I define a good payer by completing payment within 45 days of my BPO being turned in. In my case with eVal Solutions, it is now 3 months and counting for 10 BPOs that are owed me. That in my books is a bad payer.I have been turning all eVal Solution requests down until I am paid current.
I had told an agent in the office not to work for Evaluation Solutions....guess she didn't believe me,she came to me the other day and said they owe her for 6.......I told her she deserved having that happen when I had warned her !....oh well...I came on this blog and collected all the contacts that have been given and gave them to her,she emailed them ALL and got responses that said they would take care of it....I'll keep you posted as to which one,IF ANY helped.
Another company that hardly pays agents and demand a lot is OLD REPUBLIC DEFAULT.
They offer now $30 for interior often 100 miles out of the way. All comps have to have photos whether the listing agent posted it or not. You can drive back take a photo of some comp listing agent did not do, No aerial photos allowed either. The company does not insist but QA will. They will also threaten to reassign to another agent when you challenge their requirements. On top of it they will ask you to alter the valuation.
As for communication it is still problematic. There is no one staffed there supporting or coordinating BPO that you can talk to.
I know one agent in east bay who will drop everything and drive 65 miles out of the way to Central Valley. Three years later and lots of mileage on the vehicle, she still has not got what was ORTC promised. The compensation is low. It does not seem to pay for the gas. Yes, they do pay but hardly worth the trouble.
They still do REO's. I manage a few properties for them right now. They are still using the same process they did two years ago - Williams Auctions first, and if it doesn't sell, then they list at a quick-sale price and you have 90 days or whatever before it may be pulled for auction again. The only bummer is that in the last six months, all of them have sold at auction in my area. Before none of them sold. LAMCO is fantastic, always pay, and pay for BPO's even though I'm the listing agent... you can't complain about that.
Has anyone seen a decline in BPO prices with Old Republic? They were paying 45 - 50 for exterior and are now at 30 and the interior have dropped to 45 for a RUSH? I'm not doing any for them right now without negotiations to get a higher fee. Is anyone else experiencing a change in order prices?