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  • I used to do alot of work for lamco back in 08. I sold several reo's and completed many bpos. In 09 they moved to auctions for there reos so the reos died off. The bpos dropped rapidly and I only see one every 2-3 months. I have never had a problem being paid.
  • I gave Lamco creedance because they showed themselves in person at the 5-Star conference a year and a half ago.  I figured if they didn't perform, the 5-Star organizers would hear about it and they'd be gone and trashed quickly.  I quickly recouped my fee in $65 exterior BPO orders.  Now starting my 2nd full year, I am still getting their BPO orders and my first listing.  I am surprised about the listing as most of their properties I have valued go to a Williams and Williams auction.  I also do requested (free) occupancy checks on those properties that I have done interiors on for several months.

     

    My 2nd year renewal was discounted to $199 and my last 2 exterior BPO orders are paying $85 and $95.  I think they must try to reward agents for signing up by paying them back quickly.  I've done a total of 23 BPOs over the past year for a total of about $1495 plus.

     

    That being said, I still cringe at these sign-up fees.  OK maybe the first year for setting me up in their system.  Better if they give me an assignment based on my record and my references.  Then if I don't perform, just delete me...   

  • I've done BPOs for Lamco  www.lendersreo.com  No problems.

    http://www.lendersreo.com/
    • hey but they charge 259.00 subcription.

      • I just realized it's been 12 months since I did a BPO for them. Never paid them a fee and wouldn't.

      • As a general rule of thumb, if they come looking for you and want you to pay an up-front fee.............. RUN!

         

        If they have plenty of business, they do not need to recruit. Word will get out quickly enough. And there has been plenty of discussions about companies charging up-front fees around here.

        • thank you for your input

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