... key word. I work steady with Commercial and Residential with Clear Capital, Old Republic area rarely giving out Commercial BPOs but they do from time to time. The highest paid is clearly Clear Capital for commercial reports. They expect excellence so if you are new, you will have revision request. I strongly suggest you learn from their opinions as it will help you within other key Vending Companies.
One key factor i must asked, PLEASE do not do reports for the fees given, you can and should as for fee increases. By accepting them as lower face fees it hurts us all. A quality reports takes hours to complete, throwing it together hurts everyone as Clients will soon turn away from that Vendor which means... no work for you. You quality will enhance you ability to receive more work and when asking for increased fees, they don't mind the extra cost with the reassurance that the reports will be on time and with excellence. :) So remember if you are new to the BPO Field, please don't accept fees that are low... it hurts us all. Once you do the math for time, gas, expense (MLS and other tools) it doesn't add up. We need to make a living... and it is usually "newbies" in the field of BPOs that don't realize that taking fees at that rate they may be getting work, but after a year you realize you are running in the red when it is calculated up by expenses.
Update on Solution Star from me: I pestered them for several months, told me they sent it out to the wrong address...and would send it out again, that never happened...a check did come in but it was for my broker..he had been waiting for his for over 4 months! I contacted them again and kept pushing..I also told them that I had gone to the Blog in the first place to find out if I should work for them and there wasn't anything negative at that time, but I would change that if I didn't get my money!...( 7 BPO's at 65= 455 ) I have a contact with them that finally got involved so if anybody needs it I will be glad to share...I got my check overnighted! :))) I'm a happy person but would not work for them again, I have better things to do with my time...their listings also all go to auction and I absolutely do not want anything to do with them, I have 3 now with other companies, that after many months of taking pics and reports they brought them on at a ridiculous price then put them on auction, one doesn't pay a buyers agent commission!...ok, I'm getting off on another tangent, sorry...: ))
Judi, I am currently waiting on a check from SolutionStar. I received an email listing all of the addresses that they were paying on and had the date of the payment of 12/3/2014. It is now 12/14/2014 and still no check. When I called in they gave me an email address to send my inquiry to. They responded by email stating that their policy is to allow 7 to 10 days. They now owe me over $3,000, so it is a pretty sizable check to be "lost in the mail". If you have any contact information that may help me get results, it would be appreciated.
Don't ever let a company get that far behind! It is like a tenant getting behind in rent. Once they are 45 days late, you will never see the rent. Cut your losses and move on. Your money is gone and the stress of trying to get it is not worth it.
and in your defense to others, I had that happen one time with another company ....sometimes you can get so busy with everything that it can mount up and when things slow down for a second you realize just how bad it is...
.OK Kiddo, here is his contact info....he seems like a really good guy and I believe he's up the mgt chain?, I sent an email one night thinking they would look at it in the morning? I got an answer from him that night! ....Aaron.email@example.com, .like I said they overnighted it the next day and he had me a tracking # by the end of the day....I needed the order #'s is all. Good luck. Let me know how it worked out. I told them I would give a negative report if they didn't do something....I don't call my conversation about them negative. Anytime a company pays is definetly a positive !
Cindy, I have noticed that the low fees tend to be in the urban areas and of course those are the areas that we would love to cover. I think not only new agents but agents who are competing with far more agents in those areas take lower fees. I do lots of bpos in urban areas but I get paid less, however go even 20 miles out or in a more suburban area and I get much higher fees. For the most part I can negotiate the fee I want outside the more urban areas. There are some places they just can't get an agent to go and will pay according. Personally I think that we should be paid far more than what we get. When I first started doing these 12 years ago the average for a driveby was $60 to $75 and the average for an interior was $90 to $100. I am at a loss as to why the median BPO is less when the cost of everything has skyrocketed.
I have gotten business from most of the below. Personally I do not like Clear Capital or Old Republic, but they do pay on time. I get TONS of business from certain clients and several inspection companies. I get business in smaller amounts from numerous companies such as Landsafe and Inside Valuations. I have kicked a few to the curb, including RRReview and Clear Capital, although I was told I could sign back up for Clear Capital. I am so busy I don't think I could handle it. I kicked Nations Valuations Services to the curb recently which was a shame because I worked for them for 11 years and they changed in a way that was not positive. They did not pay me on a report and actually cancelled it because they did not like my comps. It was a BPO that was located 70 miles away in a rural location and I did not want to do it, but did it as a favor to them. This is the thanks I get. I did get a call today after two months from someone at Nations who started in about how I left a message that I would take legal action and since it took her two months to call me I told her to forget it. FYI, I have been getting much higher fees lately for BPOS due to distance and difficulty and when I explain the amount of time and gas it takes to get to these properties they have no trouble paying the fees.
I will rarely do a drive-by for less than 55, and that only within a few miles and i don't do them often at that price. My reports can take up to 2 hours to compete by the time all supporting documents are uploaded (unless of course it is a very difficult report and it can take twice that amount of time.) With time, gas, and expenses it doesn't work out for me to do it for any less. :)
My work is steady and i am approached often, so asking for more money has never hurt my work load. They get a quality report that doesn't need revisions, Clients are happy, and I get fees that i can actually make a living at. :) Fees have been reduced drastically over the years... many of us old timers will no longer do them because of it. But i still keep kicking away. :) I am disabled and there are very few things that my body will allow me to do, so this is my bread and butter for life. :)
On a brighter note: Merry Christmas everyone! I thought i would put a little cheer in the pot... looks like many could use it with all the past money issues, and our never-ending search for our pot of Gold vending companies. I must say that I am very pleased to see so many Realtors being helpful to one another, i have seen less favorable remarks and even so much as those "misleading" others when asked questions regarding Vending Companies on other sites. I am very happy to see us all coming together in such a way. It is very lifting and extremely helpful to all. Have a wonderful evening and a great weekend!
Has anyone worked with BrokerPriceOpinion.com? They pay $40 for BPOs or more if rush is needed. I just now received a call to handle a couple of them. Thank you!
Taz, do not under any circumstances take any orders from them. They will not pay, or if they do, it will be months and months down the road and you will not get the full amount owed unless you threaten them. It is not worth the hassle. also, I think $40 is too low for a BPO.
I would be more than happy to show you how some of our clients get paid by them...
Please give us the contact for us to get paid, there are majority of us here that they still owe. I am going on 5 years of no payment, when they were Valuation Solutions, and over a year at their new "name". We would love to have your contact for payment, please share.