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BPOfulfillment (formerly MainStreetValuations) pays, but they are so slow in paying. 60 to 90 days. At least I've never had a problem getting paid to date, but I sure wish they would pay much sooner.
I keep an annual running spread sheet of all the bpos and companies that I do work for in Google Docs. I also note in my spread sheet the date that the bpo was submitted and the date when I was paid. Because some bpo companies, that even though you completed the bpo at the beginning of the month, their billing cycle doesn't start until the end of the month. This helps me know how to spread out my workload by how quickly or slowly a company pays and how much each company pays for a bpo.
I also have a spreadsheet, broken down monthly and I track when I get paid, I also do it for tax purposes as well as a back up. I use excel.
I had so much trouble with Main Street that I will not do any more for them. They have called me a few times under BPO fulfillment, however I always declined.
Yeah, since BPOfulfillment changed the way they distribute their orders, as of the first of the year, I have yet to get one. And that's ok because it gives me more time to focus on getting listings. 6 last week and 2 have already gone into escrow.
They work with another platform that you have to pay I think $15/$20 a month to get their BPO's. I personally won't pay anyone to get BPO referrals.
Thank you, I will not pay either.
Larry, I've done a few bpos for C A. They don't pay a lot for their orders, but at the same time I've never had any problems with getting paid within 30 days from the accepted order.
Has anyone paid and taken the Certification from SAM Specialized Asset Management? I've been doing BPO's now they want $50 for Certification and right now honestly I don't have the extra $50. They say they won't use you anymore unless you get certified, but why a payment deadline when it's not convenient or readily available. Have any of you had to do this? I did the $49.95 background check for Clear Capital even though I had been with them for 6 years. So seems like they're all trying to get extra money and pay us less. Just thought I'd ask.
Again, just another money profit machine. The next thing they will ask you to do, is become a Professional Level Member @ $700 with Res.net whom they partner with to get any listings/BPO's . You may never see any BPO's? I never did when I paid the $75 membership with SAM 2 years in a row and then decided I would no longer give them my money.
Thanks for your reply. I've done some with them and they pay ok, but wondered why now after over a year they want me to be certified. Isn't 33 years experience and membership in all the RE groups enough?
Funny too, when I get a BPO from some companies, even the ones that pay and it's low, I decline, but I can see now that other agents are declining and if it's a rural one and I'm the closest they get on the phone and call me and tell me to set my fee. Which the past two I said I want $100 for an exterior and you know even that seems low when I have to drive over 160 miles roundtrip for 2 and then spend hours trying to find comps that don't exist because of the extreme rural location and then they keep asking for why, why, why on the comps. Hope I get a break soon and can turn down all but the easy subdivisions. I don't mind them, but yesterday I was taking part of the continuing ed class for renewal of my license in June and they speaker asked how many people did BPO's. Out of probably over 70 agents, I was the only one who raised their hand. Looks like the no pay and badgering we get from these asset companies has come back to haunt them and now they're desperate to find agents, especially for these hard to do rurals. I think it's called KARMA, lol.
I recently did a BPO for one of my vendors and I got them to pay me $200 for a 3hr round trip. I don't think these companies realize that its not just the time but its the wear & tear on your vehicles and the high cost gas to get to these places. Then on top of that, some sleezy brokers will even try to gouge their agents and take 8%-10% of that to cut them a check. Used to work with a broker like that and I left them for the broker I have now who lets me get paid direct.
I had a broker like that as well. Most of my brokers let me get paid directly unless the companies required it be paid directly to the broker and now that I am the broker I do not require any agent to have their checks paid directly to the brokerage. I think that is unethical to take from agents like that even though most companies require E and O insurance. BPOS keep agents' cash flow going and makes it easier when there are dry months.