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I'm new to BPOs and would like to do them to supplement my income, as I do real estate full time and most of my efforts are focused on working with buyers and sellers. Though I would like to make a dent in it and also get to know the world of REOs. Any recommendations for BPO companies to register with that you've had good experience with? I'm looking for someone reliable and who will actually pay, preferably in a timely manner. I live in Louisiana if that helps.
So far I've registered with Residential Real Estate Review, which all they need is a copy of my real estate license but I'm waiting on that because I just switched brokerages last month and my broker hasn't received it yet. I'm in the process of applying with PCV Murcor, Clear Capital, and
Any other recommendations? In in Louisiana if that helps. Thanks in advance.
Great, thanks! The only real issue I'm having is that my computer browser isn't compatible and for whatever reason my computer doesn't seem to want to seem to download Internet Explorer 11. I'll just try that on another computer, should be just a small hurdle.
Open Micrososft Edge Browser, there will be three dots top right of the page, click there. A drop down menu will appears, scroll down and select, Open with Internet Explorer, then you are done.
Blair ... During the past 18 years I've listed and sold over a 1,000 homes owned by HUD, VA, and numerous banks and mortgage companies. During that time I completed thousands of BPO reports. Many for fee income. Now I hardly get requests for BPO reports, partly by design. Unfortunately, a couple of things of happened over the last few years. The fee companies pay for a BPO has decreased to where it isn't worth the time to do them. Also, many BPO requests ask for some much detail that they become very time consuming. Lastly, most of the BPO reports don't lead to an REO assigment. Many of these BPO reports are used for other purposes (e.g., home owner applying for home equity line, etc). I suggest you spend your time pursuing prospective buyers and sellers instead of doing administrative work for low wages. Good luck!
Thanks Jonathan. I'm just mainly interested to make some extra cash in my downtime, so I really wouldn't mind if some pay as low as $40 since it's better than nothing, though it depends on how much work they're asking. Thanks for the link, I'll have to check it out!
Thanks Marce. I'm more or less wanting to do BPOs to make some extra cash in my downtime. Though I see what you mean about how sometimes it just isn't worth it for the pay plus the amount of required to do them. I'd still like to try though.
you are better off getting a part time job or increase your real estate business
EXCELLENT ADVICE !!!!!
Good advise Blair, the BPO business is not what it use to be, and will play out soon because of all the security breaches with the large BPO Broker mills.