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Hello, Can anyone tell me about Mainstreet Evaluations? I signed up with them a few months ago and recently received a couple of BPO orders from them. The problem is that both orders were 25 miles away from my office with payment of $20 per order. Is this their standard BPO fee? Is anyone completing full BPO's for $20, it almost seems like an insult. Needless to say I turned down both orders.
I have completed property condition reports for $20 for other companies, however they don't require comps and usually only take less than 5 minutes to complete once the inspection is complete. But to do an entire BPO for $20 seems unreasonable, am I missing something?
Thanks for your input.
Also you really have to stay on them for your payments.
they pay, just about 90 days out....
they always pay more than $20 for a BPO. but anyways, what the hell. I don't accept any work from them unless I negotiate the fee. The lesson is: If you don't like the fee, negotiate one that makes you feel good doing the work for them, if they won't pay it, move on and forget about it. There's plenty of work out there.
I have done 1 of these at $20 and noticed that their form is also very easy. They did not ask for any comps, even though I had to look them up to come out with an accurate BPO. They also asked for a price range not an exact price. I only accepted the BPO because I had to drive by that area anyway.
Exterior Inspections are just a couple photos and no comps. I have seen their BPO orders compensated at $45-50, as high as $65 if they are having trouble placing the order or if it is out of area.
The $20.00 for the property condition report is so much better than the $45.00 for their BPO which you have to upload MLS sheets one by one and you need to offer a thousand and one explanations after the report is completed. I keep my zip codes to 8 miles radius and stay away from the urban sections of Miami FL, everyone should do the same.
The funniest thing Mainstreet has ever done was when they implemented the photo holding the pad with the property address, I don't think anybody blogged about that, we all lost it here in my office, we laughed all day and of course said good bye to Mainstreet until they removed the requirement. Who's crazy idea was that???!!!!??? Really? It's bad enough sometimes to take photos of certain properties, main arteries, owners/occupants sitting outside, do these people know what we go through??
John . . . you can do better than Mainstreet. Even if it is only an exterior driveby inspection, factor in your time (to drive to the property and complete the report), fuel expense and, to a minor degree, the wear and tear factor. $20 for a property 25 miles distant is hardly better than minimum wage. Try to get BPO work with these companies: Goodman Dean, Integrated Asset Services, Single Source, Keystone Asset Management, Old Republic, Clear Capital and Disposolutions. They are all good companies to work with, and most importantly, THEY PAY! Of the seven I have mentioned, I have done (and am doing) REO work for them. I get more BPO's than REO's, but that's what we REO Realtors do.
I have worked with them and they were 45.00 but last few were 25.00 yes I beleive that is an insult for all info they want and it was interior I turned them down too.