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1) how do I find out a homes Style?
2) What is the best way to describe The subject property? Best way to describe subject neighborhood?
3) And where do you get the stats or statistics of the neighborhood?
4) Should we use absorption rates? Is so can you give me an example on how you would write it out. 5) what are the BPO Companies that pay $50.00 & up for exterior BPO's.
I am in Los Angeles
Thank you everyone!!!
Join NABPOP, they are a great source of information. I will be bringing my BPO Boot Camp 2 day course to California in the near future. We are going through the CE approval process right now, once approved it will earn 12 hrs of CE. Already approved in my state of Georgia, first class November 10 & 11.
Looking forward to it Thank's
To conclude, it aint rocket science, dont over think it. What you really need to know is how to quickly navigate each companies input form. Some are flat out stupid. Dont know who put them together but they are not laid out well. Some have spaces only for basics and you cant explain much. Others are wild with literally dozens of fields that uou mst place a zero in if they dont apply. That takes a lot of time.
I use two screens. Form on one, comps on the other. When copying my comps out of the MLS, I dont do all 6 on one pdf. I do the solds on their own and lists on their own. Its easier to scroll three pages up and down than a 6 page pdf and possibly mix them up.I make a file with the address, then import the pdf solds, the pdf listings, the MLS ain sheet if any and the TAX statement. Many time the TAX statement is different that current or prior MLS info, and the company goes by TAX. Sometimes that is not correct and you must tell them why. Keep all you photos in that file. Start an OPEN BPO file to keep them all in. Start a TO CLOSE BPO file to keep the finished one in. Then a CLOSED BPO for the finals Name them all by STREET NAME, DIRECTION (SW, etc) STREET NUMBER, BPO COMPANY (abbreviation-like CC for Clear Cap) then the miles in round trip which you have mapquested and finally the fee to you. Overkill? NOPE. Why? To use to build your excel spreadsheet to track everything you do. As you finish one, move it to TO CLOSE. Each week open your spreadsheet that has the headings, Address, Order date, submitted date, miles, fee, paid date, bpo company. Enter in all those files from TO CLOSE, then move those files to CLOSED. The spread sheet is VITAL!!!!!!!!!! You can track how long its been since the submission to see if tey owe you. Of course it keeps a running total of your MILES for IRS purposes.
Regarding the two screens, I open the MLS or pdf comp pages on the left and have the bpo form on the right. Using my mouse, I rapidly cut and paste all info from the forms and copy into the bpo form fields on the right. Many times you will have all six comps laid out beside each other instead of three up then three below. In caseslike that, I go to all the fields that will be obvious and the same. such as 'TYPE. Usually thats a drop down. You right hand click it open and left hand hit S for SFR, etc. You go left to right. Same with condition if they are all good. click and hit G all the way over. Do that to all thse types of fields and you are rapidly through with most of the form then you can start cutting and pasting GLA, MLS number, addres etc. You almost never need to type anything! At first Id print out all the listings, keep six pages on my desk and type all that stuff into the bpo form. Yuck. Using this method I can do fifty a day if I had the orders.
Other tricks: Some sites want the pictures to be lower quality so they load faster. Even if they dont, to use lowest resolution on your camera results in faster loading photos AND takes less space when stored in your drive. You can BULK REDUCE all your photos for better space on your drive by using FastStone Image Resizer Its a free program.
Some sites only do best with a certain browser. I hate Google and everything about it. They are a insidious invasion of privacy and work with the government. They are a monopoly of the worst kind, Download Firefox if a bpo company wont work with IE. Pardon my typing/spelling Im using one hand today, hurt the other one. Already edited this about five times.
Thank you for all the info. Good info!!!!!
The style question is one of common sense. In my location most homes are ranch, cape, split level, 2 story or double-wide. Experience and learning by doing is the key.
With regards to fees, many companies will negotiate if you can conditionally accept or state your fee in the reason for rejecting an order. I don't start my engine for anything less than $60, though I am in a rural area.
Please, please, please take some classes. If you are not experienced in BPO's then you are not doing the Client justice with false data. Inexperienced agents doing BPO's lower the rate for us that are experienced and can provide true factual data to the client. If you do not want to do classes, I recommend you "shadow" and experienced agent that can show you the correct, legal and ethical way to do them. Good Luck!
William, send me your email address and I will forward you a guide on home styles.
Thank you Irma
Wiliam look back a few answers---I gave a general list of styles. Your local board or MLS should be able to give you the same type of info. You can also use a search engine to look up styles. Dude, again dont overthink it! I use 'ranch' or two story' for almost everything. Once in a while I use 'split leve'l or 'more than two levels'. 4500 BPOs and its never been a problem.
Something I dodnt think I mentioned above---regarding adjusting for number of bedrooms, I dont think there is much of a 'desire value' between 3 and 4 BRs. Consequently, I almost never adjust for those. The smaller the GLA, the more it matters and I will between 2s and 3s. There is usually a GLA difference between a 3 and 4 so I adjust for GLA by a set dollar amount per sq ft correlated to our local costs. Remember extra sq feet are not as expensive as the original per foot cost of the home because that included everything from foundation to fixtures. I use about $28 for condos and smaller or inexpensive homes, $38 for medium value homes and $55 for the large custom homes in expensive areas. Its never been questioned by any BPO review. On multi bedrooms homes such as 4,5,6 and 7 bedrooms, again very few buyers will have need for tat many bedrooms. Unless its a specialized home meant for resi care or to appeal to big families, its all just GLA