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The reason $30- $40 BPO's exist is because dumba** agents accept them and do the work.
If no agent did a BPO's for less than $150 then that is what the going rate would be.
Why anyone even messes with BPO's is questionable...why anyone messes with them at $40 is mindblowing
I haven't done any but looked into doing them until I was told I would not be allowed get the listing when the 'bank' decided to place the property on the market. They wanted to pay $30. I agree that $150 would be more acceptable.
That is what you call Fools of the Trade. Will $40 BPOs pay for the use and gas on your car, supplies? My fees start at $115 for a drive by. Interiors start at $140 and rush (24 hours) orders add $25. AND THEY PAY IT! By the way, what is your knowledge worth? Yes, I do pass up the $50 ones. I leave them for the “Fools of the Trade.” They may wake up one day! I would rather do 1 BPO for $115 than 1 at $40.
Thanks for that information! I do know one agent that will ask for an increase because of the distance, gas, etc.
Would you recommend doing this to all bpo companies?
Yes, I recommend asking for a fee increase to offset cost and time. Some companies will not increase their fee, but, many will give it to you, especially, if they know you get assignments in on time and are professional in your analysis. Just like asking to close a deal; you keep asking.
that is a question you should know the answer to, I do not go a long distance for less that 100.00
I do not want to tell my age. But, do you realize the same companies paying $30 to $40 to complete a BPO use to pay $65.00 to $100 per BPO and if you complained about distance, weather or mountain travel; they would bump it up to $110-$120 to get it complete and submitted in 3 days. What happened? Now, these same companies (I should name a few-but, you know who they are) will tell you, "they have plenty of agents that will accept the assignment for $30. Do these agents realize that after the cost of gas, MLS time, vehicle maintenance, E & O Insurance, etcetera. You can earn more by working at a local McDonalds Resturant- they pay $10.00 an hour in many cities. Maybe you should rethink being in real estate. Accepting assignments for $30-$40 lowers the standard for all agents. I don't understand how you can earn a living completing BPO's for $30 or $40. These agents don't seem to last very long in real estate. Herman
I agree with you 100%....bottom feeders who are looking for cash flow because they do not seem to sell any real estate
They pay $15/hour minimum wage in Seattle now! I'm thinking about getting a part time job!
they were probably dissatisfied with the $30.00 agent doing poor work. Good for you
The notary public doing escrow sign off is getting their fees chopped off. Drive 35 miles to someone's house explain all those disclosures and forms now get ~$100.00. I disagree that their value to the market place is low.
The BPO QA who gives one a bad time reviews tons of rpts often receives < $15/hr. Not sure what their quota is sitting there day after day.