Per my contact:
The fee for this BPO is $ 35.00 with special consideration that KeyLink Real Estate is looking to purchase this property. With its purchase, we will want the BPO agent to be the listing agent for this property. We will need a 30 day quick sale value on the BPO and expect you to sell the property at the 30 day quick sale value. Because of this, we need the valuation to be as accurate as possible.
Please let me know if you are interested doing this BPO and being the listing agent.
Legit??
Replies
Well, if you do the BPO you will get paid the $35. Don't expect to get the listing because it would be looked at as a possible conflict of interest. Meaning that it would be looked at that your final value may have been influenced by the fact that you would be getting the listing. This is why most if not all BPO companies and lenders require 3 independent BPO valuations. That is also why in the fine print when you sign up with BPO companies that there is the disclaimer that if you do a BPO on a property that you will not be assigned the listing.
There are a few BPO companies, the list is growing, out there who will use this rouse on brokers/agents to get them to do low paying BPOs.
Legit Asset Management (AM) companies will assign a property first to an agent and then require that agent to do a BPO to establish a FMV prior to determining a listing price. It's never been the other way around.
Good point, I'll do this one to see if they keep their word. They are recruiting like crazy on FB right now.