America's Largest Social Network for Default Real Estate Professionals
I have been doing BPOs for Bank of America (previously for Countrywide) through their system and then at Landsafe for quite a few years. They have paid $55 for an exterior BPO since day 1.
Yesterday I got an email that Landsafe is switching to InspectionPort for orders in June 2011. I registered and was horrified to discover that each order I get through the InspectionPort system will cost me 10% of my fee for the privelege of using their system.
I sent an email to email@example.com to request that they increase the fees paid to us to make up this difference. Jeez.... with gas at nearly $4.00 a gallon and the cost of everything else rising, why should we agents bear a 10% reduction to line somebody else's pocket?
Time for us to go on strike?
I too was shocked. Landsafe has been a very good client but they have not been able to fix several things in their own system such as email notifications that there are orders or have my fax number prefilled on the BPO form.
If they do not change the BPO fee, we will be paying 9% ($5/$55) to use this FNC INC. owned system. That's 3 times as much as the 3% ($1/$40) we pay Altisource to use the system Altisource actually owns themselves. I sort of understand why since someone has to pay for an outsourced system but I'd rather they just deduct the fee as opposed to having us pay a separate "invoice". That's just crazy.
I know we all know this - there is an UNLIMITED number of real estate agents out there and this REO/BPO industry has us all by the you-know-whats. There is no real estate agent union or any of a number of organizations that take our money to join that will effectively lobby on our behalf.
Oh, I know. My "strike" idea is just hyperbole. It is pretty frustrating to see our net pay go down after so many years of service, rather than go up, to keep pace with rising prices.
I understand that somebody must pay for an outsourced system, but it galls me that we are the obvious choice. If Landsafe thinks FNC is such a good idea why don't they pay for it?
I did send an email to Landsafe asking that they increase the fee they pay us and they replied, quickly, that they are not doing that.
I can't speak to the business side of things, but from a technical perspective the "InspectionPort" platform is simply an extension of their "AppraisalPort" arm of things into the BPO world. I'm frankly VERY surprised that they'd charge you more to use the new platform: that should be something that's provided free by them as a part of doing business.
BPO Automation has looked at developing automation for the new InspectionPort platform, but we don't really have hard-and-fast information on when everybody's going to be transitioning onto it, so we've been hesitant to get involved until we have more details.