America's Largest Social Network for Default Real Estate Professionals
I'm in a remote area where it's now taking 4 to 6 weeks to get an appraisal and they are charging close to $500.. So when some one needs a BPO in this area I quote from $100. in area and then up to $275. when it's way out there. So far I have lost a few to some new agents but that's ok because I'm just using them to supplement my income and keep me busy. So get a grip and stop working for $40 and $50. when we have sometime hours involved in finding comps of dealing with way to many fill in the blanks.
I'm thinking about Nicol's program that fills in the blanks on BPO'S any one have any comments about her program?
Those auto fill companies are the reason the BPO business is going away. They also provide the auto capture software for BPO mills. They will not tell you that because the asset managers are not suppose to allow it because of the security risk to the banks. The software program they are using is just like a hacking the computer. It interrupt the email blast so the orders are re-routed to a particular location. That is wrong and a security risk.
Some agents and one SoCal real estate company that I know of, that I won't name, will outsource their order capturing to countries like the Philippines, Vietnam and China. They'll have people babysitting your BPO accounts to capture any available orders the second they pop up. They'll take a $3 per order cut for doing it. That way they can get around the "auto-accepter" software that agents are not suppose to be using. These outsourced companies will also do your orders for you for an additional fee. All you have to do is go out, take the pictures and upload them into the order. The only thing is you have to allow access to your MLS for them to search out the comps. In my area that is a major violation that can get you in a bit of trouble if you get caught.
Auto accept is what is killing you getting BPO assignments. I can be sitting at my computer an order comes up lets say from RRReview and all you have to do is open the email and click on accept. As fast as you do this the order is already done. Alltisource, SAMReo, Clear Capital, and many more fall into this group. I have talked over the phone to people about this at these companies and they all say they do not approve of auto accept and they will look into it. They don't. They don't care who does the BPO as long as they get it done. I agree it is like hacking into the system but they just turn a deaf ear.I have been with Clear Capital since 2002 and use to get alot of orders. Last year I got two orders. I am told that there are alot of agents in my area and I ask them if these agents have been with you for 15 years like I have been and they just mumble out an answer. I tell them also about the auto accept and they say the do not approve but again they do nothing about it. Once in awhile RReview with send an exclusive order directly to me and I can accept it and do get it done. Throwing BPO assignments in the air and lowering pricing is just the way it goes now. As far as auto fill companies credit for coming up with the idea as it is just a way they make alot of money using out of country slave rooms. Do you really want to give these people access into your MLS using your credentials? I also can not believe auto fill companies are not the same people or are in bed with the auto accept.
Refuse to work for them 45.00 or less for a BPO, I just laughed at them and hung up.
Finally received a check for December BPOs
That was actually pretty fast.
I received a check yesterday for $80 for a BPO I completed on 12/15/2016!! Slow progress!!
Yes, they are slow, but they do pay!
A rep from Valuation Vision called me today and asked what my fee and turn time would be for a BPO in Yelm, WA which is about 2 hours away. I just threw out a random number ($200) since I didn't think they would approve it and I didn't really want to drive that far. Well guess where I am heading first thing in the morning???? Be careful what you wish for!