...............
So, I do feel that more than likely the BPO business of some agents will decrease or may be eliminated altogether. But not for the fuzzy-logic fuzzy wabbit wool-gathering stream of consciousness loose association non-reasons of the OP.
We have to give DD due praise for the well expressed and thought out scenario, of which I agree with in part.
What I don't see happening now is that BPOs are becoming more like appraisals, more superfluous data required for sure, but not the same valuation modeling used. (Granted there are many poorly conceived forms and companies) What happened after the Savings and Loan crisis is similar to what we are now digging out of, so I see the end results perhaps being that loan guidelines being enforced and perhaps tightened, and the use of other instruments of valuations of assets becoming more and more an AVM, perhaps to where agents only verify and/or input data, and probably for far less then even our current rates. This might take a few years - or it might come more quickly. A factor I hate to mention that will speed up this process resides with which political party has control, as it stands now, it is not looking good
As far as needing to be a broker in the future to do appraisals - I see it that way now. In the states I am familiar with, a non broker agent needs to work under the supervision of a BIC in order to have their license active. So, whether the BIC is actually supervising their agent doing a bpo or not, I would generally think they would be responsible any action of the agent under them where it relates to real estate, bpo included.
Education to perform bpos better, I don't want to pop anyone's balloons, but there really isn't any education you can get that will give you the experience needed to actually prepare a green agent to do bpo work without supervision. I have completed most classes and even pointed out mistakes to some schools in their information, which is the reason more then any that I do not generally use the alphabet soup that comes with them.
Stating the obvious - our industry is changing, and in my opinion faster now then anytime in the past. With technology that already exists, data bases already created, we are making a living on borrowed time. IMNSHO, this will affect general real estate as much as our niche. If you want to keep earning a living with real estate, be flexible, studious, observant and tenacious and accept change.
I see investing, management, partnerships, buying low and selling high, as staples for us. Look at any real estate deal - what are the basic fundamentals that simply cannot be changed and what are the areas that 'could be' - base your decisions on that.
Anyway we slice it - things will change and as the many other threads here about the same thing show, there are as many opinions as to what the future brings as there are people willing to post.
Make hay while the sun shines
(Nellie)
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