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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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Colleen,

I do not doubt anything that you say.  My point is simply that there is good and bad in any industry and everyone should not be considered to be shysters and idiots just because some are.  I will agree that there are some companies out there that make their living taking advantage of agents by making false promises and outright lies but that does not mean that all of us do.  If we are mistreating or misleading the agents that deal with us, call us out by name and tell the world.  We would deserve it. I have sense enough to know that we could not remain in business without the partnership we have with the local agents. You don't have to educate me on how much is put on an REO agent, I fully understand it and realize that it is not for everyone. . 

I am on this forum because I registered to be here and clearly stated that I was an asset management company.  If only agents are supposed to be participating then the administrator should remove me and I will be ok with that.  I would think, however, that an honest accurate dialogue rather than just a place to vent would better serve all parties. 

You know this makes me very uncomfortable and puts us in a position where we cannot post our feelings with potential reprimand. I am going to contact the administrator.  I will not post on this site again.

You should ALWAYS consider who is reading your posts - here or LinkedIn or anywhere else. There must be a reason hardly anyone calls out the asset company or manager name when they complain about their poor treatment here.

I totally agree David. I stated a few days ago that we have the choice of accepting or rejecting a BPO or Listing if we feel it isn't in our best interest. I take most listings offered to me and I am not a desperate agent. I do it because I enjoy it. I turn down plenty of BPO's because of the pay, but I also accept a lot of them that pay less. I do BPO's as much to keep up with the market as the money. Trying to make a living off of BPO's is a futile effort and would never support me. I get along good with the companies I work with and turn down BPO's with the companies that do not pay well or that do not pay at all. I have no objection to asset managers, brokers or agents being on the forum. Possibly having someone like you read the blog may wake up the companies that don't pay. Those are the companies this blog is aimed at anyway, not a forum to complain about everything the asset managers do.

Also important for all to realize is that this is a public forum.  You must be a registered member to post a comment but anyone, registered or not, can read the comments.  Just a reminder for anyone that thinks their comments are private.

This website is for REO professionals not just for agents. It is rare to EVER hear from asset managers and I welcome ANY response from them AT ALL. We will never hear from the bad players. Just stop working for them.

It still amazes me that agents are/were accepting BPO orders from companies like evalsolutions and brokerpriceopinion.com when you can find discussions here from 2010 saying that they dont pay and the agents stopped accepting orders. We didnt have resources like this when Coast to Coast and Oaks Financial went out of business and left us without payment for BPOs.

regardless, I am bothered by this discussion and I feel that this puts us as risk. I am not even doing BPOS for these companies that you just mentioned at this time and have not in years. I have better things to do with my time and  if we are going to lambasted by an asset manager who could potentially cause professional harm then this site is not worth it. this is not that big of an industry. count me out.

I'm sorry.  It was certainly not my intention to be lambasting anyone.  My only point has always been that all 3rd party vendors should not be being lambasted either just because some are bad.

IVE BEEN SCREAMING THIS FOR OVER A YEAR!  lol  Never sign up on those platforms. Good Lord--do people need to be hit over the head with an elephant?  Who the heck knows why BPO ever gets business from the banks/investors. Those TOTAL IDIOTS still have not paid me in 4 months for 12 I foolishly did.

The sad truth is that they keep getting away with it and find suckers agents to work for below minimum wage.  A total lack of respect for the agents.  

It is beginning to look as if most people on this blog have forgot what it is about. This is to share who does and doesn't pay for BPO's not what forms they are using or how much the banks get. If you are doing BPO's as your main income from Real Estate, you need to go back to Real Estate 101 and the basics of listing and selling. Doing BPO's is an option that no one has to do. If you aren't happy with the amount the companies are paying, turn down the BPO. If you are good at what you do and keep turning them down for money it will happen. With the number of foreclosure going down, anyone that is relying on BPO's for a living better get a different profession. Doing BPO's has rarely ever been an opportunity to get REO listings, so no one should ever count on it happening. The lenders and asset companies have been at it for a long time and already have their listing agents. They are just looking for additional opinions. My suggestion is if you aren't happy with what BPO's and REO's pay, stop doing them and start working traditional Real Estate. Not only does it pay better but you get a lot more satisfaction. If you are just doing BPO's for a way to have extra play money and a good way to keep up with the market, keep doing them, but as long as they do pay, don't complain-it is your choice to do them or not.

Lavina, you got that right. I cut down to almost stopped doing BPOs sometime back, except for some fill in work between closings. Once these BPO mills dropped what they would pay, I got back into the Real Estate game and worked on getting listings.
These companies are taking longer to pay (if you are lucky to get paid), are paying less and expect more out of you.
I just had a closing last week and of my last 5 closings I made more money off the commissions than what I would have made doing BPOs in a long time.

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