Things are not going well. Can't get an REO to save my life, was gaining momentum on the BPO side but that has suddenly dried up despite reassurance that my work is just 'great' no problems, they just don't have any work (which has GOT to be crap because I was doing PLENTY of BPOs in October, November, and December for CC who I am still mourning). Either I really suck at what I do (which would be a shame because I love what I do) or I just really suck. What used to be a $700-900 months has now been a $50 month so far. I just don't get it. I've been at this for 6 years, fairly new to the BPO market (1 year in) and have been actively pursuing REO listings for the last year as well. Maybe it's just me. I can never catch a break. It's my life theme apparently. But the point of this thread is NOT to whine because if I even START I will have such a massive pity party I'll never be productive.

SO...instead of being a crybaby I'm going to ask you fine people. I did take 3 years off to stay at home with two babies, so really I've only been active for the last year. But I think I've worked really hard, I've searched this forum, appraiser.com ( I even went so far as to REGISTER people) and a bunch of other sites for so long that sometimes I forget to feed my kids. My brokers are great, they've been very helpful (for the most part)and with the exceptions of a few setbacks I feel that they've had my best interests at heart (hey, we all have to make a living). I never miss deadlines, most of the time have a 24 hour turn around on my BPO's (which frustrates me cuz then they sit in QC two days after they were due) and try like hell to get the most accurate market value. I've signed up with so many freaking companies that I get excited someimes thinking I find a new only to end up disappointed because once I get there I realize I've signed up already. NOTHING is selling unless it's REO owned and my Broker has the crown there and a few other agents in the ocean of REO sharks around here. I just don't understand, I don't know why I can't get anywhere. What am I doing wrong? And no, I don't want your lists, I just want to know if any of you have been through this and how did you overcome it?
Does ANYONE have anything constructive to suggest? And if it helps you at all, I'm NOT in Georgia, I'm Northeast. The "Roswell" has nothing to do with my location.

Really, I don't need your lists, I am POSITIVE that I've signed up with every stinking mill there is....BPO or REO. I'm not allowed to sign up with any of the companies people in my office already work for anyway.

FIND ANOTHER WAY!

Seriously you aren't the only one to have ever gotten down.2 years ago I became sick and went to the emergency room many times trying to figure out what it was.Eventually they found out it was my gall bladder and I had surgery but the whole ordeal set me back for 5 to 6 months not being able to work.I am fine now and doing great.

I believe REO isn't as great as you think it is.1 year from now the REO is going to drop significantly in inventory and many agents that got in will get right back out.

Personally the road to wealth is through commercial real estate investment.I see it time and time again.Could you not be a buyers agent for the major reo listers?These agents make big money working the leads that come in for the REO brokers.You might have been in the business for 6 years but are a newbie in REO.

Just like in Commercial real estate I had to start all over and learn that business to be successful.

good luck

Bpo's are up and down no matter how many you sign up with.

Don't give up!!! I am in the Northeast as well and while things are sometimes slow, they sure do pick up at other times! Giving up will just work to ensure that you never see success on the BPO/REO end. Keep working at it...I know you said that you've signed up with every company under the sun, but every time I think I have, I always seem to find new ones. It doesn't sound like you really want to give up...so don't.

I am sorry to hear that I kind of hit the same snag, my solutions was one that most know about , "Prayer" I prayed and prayed and talked to God, Jesus Christ to send me work, try walking in Gods steps. And boom! bpo's started coming in, well some may be skeptical or what not but inside I feel God has provided. Just keep faith and hope alive. No matter what in the end everything is gonna be alright.

I think the secret is varying streams of income until you hit the one thing that really works, and then investing in that to the max.
I am performing BPO's about 25 a month. I am trying to get in with the companies that will eventually give me a listing. I am also sending correspondence to my sphere of friends and family about helping them buy or sell (I have two sales in the past 3 months, and I just got two residential listings). I also bought and sold a property that needed cosmetic work and made a pretty good profit. I am new at this, about 10 months in. But I am just trying different things to see where I have an aptitude and which will pay the most. If BPO/REO stuff takes off, then it makes sense to invest most time in that. If residential stuff takes off, focus on that.

I am too new to give advice. I am just saying for me, trying as many things as I can has been the key and seeing what works.

I have seen a steady decline in BPO order in the last three months. I don't think what you're experiencing has anything to do with you personally... the whole financial and real estate industry is upside down right now.

Roswell, try to stay positive. I am a praying person as well and I know things will get better. I have two small babies and I have to feed them so I work during the day and tackle BPOs at night. I am sure that is against some sort of realtor code. If I had to depend on just BPO income at 30 orders a week, it would not be pretty. I am a notary signing agent also. The key is diversification and prayer.

Things will turn around.

God bless you.

You are NOT allowed to sign up with any of the companies people in your office already work for? Wow, that is not good. In my office, at least 3 agents are working for IAS, 2 agents for CW. Maybe change your office? Sign up with companies one more time? I picked up some companies after 2nd time.

Prayer huh? I'm a praying gal but I never thought to pray about that. I will definitely add that to my nightly prayer. It's reassuring to know other people have gone through this as well. I was trying really hard not to take it personally but when you go from busy busy busy to bored bored bored, it's hard. The last few weeks have done NOTHING for my poor Realtor ego except kick it. Thanks you guys, I really do appreciate your suggestions, I was seriously considering putting the license in escrow. Everyone around me claims it's really picking up, leaving me thinking.....well it picked up and left without me.
But, I'm nothing if not determined, even if I need reminding every now and then. Thanks.

Realtorca....no, it's our office policy. We cannot compete with the other agents in our office, not with buyers, sellers, or BPO/REO work. Ever. It doesn't bother me though, I'd really hate for someone in my office to steal my list that I worked soooo hard and have taken MANY Advil to compile. I just hope it pays off someday.

Super Realtor...Im glad you're ok! Commercial is where it's at huh? I'm going to look into that. Generally I don't like to do what everyone else is doing anyway. I don't know of anyone doing anything Commercial around here.

i dont know if that works for people who dont believe the way you do. maybe you should have said "pray to whaever God you believe in". and if you arent comfortable with saying that, maybe you should have just given some business advice.

this business isnt easy, and its hard to get going and stay going. i dont know how much time your putting into what you do daily, but im usually up till 1 or 2 in the morning working. if im not doing bpo or reo work, im looking for more. unfortunately, b/c of the cuthroat nature of this business, you cant just depend on staying 1 step ahead of everyone else, you have to get several steps ahead, maybe feet, maybe a mile!

I gave up on even trying to get REO's, and honestly after doing a few I don't think I'm missing much.

As far as signing up with new companies for listings - I've been an active agent for five years, but I too took some time out to sell new homes. Well... I don't care how many you sell, they're not yours in the MLS, so when they ask how many you've sold or listed in the past 12 months, you have nothing to enter and you can't get your foot in the door.

I never liked listing property anyway, so I've concentrated solely on the BPO side. And it drives me nuts more often than not. I've been really lucky with them so far, but I have bad weeks too. Maybe it's just an off time and it'll pick up. Maybe you can concentrate on getting regular clients to work with, while things pick up for you? I know that's easier said than done though.

I don't have anything constructive to offer, but I do want you to know that I've been there and I know how bad it sucks.

Roswell, if you do nothing else in the next week, read pages 28-34 of "Eat, Pray, Love" by Elizabeth Gilbert. Even better, read the whole book. It won't cure your ills, but it may put you in a more positive state of mind, which you will have to have to go on!

Don't give up - we are in this together. And once you write your petition, know I signed it. (You have to read the passage to understand.)

Roswell, I seem to have my ups and downs. Some months I'm so swamped with bpos I can't even see straight, then go a couple of weeks with only 4 or 5 orders each week. Each time I think I need to start looking for a part-time job, it changes. I'm having my best month ever this month! My broker is calling me the "top dog". In October, November, I was considering getting out of the business.

There are definitely ups and down in this business. It's wise to develop multiple income streams to help with the business fluctuations.

ebb and flow...and I quote Socrates...beware of the bareness of a busy life...ps... everybody panics around the first of the year

Thank you you fine people you. This has just not been my week. As selfish as it sounds I am sooo glad to know that there are times for you seasoned vets that your BPO business just keels over. I guess the thing I'm mostly worried about is CC. I THOUGHT I had worked my way up. I am so worried another agent has become their new pet. I'm almost devastated really.
BUT.....you have all given me great suggestions and I am feeling rejuvenated already. I've searched again and signed up with two more companies I knew nothing about (MGIC and BOA....I figured now was a good time) and I am way more optimistic than I was. I just keep telling myself 6 months from now this will be a memory.
Tomorrow I think I'll go knock on some FSBO doors, haven't done that in a long time. Guess I'd better practice up on my charm and wit...LOLOLOLOLOLOL....seriously, I suspect my 'game' is rusty.

And while I'm out attending the FSBO party, I'll stop by the library. Thanks TB, I definitely need a more positive state of mind...I may even have to head to Barnes & Noble (all under the guise of work mind you) and read it there, Starbucks in hand. It's a win win.

Maybe you should not tell me what to say and how to say it as I will do the same with you. I speak from my heart and although I agree with you, I must speak my mind. Last thing I need is someone to try to supress my thoughts. It is my nature and I speak my mind. You can feel free to ignore. Likewise if I disagree with you I will either ignore or refuse to take your words. Plain and simple, free country.

Kudos to you two....like politics, discussions of religion can get hairy sometimes, great job on not attacking each other. I believe in God so I wasn't offended at all, but on the flip side, my Father who's an atheist would have been offended. Either way thank goodness we all have the right to our beliefs....be them about God or otherwise.
And you both gave me great advice for which I am forever indebted.

Right. I'm just saying you may want to throw some consideration for others in your nature. I'm not saying you cant tell people praying is a good idea, but I dont know about just saying "pray to jesus christ for work" is something that works for everyone. this board has a lot of neat ideas concerning real estate, and alot of different opinions, and not everyone agrees on this site about this business. but personal preferences in religion is prolly meant for a different site.

This coming from someone in the State Penitentary. LOL. Hey your a cool guy thats all that matters, trust me, last thing I am trying to do is force someone my beliefs. Just speaking my mind, and I love all people regardless of regligion, color or creed.

Roswell -

I'm not doing even close to the number of BPOs that I used to do. Things slowed down significantly a few months ago. Fortunately my REOs are up. The key is to diversify so you don't have all your eggs in one basket. There will be ups and downs in different aspects of real estate so try not to be stuck in a one way rut. You can make a living in real estate in many different ways. The key is to think outside the box and catch the wave at the right time. The BPOs will pick up again at some point just hang in there and diversify. REOs will eventually sneak up on you.

trust me, im far from cool

im a graduate of seminary school, and not meaning to hate on anyone or anything.

Hmmm...... My 2008 is starting similarly slow. I am only up to 24 orders so far this month, about 50% down. I have a contract employee and a partner counting on growing our business in 2008. Just as we have all endured "feast and famine" in this business, I think it is how we apply ourselves during the famine that helps us grow our businesses.

I'd love to offer great advice, or a solution to our collective woes. I don't either... I will say that many of the newbies and part-timers that have tried to ride the wave will not survive the rough spots.

OK- here is the advice- "Hang in there, don't move your business to Orlando"

As everyone else is saying, you just have to keep signing up with new companies and do the best job you can when you get an order. I will say that if I couldn't sign up with companies that others in my brokerage were working with, I might look for another broker (if you are serious about generating real income from BPOs). I am an independent contractor. I have never even asked any other agents in my office who they do BPOs for.

I had a very slow December, only 64 orders. I have already done 48 for January and I have another 9 open, so it can change in an instant. Good luck.

Roswell:

I have an idea for you. I have done it myself and it can work. Talk to a few of the agents in your office that have REO listings. They are too busy to work with buyers and hold homes open. Offer to do open houses for them. Grab a few REO prospective buyers and you are cookin' with gas. This is a quick easy way for agents to grab business when the listings aren't coming in.

I have a few REO listings myself. I hold an open house the first week end after I list the home on MLS so I can get that "new listing excitement". If or when I ever get a bunch of listings I wont have time to do that. I am showing buyers that I met at my REO open last week homes today.

Open houses help agents find buyers, right? We're in a buyers market now, so the agent with buyers is the King.

I also have had some ups and down's in the business. July 2007 was the worst. I thought what am I doing wrong..why is everyone else slammed while I have barely any orders..I never thought about quitting though..I knew this happens and it has only gotten better from there. In the past 2.5 years that was my worst month EVER! 2008 is starting out GREAT! Maybe this month will be slow..but next month you will be slammed! I just take it as it comes. I am always signing up with different companies in hopes of getting new business. All month has been crazy,which I love..I hate being slow. Don't give up, sign up with any new companies you can..don't rely on 1 company though. CC was great for me for about 1.5 years and now they are just very slow in my area. I have had several companies like that, it just happens so I keep a long list of companies that I receive work from on a regular basis.I never rely on just 1 or 2. Good luck...it will come back..just like it does with everyone. I know it's stressful but in the next few months..this will all be a memory.

Angie

I just got a CC BPO. Number 2 for January. I actually called them AGAIN today asking for work (pathetic as it is) and low and behold....a BPO. They haven't forgotten me...they do still like me! OH HAPPY DAY! I was really low there for a bit...lol. And a little birdie told me in PM that another company I signed up with is going to be huge for me eventually. I took advice from that PM and did what that PM told me and IT IS ALREADY WORKING.
So thank you to the person that sent me that PM.....all of you who sent me PM's. You guys really lifted my spirits. And here I thought I was alone in a sea of Realtors.

Roswell,

I got a list of companies, compliments of my broker. However, when I start reading thru this forum last year, I started looking at other companies as well. When I was with C-21, most of agents only dealt with CW and never looked at other companies. Look for closely at the forum carefully, find some REO companies. I'm sure the agents in your company are not using every company we have disclosed in this thread.

Question, how will they know what companies you do BPO's for? Don't you have your checks sent to the house, or post office box? Every agent is signed up with every company my broker gave us on that list with an exception of a few that I refuse to work for. There is one agent that gets all of Countrywide BPO's, me, and the other 5 agents and broker haven't got a BPO from CW since March. (We only have 6, Besides my broker, I'm the only other full-time agent)

Your broker should change his mind about the BPO stuff. Most of the BPO's are on blast. Only a few good companies are auto assign. Again how will you know what other companies your colleagues are sign up with? The BPO companies don't disclose this info to you anyway. Pray. Find a new broker.

Roswell
I am also in the Northeast, and have been in Real Estate for 13 years. The past few months have been the worst I've ever experienced, and I just finally got my brokers license. NYC market is saturated, so many agents signed up now for BPO's , I just can't grab them lately! I just started doing them last month really and got about 15. I thought wow, this is great to begin with. But this month it just died, only 3. I've gotten some orders but in 60 sec there GONE!! I've sat at the PC hour after hour researching, looking for new companies to sign up with. Some, I filled applications out and never heard from. Everyday I look for new ones.
Listing's here are sitting, no buyers. Offers come in and 2 weeks later , back on the market. I do rentals also for investment properties and that's even drying up. So, as a single Mom I feel like I want to give up also and that makes me sad, because I ,like you,love what I do.
I just wanted to say I sympathize with you and feel your frustration.
This business can be tough at times, as for me , I probably will be looking for another job to supplement my income until things get better, but I won't give up on this, I have to many yrs invested in it.
Good luck