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I know some day soon our days as BPO specialist will end, this could be the start of our demise. This article refers to appraisers however the software in use today will soon make us all pretty much obsolete. Any comments?
We have all heard by now of Deep Vein Thrombosis, a debilitating condition caused by sitting still in one position for hours on end, often in a plane on a long-haul flight and in a tight and cramped position. But just like air passengers, who are often cruelly crammed in to…Continue
Added by Pam Maglione on January 28, 2015 at 11:48am — No Comments
Is the new Fannie Mae Appraisal Program helping or hurting? What are the basics of the program? Well, the real estate giant is planning to offer mortgage lenders access to proprietary home valuation databases, so that they can use it to assess the “accuracy and risks posed by the reports…Continue
Let’s be honest, how many of us can say that when handed a Real Estate manual, we jump for joy at the thought of having to actually read it –much less understand and retain what we’ve read? “Fifty pages on how to properly complete a real estate BPO . . I’ll just wing it.” Chances are we either end up skimming over the literature while thinking of all the other things we could be doing or we “shelf it” it and scram…Continue
The Wisconsin housing statistics are in for this December of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
The housing market ended 2014 on a strong note with both existing home sales and…
Added by Michael Collins, CDPE, SFR on January 20, 2015 at 12:30pm — No Comments
Get ready for major changes, this isn't your grand parents Real Estate market anymore!
Continuing Education Classes start as low as $29.95 for 3 hours of continuing education credit. Some classes we offer are BPO Simplified, and REO Simplified. If you need CE credit for your license, why not get it through us? To learn more, visit REOPro's Continuing Education tab and…Continue
Most organizations, people and teams like to come first, but when you are top of the league in the foreclosure division stakes, it’s not a medal your team will be proud to wear. This is the wooden spoon prize, the unwanted accolade and a position not to be proud of.
After completing a 2014 P&L this is what became apparent:
1,000 BPOs completed
$30,0000 expenses to complete BPOs including a part time assistant.
That means, just to be in business to complete BPOs we need to budget $30 per BPO.
Therefore at $50 per BPO, on average -
we net $20 per BPO before social security taxes and health insurance.
Anyone who completes BPOs for $35 or $40 cannot possibly be making a profit.Continue