Has anyone done BPOs for this company? If so, what has been your experience? Any tips on completing these or on valuation? I know how the company works, but a little curious on arriving at final values.
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Just got this email today...from my application I sent in February:
Thank you for taking the time to send in your application to become an approved realtor for Kondaur Capital Corporation. Although we will process your application, we would like you to know that Kondaur Capital Corporation does not purchase loans secured by properties located in the State of Georgia; therefore, there is a very, very low probability that Kondaur Capital Corporation will acquire title to any properties located in the State of Georgia and with respect to which you would be eligible to be considered for a listing. Although Kondaur Capital Corporation does not currently purchase REO, there are occasions, though rare, that Kondaur Capital Corporation will either purchase REO and/or assume title to a property located in the State of Georgia. If and when we decide to purchase any Georgia properties, I will be in contact with you.
David, to become prefered agent it's a same process like the other companies. Just be good and they will follow with you. :)
I've done couple of deals with them, they good.
Great company to work with. On the CMA, they like to see a 30 day qick sale value. I've received listings and waiting for more. Great AMs to work with.
Sam Shueh > Vitaliy MikshanskiyApril 5, 2010 at 5:31am
How does one price 30 day price. Is it like 10% off 90 day or very subjective?
It's pretty simple in my area Sam as the REO properties go under contract quickly and I'll price them right along with them...Thats basically what they are since Kondaur is buying defaulted paper.
Another way would be to take the available listings and price just under the lowest active price, this will work even in a moderate sales area.
Third is if it is in an area with very few sales you might need to price 10% under to attract immediate attention.
Like any other BPO or CMA as long as you can justify your pricing opinion and thought process you'll be OK.
The first one I ever did for them I remember the asset mgr asking me "Tony... What do you need to price it at to get a contract on it this weekend?"
Remember they are getting these properties in bulk and do not want to sit on them if they get them.
Replies
Thank you for taking the time to send in your application to become an approved realtor for Kondaur Capital Corporation. Although we will process your application, we would like you to know that Kondaur Capital Corporation does not purchase loans secured by properties located in the State of Georgia; therefore, there is a very, very low probability that Kondaur Capital Corporation will acquire title to any properties located in the State of Georgia and with respect to which you would be eligible to be considered for a listing. Although Kondaur Capital Corporation does not currently purchase REO, there are occasions, though rare, that Kondaur Capital Corporation will either purchase REO and/or assume title to a property located in the State of Georgia. If and when we decide to purchase any Georgia properties, I will be in contact with you.
Guess I'm out of luck with them. :(
I would appreciate the info.
I've done couple of deals with them, they good.
Dave
Another way would be to take the available listings and price just under the lowest active price, this will work even in a moderate sales area.
Third is if it is in an area with very few sales you might need to price 10% under to attract immediate attention.
Like any other BPO or CMA as long as you can justify your pricing opinion and thought process you'll be OK.
The first one I ever did for them I remember the asset mgr asking me "Tony... What do you need to price it at to get a contract on it this weekend?"
Remember they are getting these properties in bulk and do not want to sit on them if they get them.
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