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They told me that yes if you are doing BPOs you are eligible for REO a couple weeks ago. I've been doing them for awhile also with no REO.
This thread goes back several years, and I have been watching it for some time. I have been doing BPOs for Goodman Dean for about 3 years. They were great to work with, easy form, pay in 2-3 weeks without fail, and friendly people calling you for rushes. Then about 2-3 months ago, I received an order, went and took pics, came back to pull up a new form???? It took almost 4 times as long to fill out......I called it a mini-appraisal. I quit taking their orders, and received a phone call from a lady asking why I hadn't accepted any orders recently.
I explained the form, which took longer with no increase in pay, and the fact that I had never received an REO from them, even after requesting them for over 2 years. That is a different dept, I was told! Fine, give me their phone number and I will talk directly to them. She didn't have that number available.......Right!
I have gotten in with other REO companies, and working on getting houses cleaned out getting ready to list, so I have quit doing any business with Goodman Dean.
I worked for them for many years, i use to get allot of work from them in all capacities. But about 2 years ago it all stopped
the orders became less and less and now i get nothing at all. I don't think they have much inventory honestly. I believe allot of their clients pulled, therefore that would be the reason you don't see any listings.
You are not gpoiong to get REOS from the BPO portals any more. The lenders are holding onto them to keep as investments and also selling in bulk to big money corps. REOs will b e fewer and fewer, nad most actually going out will be to large real estate companies with deep pockets to pay for the power, upkeep, etc.
They need to pay their own expenses, the have large accounting office they can handle it. It should not be the responsibility of the realtor.
I took worked with them for years had done several REO and then nothing at all for the last 3 years
We are a team of people having experience in manually accepting new
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companies like RRReview, Atisource (Ocwen), Clear capital, OLD
Republic, Equi-trax, SAM, Proteck, Corelogic, Emortgagelogic, BPO
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Woodfinn etc.. and other companies.
We have one year experience and very high success rate in accepting
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orders for you.
You would pay for accepted orders only, no additional costs. If order
is canceled later you don't need to pay for it.
You can leave all your worries on us for accepting orders, please
shoot me an email email@example.com
Looking forward to hearing from you.
BPO Order Accept
What a joke. How many more companies are we going to allow to take advantage of us? Get out of the BPO nightmare and start selling real real estate!
My BPO business has slowed down over the last several months and I had gone back to spending more time getting real estate listings and not relying solely on income from BPO's.
I've never relied solely on BPO's...just like I don't rely solely on real estate sales. I've been doing both for the past 6 years.
I do sell and list properties. But seeing that I am the sole breadwinner in the family I need to make money while I have deals in the pipeline or working to find buyers and sellers. Some of us have no other means of paying our bills. I'm not happy with the BPO business and my firm rule is that I don't pay to get orders...I expect to get paid.
Now, if someone wants to give me a detailed working plan on how I can get a check CONSISTENTLY from just selling real estate, I'd be very happy to look it over and put it into action. Many of my colleagues only sell real estate but then they have spouses that make good money and get the bills paid. Unfortunately, I don't...my wife doesn't work so I look to make money any legitimate way that I can. Now, this doesn't mean I don't have specific standards, I do:
1. I do not accept any BPO orders that do not pay at a specified level.
2. I have a specific area that I will cover, anything outside of that area is declined.
I don't "allow" the companies to take advantage of me...a lot less than the amount that I let my broker take advantage of me.