7222 - no need to be so sensitive.

If you can't take the help Peace gave you, freely, which helped 'you' get your job done, try calling M2M next time on a question like that and see what happens, I would love to hear that response. Boiled down, you probably would not have to worry about their QC, deadlines, orders, ever again.

Peace ☼ - please continue to help the newbies out, but since it wasn't handed to us on a silver platter - make them earn it a little more.

Now as far as the last statement where you say you were; 'waiting to see', well you certainly are making a memorable impression on the members, and I doubt anyone believes that.

Once again - no good deed goes unpunished

I agree with Peace.This is why appraisers are in a rage against bpos. People who do not even know what above ground sf is are performing them. This is most basic of information.

I don't think just appraisers should be concerned about that - I want to dismiss this as the poster had a brain disconnect and was in a panic when asking that most basic question, heck I would be just as concerned that the person actually had a real estate license. hehe - hey we've all seen this and I know my brain malfunctions now and then too.

Doesn't that hurt (y)our feelings when we know that is the competition that is getting (y)our work and setting the $25 fee

Understand - I want to believe the poster here just had a 'moment' - but we know there are others that function at this level consistently.

I still need an answer to my previous question from any BPO agent that does not mind the question. Please keep in mind everyone had a starting point. Thanks for your help.

(I hope that's the question you're referring to.)

In my market, Listing Prices for residential dwellings had usually hovered around 9-11% above what you could expect them to ultimately sell for (if properly priced).

REOs and Shorts have thrown some variant data into the mix; but because I'm making a judgment on what will be an attractive price for the Subject in a retail market, so I still hang my hat on this old model . . . . and that appears to be one aspect of this valuation process that few ever question.

So, if the asset is considered to have a value, and will ultimately sell for, say $150,000, then I'll probably recommend an ask of $166,900; an underlying value of $80,000 will command a list of $89,900.

Look at your own solds (in the aggregate) with a "normal" DOM and consider what they were listed for and then what they finally sold for . . . . that will guide you to the extent to which Listed Prices are typically being discounted, (on a percentage basis) in your market.

Some Sellers still expect to obtain offers equalling their asking prices; but that reveals they mis-understand the psychology or behavior of the marketplace. You should not have that problem with those reviewing a BPO.

If this is the question you you 'still' need an answer to - then my answer remains the same.

You just need to 'think' about the tools you have have at your disposal and use them. The "How to" is extremely easy to answer but it is a moving target you'll need to, and should be keeping track of anyway - even in typical real estate.

IMHO just handing you the specific answer to your question does not encourage you or teach you how to figure these things out for yourself, which you'll constantly need to do on your own just to be successful in basic real estate of this niche portion.

The answer to most every question you'll ask is found by data mining your MLS and paying attention to the questions asked of you and what can be determined by the data you have access to.

So if you were to try and take what I say and apply it to the questions asked of you - what is the first thing that comes to mind in what needs to be done - and no waiting for a clearer answer is not it

MY question is - What MLS System(s) do you use?

The MLS System(s) I use are Paragon and FlEX.

I was just contacted by an Asset Management company with a listing but requested a 30% referral fee after commissions paid. I asked if they held a valid real estate brokerage license and was told "no". When I simply suggested that I was not sure if I could pay a referral fee to a non-licensed entity the asset manager quickly said, "never mind" and hung up leading me to believe this can't be a new question AND that the asset manager knew this would be an obstacle we couldn't overcome. I have two concerns/questions (1) Why a referral fee? Why not just reduce the commission accordingly? (2) My understanding of Virginia state law is that I cannot pay a real estate referral fee to a non-licensed entity.

Hmmm. Did they ask for a 30% referral fee to be paid at closing (which is how all of our AM companies do it) or did they expect you to write a check after closing.

Most of our AM companies charge a fee. 30%, 35% of dollar amount or 1.5% of the total commission percentage.

At least in FL you can give a referral to a buyer or seller whether they have a license or not. Sounds to me like you may have just killed a goose. Could use a bit more detail on this. Feel free to PM me additional detail if you do not want to post it here and we can discuss it.

If the market depreciates, I determine what the depreciation is and price it as many percent lower as the depreciation is. However for each market and location is different, but usually, if the market is balanced or slightly depreciating I put 10% under the market value.

I am a broker who does a lot of bpo work. I am toying with changing from PC to Apple. I have been PC from the beginning but I do a lot of multitasking and it seems that Apple is faster and more able to handle bpo multitasking....any thoughts anyone????

Hi all.....

I'm new to BPOs just signed to several companies and got 12 BPOs last week. I've only got 1 this week. I thought I was on to something. Is it always this up and down?

UZandBUZ, as a longtime Mac devotee I have to suggest you just stick with your PC. My $300 Toshiba Laptop has less issues doing business than my substantially more powerful MacBook Pro. All the different sites and forms you encounter will function as intended (for the most part) with your PC. I tried for a long time to use my MacBook (running different browsers and virtual OSs, etc)and finally admitted defeat - and I'm much happier for it!

I've even gone so far as to revert to IE for BPO work!!!

Good luck.

How do we get access to the forum that is private where we can discuss REO mgmt companies? The entire reason I signed up was to see how agents view REO servicing companies.

thanks!AM

Actually, yes. It's the industry....