America's Largest Social Network for Default Real Estate Professionals
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.
UPDATE: Thanks to all of you who helped me with your insight. I get a considerable amount of BPO work. It seems there aren't a lot of agents who do them in the areas I cover (I'm in Louisiana not all that far from New Orleans), so not a whole lot of competition so far. Sometimes I get inundated, which isn't a bad thing. I'm at a point now where I am going to need to get software to help me complete these faster. Most of the vendors I do work for reach out to me personally to see if I can complete any orders for them where they can negotiate pay. I've generated close to $3000 in the past two months. Not bad.
Blair, good to hear.I am in the same boat and hopefully it stays that way. I love doing BPO's and it keeps me updated with the market and is a nice income to pay the bills, selling real estate for me is all just extra income.
Thanks Matt. It's promising for sure. My broker told me he knows of a lot of agents who do BPO work full time instead of sales (though sales is extra). I've been fortunate that a lot of it is at my disposal at the moment. I'm about to get software so I can keep up with my volume and hopefully increase the amount I can get done.
For last several years it was for gas & lunch money.
Not sure why I get orders to go to Catalina Island, and HI. I did negotiate extra fee to go to Catalina Island it paid for lodging.
Last week there were 3 orders from 17 Mile Dr, Peeble Beach. I decided to drive there for the cool breeze as it was roasting inland.
A friend in SF was turning down many assignments from Black Knight Service(LPS). When asked why she says the 6+ hours spent every day, 7 days a week she was not making $100 a day. Each report requires 130 clicks and lots of commentaries. She was terminated.
Sounds like you killing it congrats! Did you get a chance to try an auto accept software? Did you pick up any listings from your BPO's yet? Good luck!
I use to do all I could get, I love being aware what the market is doing, great experience, but now I am more selective, if I don't get the amount I want I won't do it, not trying to act snobbish...the companies I work for naturally will take the cheapest, I don't blame them, but they come back....one of those "they get what they pay for".
FYI: Here is my biggest, most important advice.....don't sit for hours to do these....get up and walk around!!...I didn't do that for over 9 years and I am paying for it now.