I'm thinking previous BPOs too. I am starting to see an increased in BPO to REO listings. In other words, I did the BPO several months ago and then get it as a listing. The shortest time span was 3 weeks, longest was 13 months.

I was told when I first got into the serious side of BPO's, "plan on 6 months of completing quality orders and the REO's will come". I swear, it was almost 6 months to the day when I got my first REO. My mentor failed to advise me of shadow inventory, though......lol

[quote=Doin' bpose]
One pronunciation Biyobe is BYOB. Did you earn this nickname in high school or college? [/quote]

No relations to the standard meaning of BYOB

[quote=RecoveringREAgnt]Here we go with an straight question then:

I've attended two of the FAREO conferences and got one listing and sold it in no time for a Cash deal, after that they told me I was going to be a preferred agent. But it never happened so here I am still looking for the way in. Although, some of the fellows that I met there were loan officers with mortgage companies and they got more properties than realtors. How is that possible?[/quote]

Hi Recovering, attendance of any conference in this industry, not just FAREO's, carries no guarantee of future listings. Many times it is based upon location to the property, prior agents that have been used and clients requiring a middleware system (and the agent being registered on both the middleware and an outsourcers system). I am not sure about how a mortgage company is listing properties, it must be that they also have a real estate division? We only list with agents that have registered with us and provided their license number.

[quote=Keypoint]Welcome,
I just received my 2nd Listing from FAREO this week, I am just wondering what I did that got me these listings. Was it doing FARVV BPOs? Registering and doing BPOs for RES.NET/USRES? Emailing the AMs?[/quote]

It most likely is that you were already in our system as well as res.net and were in the right proximity to the property to be selected. FARVV and FAREO are owned by the same umbrella, but are sister companies. Working with one does not relate to business with the other.

Well Biyobe, I've been register with RES.NET and REOSource for about 2 years, I have talked to almost every representative asking for listings and to verify if there is something missing in my profile (they said that everything looks good) and for the love of God, they had a listing available in the area and they called my company and the agent that was on floor got the call and obviusly, the listing. Now he received that listing and several more after that and he doesn't even work REOs/BPOs.

Biyobe - can you shed any light on how we can tie FARVV BPO and REO together, somehow?

Many states allow brokers and agents to complete BPO if they are doing so in anticipation of getting a listing, but with no actual tie in FARVV with BPO and REO, the new BPO agreement we have been asked to sign appears to place a great deal more exposure for us - without any greater benefit - as in access to listing the REO. Shouldn't' both FARVV REO and BPO work together on this?

Respond if you would where you feel it is best.

Thanks

Do you think it's even worth signing up with them on their website? I'm on Res.net and Equator. I've gotten 2 listings through Res.net with companies I've never signed up with like USRES and NREOB. They found me and called both times.

Unfortunately they are two completely different companies so at this time I do not see any possible tie in coming.