I got pretty fired up today when I was asked to provide digital photos of all listings/solds (never had beena asked before this time) so I did some research. We did approx. 45 BPO's for them in the last year. 3 actually led to listings but were awarded to a broker (the same broker got all 3) not in our area. Upon calling USRES we were told we would revert to a $50-75 fee per BPO then when we acquired a listing as a result we would then go back to the "free only" BPO fee. Have any of you guys gotten paid in a timely fashion from them? Thanks to you I dropped brokerpriceopinion.com from our repetoire.

I had the same thing happen today....they ordered a BPO and I told them I would not do them for free anymore, and then they said they would pay $50-75, and once I got a listing I would also revert to the free BPO's again. I do not trust them to pay though.....I wonder the same thing about their payment. I read on here somewhere about how they claim you agree to no fee BPO's when you try to get them to pay. (And it states on the BPO form that it is in echange for listings and agent is aware it is a no fee BPO)-read the forms. I talked to another agent who has done many as well as her mom, and they have found that the listings they have done BPO's on were given to other agents, and they even pay RESNET the REO side of the same company the $200+ fee to be members of the REO marketing. Does not make sense. I just think they are not worth the time & effort when there are so many other paying companies, and it is a scam!!!

I did one BPO for them in July and have not been paid. I told them I don't do free BPOs so they said they would put me on their paid list but I wouldn't get listings. I said that is fine. Never have saw a dime. I'm going to get on them today and will resort to faxing if necessary.

Just an update - I contacted them and they said they requested an invoice from me twice and never received it. I told them no one asked me for anything. She said it's stated in the order to send an invoice. She was a bit snippy in her e-mail. I'm done with that company. I don't think the way they conducted themselves with me showed any respect for me as a professional. I don't need them.

Same feedback. Beating the brains out of the brokers and agents for free BPO's that they are paid for and no listings. How long before they blow up?

They keep hounding me for the same BPO they claim they are going to pay me for, I keep replying with remove my name from the list of vendors....lol. They will not have anyone to work for them soon, if we all stick together! It is absolutely ridiculous that they cannot even pay a minute little $50 fee, that they would have to pay an appraisor $300+ for the same thing. I feel like asking these girls that send the orders out if they sit behind their desk all day long for jollies and for FREE!!!!! Come on, we are spending money on gas, and our time on these jerks for them to slap us down and not pay for or at least even recognize and reimburse us for our time and expense we incur for them!!! BOYCOT them, I SAY!

I got an order from them the other day, never accepted, phone, email, or otherwise, and I keep getting those stupid reminder emails, and I wrote back and let them know that if you don't hear from me, dont assume I want it. Then I asked to be removed from their database(which mind I've done tons of times before), yet I still get request from these cheap skates,duh!

I really do wonder how they stay in business with all the lies they tell!

The idiot lady with USRES that sent me the e-mail obviously gets her jollies via e-mail!

Here's the "banter" following the initial BPO request:

ME: Thank you for considering us for your BPO needs.

Unfortunately, we are not able to support our business by providing quality BPOs at no cost!

The companies that we currently perform work for willingly pay us a fair price within a
timely manner AND provide REO listings!

Our fee is $XX.XX. I'll be happy to refund the cost of the BPO back to your company IF and WHEN we receive a listing as a result.

Let us know!


USRES: I can only pay $XX and I have found another agent to do this BPO thanks
anyway

ME: Your form indicated that USRES would not be paying anything for the BPO. I was never given the option of performing it for a fee. Please keep us in mind for future fee based BPO work.

Thank you!

USRES: But you charge $XX we can only pay $XX

ME: As I own my own company and charge according to many factors, I elected to start the ballgame at some amount. You NEVER offered ANY amount, and your form indicated the same, so therefore I had to assume that you don't pay for BPO work!

USRES: Are you willing to do this BPO for $XX?

ME: I thought that you already had someone else to perform the BPO!

USRES: Are you willing to accept $XX?

USRES: Well???? I'm waiting!

ME: After witnessing your style of doing business, I'll have to politely decline this and any future work. Best of luck

USRES: Too bad for you. We have a lot of work in your area and you'll not receive any listings! You lose!

Geez.. don't they have something better to do than try to bargain with agents and **** them off?

You do have to fill out an invoice for EVERY BPO you do for them. I know that's kind of small print stuff, but it is in their engagement letter.

They do not provide an invoice form, and I think that catches many agents unaware. Agents fill out and return everything they are sent and then expect to be paid. Since USres does not have an invoice form, I pulled one from Microsoft Office and modified it for my own use in billing them.

When I realized they were several BPOs behind in paying me, I checked my records and found that I had not invoiced them. They have paid me for the work I invoiced.

I actually did three freebies for them before I did the math and told them to switch me to the fee-based system. With an average REO property listing in my area for $80,000 or far less, I'd barely come out even after doing $500 worth of free BPOs and managing the property until it sells.

My BPO work simply has to stand on its own, because the vast majority of BPOs do not result in listings.

I work my tail off on every single REO, and we all have a higher level of liability for those properties than for other listings. Agents actually deserve MORE for marketing/managing an REO, not less, than for a traditional listing--which does not require us to manage the property. OK, I know getting a HIGHER commission or management fee for REO work is a pipe-dream, but we have to draw a line in the sand someplace. For me, that line in the sand is that I will not do $500 worth of FREE work to get a listing that I'm being underpaid to manage and market in the first place.

LizL

Interesting thought, if this company will not and has not paid for completed bpos under the terms that if a listing comes from the bpo then the bpo is considered a core service as a listing broker and is therefore compensated for by the commission, i wonder if the end user (their clients) should be invoiced directly for every free bpo that didnt return as a listing as it was the client that benefited directly from the labor needed to value the properties but did not pay a re commission on that property for the services rendered? Thoughts?

The problem with your rationale is that the agent who does the free BPO has no contractual relationship with the end user (the USRES client. The real estate agent probably doesn't even know who that end-user is. Then there's also the reality that the agent agreed to do a "free" BPO in return for the possibility of getting a listing.

We do free CMAs all the time for conventional clients, who may or may not choose us as the agent who gets the listing. In fact, that potential client may even decide not to put the house on the market after all.

Of course, the difference between USRES and a traditional client is that USRES will be paid for the BPO that some agent did for free.

"Of course, the difference between USRES and a traditional client is that USRES will be paid for the BPO that some agent did for free."

No charge BPO's are typically only performed if one is the selected LISTING BROKER. If you personnaly perform free BPO's in the hope (as little as that may be)of possibly getting a future listing then I would suggest you rethink your business practices.

I mean if this is your approach, then why not just send them $50 and see if your free bpo to listing conversion increases

FOSQBJ,

If you are addressing your comments to me, you are preaching to the choir. I no longer accept USRES free BPOs in hopes of getting a future listing. In markets where an REO property can be a $250,000 listing, some agents find the USRES arrangement to be fine (10 or so free BPOs=1 listing), but in my market, that doesn't make economic sense. If you do a search for USRES on this forum, you'll find at least one agent who gets numerous USRES listings every year and is quite happy with the arrangement.

Many of us on here, me included, are experienced REO agents. I guess it never hurts to rethink a business plan, but I can't remember ever being receptive to sarcasm.

I did come across as badly, but it seems to me that the realty business is being devalued by firms like this. Please accept my sincere apology.

Thank you, FOSQBJ, and I accept the apology. I completely agree that the "feebie" attitude devalues the work we do! In the case of USRES, however, the agent has a clear choice between free and paid. Each agent has to do the math and figure out what makes sense for them.

I wasn't being sarcastic when I said I believe agents should be paid MORE for handling REO listings. Of course many REO listings are actually discounted listings when agents pay referral fees.

Welcome to the board.