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I use no automation system. I have become pretty efficient at doing these. I also do not do more than about 10 a day and I also do some property inspections. I also charge more for rural areas to make up time and gas as well as difficulty of comps. I am just saying that you can do these if you really need to but it is a marathon and when I am really busy it is an all day and all night affair. I do not do as many when my sales pick up. It just depends.
I guess I must be slow also. I do not use auto accepors and do not have auto assigns unless it is a company I do several orders for. We are a very rural Wyoming area and comps are generally hard to find unless they are right in town. I do not do orders for less than $40.00 and rural for less than $65. There are not a lot of agents in our aread that do BPO's which makes negotiation easier. I do not go over 55 miles from our primary market area. If I have more than one order, I go take all photos at one a time and do as much research for all properties at once that I possibly can. I cut a lot of time corners and I do not feel competent to do more than 3 BPO's a day. I have been listing and selling real estate for 35 years and know my market well, but would not even consider trying to do more than 3 orders per day, even though I know the forms well. I pick and chose my orders and regularly negotiate my fees and completion days. I also work extensively with REO's and standard sellers and buyers so maybe my time is more limited for the BPO orders. Happy New Year to everyone and I hope your business stays good.
Hi, I could never complete 10 bpo's in one day. The most I have ever completed was 6, and I had completed the inspections the day before(pictures). It normally takes me 2 hours for each one on the computer. If I do 8-10 per week I am happy. My average fee has gone up to around $100, thanks to Proteck. I average about $500 per week, as much as $1200 on an excellent week, and $200-$300 on a slow week. I honestly love bpo's, and I no longer print out the orders or keep track of when I keep paid. Sat. I got a check from last summer, they did not have my correct address. Less stress. I live in rural Northwest Wis. and have kind of cornered the market on BPO's and can negotiate a higher fee. When I do my drivebyes, I do my shopping, lunch with friends, and line up ones in the area. Currently its -25 degrees and working from home is priceless. I'm really no longer interested in listing and selling, after 20 years and seeing houses on the market for 3-4 years, if I could do bpo's for ever I would.
I feel the same way, nothing wrong with it if you can get the work done. it is a very good way to make money as a realtor and will often lead to listings.
Have you ever gotten any assets from doing them for the mills?
yes actually in many cases yes, about 5% of the time. sometimes short sales, sometimes REOs. there are some clients though who will not assign the listings to you if you do BPOs to them. Actually my goal is to do much less. I prefer property inspections. They pay pretty well and very short and easy to do.
No, they pay on time. We raised the minimum wage here in CA to $11. If you enjoy spending hours down load all mls records, filling every flipping field and willing to take 6 photos. You get close to that pay minus gas. The employees are actually professional and at least try to help.
For awhile they wanted you to hold a sign with address written on the sign in front of the property and take photo showing that home is really the property. All agents fell on the floor laughed their head off. I think their property inspection pays close to minimum wage with a question how much is the home worth or should be listed for. 6 images and have to draw a polygon.
I cannot stand that company. I will not do BPOs for them anymore.
They won't pay unless you get after them, and even then it will take months and months and allot of effort to get paid
Has anyone heard of EStreet and do they pay on time?
I have not done 30 in years and it was when the forms were easier and I had more time. I average about 7 or 8 a day plus about 4 or 5 property inspections. there is no way I could do 30 in one day now and even when I did it was a marathon. I have help with data entry, but I do not use any outsourcing to do my reports. I am a very fast typist and I can figure out comps pretty quickly. It ebbs and flows. when I am really busy with listings I do less BPOs, right now I am slower with sales due to time of year so I try to do more bpos.
I finally got paid by Valuation Visions for 2 BPOs done 4 months ago and 1 that was done almost a year ago. It took a letter threatening to take them to small claims or put liens on the properties.
I don't plan on doing anymore BPOs for them until I hear that the Canadian company that is acquiring V2 is paying vendors within a reasonable time (30 days as their vendor agreement states).