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Great advise by our In-house AM - Let's do this and see which companies pay the best and which ones don't - here's my list of good pays

EMortgageLogic
Equi-trax
Titanium Solutions
Franklin Credit
FASInc

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Exactly my sentiments.  I got a phone request and I wasn't sure how far it was, but knew it was a good distance.  I asked for $100 and he said "well since we gave you another for $50 (which was close), couldn't you give a little?"  I shouldn't have.  It was nearly 70 miles in one direction and back again, the time driving, the time on the computer.  I wondered if I even made minimum wage and with my experience I should be paid professional wages.  Never again.  If I know it's a good distance they can pay me $1.00 per mile and back for exterior and add on $25 for interior.  Too many newbies taking these for a mere pittance and we get to suffer from the low fees and long time paying.  I had to buy the gas and spend the time and still haven't been paid.  They took almost 2 weeks to send the clarification too.  Anyway, live and learn.  

I am looking for the correct addresses for IAS and Broker Price Opinion as I am owed for BPO's from both of them since last October. I want to file with the BBB in Denver asap.  If you  can get on with RRReview the pay fast  with no problems

 

Jim

Alzie Realty

I just went to the BBB site for Denver and then typed in their business name.  They'll find them for you.  Good luck.

I had turned Broker Price Opinion into the BBB 6 months ago for not paying you wil see they have tons of complaints already it took another month but I did finally get paid. Valuation Vision Im having trouble with right now its been over 60+ days now.

One of the major things we learned in real estate classes is not to go beyond your area of expertise and I believe inspections even suggesting amounts for repairs in BPO is on the edge of that too, but they demand them on the BPO.  Guessing what they would cost does no one any good.

Here's a really strange request I got because I do BPOs and it came off of a real estate site I'm on.

Here is an email I recently received:

Hello,

 

We found you listed on the REO Network website. We have a field visit/letter delivery available in Morrisville, MO 65710. It is a one-time attempt and if the customer is not home, the letter can be left taped to the door or with a 3rdparty. The letter is from the customer's bank asking them to call in regarding their automobile loan. A photo of the home as well as the collateral vehicle (if present and the customer allows) is required. We typically pay between $15 and $30 for these (depending on the distance for you) and need completed in the next 2 days. Let me know if you can do and what your fee would be.

 

Thanks,  (it was from a company called Sand Castle Field Services)

 

Why would I be willing to do that and possible infuriate someone in this day and age who could shoot me if they like?

Not sure why I got this, but will not do anything like that.  Mine seemed like they were trying to repossess a car?  I'm not a bank nor process server or bill collector.  I just thought it was strange.  Anyone else get their solicitations?

I am a BPO agent for Sandcastle.  I get an email a day with those crazy request for field visits/letter delivery for all over MS.  I just delete and move on.  I do not do any thing for less than 75.00 period.  But I had know idea it was not Real Estate related. Automobile, REALLY?!  But they pay me 100.00 for all BPO no matter the location and they pay quickly. 

yes I felt like I was part of a repo company for cars.

I can only imagine!

OK - Here goes:

Titanium Solutions closed down last month and evalonline has shut down. Sorry folks.

I quit IAS and Main Street because their forms were insane.

I charge $100 for a BPO - take it or leave it. I had to quit doing them. I was going broke working my tail off for $40-$50. I was literally going broke. Now I do 1-2-3 a month for $100. Interiors: $125. Asset Val paid me $160 to do one driveby last month.

I do not "accept" the email order. When they call, I know they do not have anyone who will do it and they pay $100, but you gotta ask for it.

I built my RE business back up and wonder why I ever got sucked into the BPO trap.

Maybe youse can do it profitably, but this old guy sure couldn't working 14-16 hours, 7 days a week. Maybe I'm just dumb!

I love what you are saying Marvin.  Although I am not personally taking quite as hard a stance as you with the fees I am definitely not lowering the pay.  I have been doing volume BPOs since 09 and won't take less for an order than what I started out with.  

If anything these companies should be paying us a higher fee for our experience.  I don't feel bad when I ask for more I know the value I provide is from several years of experience and the completion of 1000s of bpos.

If more people hold out for higher fees we can drive the fees back up. But to many people are still willing to take the lower fees.

Thank you for mentioning Transcontinental, I have been getting a lot of orders for them but they only pay $35 for an exterior, and now to know they don't pay either, forget it.  

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