CoreLogics BID SYSTEM??

How many of you are familiar with Corelogic (FARVV) and their crzy bid system? WHen this first came out I blogged about it and how brilliant it is from a BPO companies stand point. The fees are reduced to us but they dont do it---WE do it to ourselves!  I experimented with it, and went to full discount on every type of BPO, far undercutting their stated averages from the other brokers in my area. No increase at all  2 weeks ago I upped it all to par or even HIGHER than standard and Ive received more orders than I was getting. Is this system fake? Are we really bidding against each other? That would require elaborate programming. I think its FAKE and a way to get us to undercut ourselves by thinking we are actually in bidding war with other agents in uir area. Thoughts??

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  • Yes, I looked at this when they decided to cut their base fees by $5 at the beginning of the year.  I wanted to see if it was possible to add money to fees to offset this, however, as you might have guessed, the bid system is a one way scale where you can lower your asking fee by up to $15 I think, but you can only increase it by $3!  This change to their fee was the beginning of the sharp decline in the work I do for them.  Only in an economy of increasing costs, (gas, etc), do these companies think that lowering their fees is the answer. 

    You are right about the bid system; it is a cynical system to try and get agents working against each other for peanuts. 

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