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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.
Thank you Nicole! Sorry I didn't get to reply sooner. I'm just getting started though I definitely feel that software will help me out in the long run as I begin to do more BPOs. Your list of companies was also very helpful too!
Sure thing Blair, my pleasure!
We try to be helpful :)
Hi Nicole, I will get in touch with you soon because I'm getting the hang of this BPO thing and getting way more work than I anticipated, so software will definitely help! What all does it input for the BPOs? I take the longest time researching neighborhood statistics and finding the best comps and entering them.
Hi again Blair,
If it's ok I'll have my outside sales manager contact you to help best answer questions based on your specific business needs? Please email, Jaime at firstname.lastname@example.org or call to: 360-223-2482
Also, you'll want to start incorporating the NABPOP's BPOSG to help you find comps in 10 minutes that are more likely to be accepted by BPO companies.
Here's a link to it: http://www.bpo-university.com/docs/BPOSG-V5.pdf
Check out pages 7-9 in specific for the guidelines that you will want to use when pulling comps so that you bracket the subject property correctly. Most of the Top 10 BPO Mills have adopted the BPOSG so if you learn this early you are doing yourself a HUGE favor.
Thanks for your input. So far I've been accepted by Clear Capital and AVM (Asset Valuation and Marketing) and I received my first BPO assignment from Clear Capital this afternoon, which I've accepted. I'm curious to see how this goes. Thanks for all of your input!
Interesting reply Joseph! I mean no offense here, but I hear folks say this from time-to-time and it always stops me in my tracks. Of course, I have to add my two cents here, sorry. When my company invented BPO AutoFill software back in 2009, it was to help me with my BPO orders because I was getting burned out on them. It helped not only keep me in business but it also allowed me to focus on what I do best and it wasn't killling myself on the data-entry part. I choose to work "smarter, not harder" and I believe the thousands of real estate pros that have used our software would stand behind this 1000%. It should take the average person 15 minutes to do a BPO order, 10 minutes to pull comps using the NABPOP's BPOSG and 5 minutes when using BPO automation software to help with the AutoFill side of their order. How long does it take y'all to do a BPO order (minus taking the pictureS part)? And are you using BPO software or not? Curious minds would love to know :0)
I think you both have valid points. When I first started as an assistant I also didn't use software and would turn over 50-60 orders weekly. If it was my personal accounts perhaps I would have more income to afford software but everybody has to start somewhere. It's good to learn the ropes of not using software before using software. Kind of like learning how to fly a plane without auto pilot.
With that said I am believer in the benefits software can provide and for Agents that accept bulk assignments it substantially increases production if you can get into a rhythm of using it. The problem is that software is software. Things at times go wrong, things don't work, updates & software support get costly. It's a tough business because there are so many variables for trying to map out and maintain up to date templates for every company and form (same with Order Capture) regardless of the technology being used. Every time a vendor upgrades their site the existing scripts go up in smoke.
I agree Jonathan! This forum has by and far been the most helpful resource I've had. Some people here are being accused of free advertising but in reality this is all helpful info I wouldn't have easily obtained otherwise.