What is your conversion ratio (in percentage) of BPO's completed to REO listings?

So far...0% after almost a year of BPO's, sigh.

very small. Less than 1%.

But until recently we had very few REOs in our area. It's starting to snowball though, I imagine that number will grow exponentially as the year goes on.

The percentage can be very small. And it is made smaller by the fact that many of the companies that one works with are actually BPO mills. There is little or no chance with these companies.

While putting time and effort in on BPOs seem to be a right of passage, most of my REO properties came from getting myself known and then regular contact with the companies that handle them.

Recently I contacted such an asset company to ask about a property that they supposedly had but was not yet on the market. While it turned out that it was already assigned, they turned around and asked me what areas I handled. Within two weeks I had 2 listings and another 2 in the final stages.

Oh, I never did the original BPOs on any of them.

BPOs can get you known but don't depend on them to get you listings. You need to be a bit proactive as well.

Steele