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#368881 - 03/03/11 08:16 AM Re: Stupid QC comments and BPO requirements. [Re: Houston Agent]
12 step 4 BPOs? Offline
Veteran Member

Registered: 06/27/10
Posts: 1290
Loc: Land of Tree Huggers
Originally Posted By: Houston Agent
Originally Posted By: 12 step 4 BPOs?
This one isn't stupid so much as just painful to read due to the terrible grammar, but that is what we get when they hire people who don't speak English as their primary language. Enjoy:

"Please provide the comps which is within the subject gla and the Value to be bracketed the subject, I have suggested to you few comps please review and check if these comps are suitable for the subject for List comps there are 4 comps and for the sold comp 3 provide to you."


I need a glass of wine after reading that.


awesome answer!

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#369252 - 03/07/11 10:00 AM Re: Stupid QC comments and BPO requirements. [Re: 12 step 4 BPOs?]
12 step 4 BPOs? Offline
Veteran Member

Registered: 06/27/10
Posts: 1290
Loc: Land of Tree Huggers
Agent previously valued the subject at $437000 in May 2010. Please add commentary to justify the $150000 value drop in the past 9 months, or please reconsider subject value.

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#369346 - 03/08/11 12:31 PM Re: Stupid QC comments and BPO requirements. [Re: 12 step 4 BPOs?]
MassBPOer Offline
Veteran Member

Registered: 10/13/08
Posts: 816
Loc: Mass
Just saw this on a cc form.
Empty pool? How would I know? It's a drive by.
Missing porch?
Missing deck? with a place to check yes or no.
So if there is no deck or porch how do we know if it's missing or there never was one. Unless someone stole them.
Assessor records for this town are useless and no MLS record.
Assessor record just has lot size, GLA YB and room count as 4/3
No baths are mentioned.
Oh well, I'll manage, though.

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#369349 - 03/08/11 01:45 PM Re: Stupid QC comments and BPO requirements. [Re: MassBPOer]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
We sometimes have disgruntled Contractors who will come back and re-possess the pressure-treated lumber of decks for which they haven't been paid.

And sometimes expensive windows and garage doors will go MIA too . . . . but with them, there's a tell-take gaping hole that shows in the photos. That gives you a clue!

_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#369376 - 03/08/11 10:03 PM Re: Stupid QC comments and BPO requirements. [Re: MassBPOer]
....J~ Offline
Veteran Member

Registered: 07/13/09
Posts: 800
Loc: USA
Originally Posted By: MassBPOer
Just saw this on a cc form.
Empty pool? How would I know? It's a drive by.
Missing porch?
Missing deck? with a place to check yes or no.
So if there is no deck or porch how do we know if it's missing or there never was one. Unless someone stole them.
Assessor records for this town are useless and no MLS record.
Assessor record just has lot size, GLA YB and room count as 4/3
No baths are mentioned.
Oh well, I'll manage, though.
It's funny you mention this as I ran across one that had the deck issue today. It was a drive by. It was pretty obvious that the deck was missing as it connected to a side door on the second level which due to the lack of a deck...well lets just say I sure hope that whoever does the interior inspects it before they walk out into air...

J~
_________________________
"Competition brings out the best in products and the worst in people."

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#369606 - 03/11/11 02:17 PM Re: Stupid QC comments and BPO requirements. [Re: ....J~]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
Why do agents "stretch the truth" about their subjects and comps?

Tip to the new: Do NOT lie about the subject's age, square feet, etc, to make your comps fit. You will be found out...QC departments may be slow to pick up on this, but they figure it out eventually.

I've just been going through QC hell because some other agent said the subject was 65 years old (it is 20), and used comps over 100 years of age. One of these was more than twice the subject GLA. Come on now!

A couple days ago...a different company...a different clarification request. This time the subject was a 55 yr old ranch with 1800 sf. They sent some suggested comps. 5 were 2-story houses all built before 1900. Two were manufactured doublewides. Only 1 comp was a stick built ranch. I can see why companies need their QC departments, but how these older orders were approved in the first place is beyond my comprehension.

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#369612 - 03/11/11 03:03 PM Re: Stupid QC comments and BPO requirements. [Re: neudot]
Artiste Offline
Major Contributor

Registered: 06/12/06
Posts: 2367
Loc: Arizona Bay
Originally Posted By: neudot

Tip to the new: Do NOT lie about the subject's age, square feet, etc, to make your comps fit. You will be found out...QC departments may be slow to pick up on this, but they figure it out eventually.


As frustrating as it is for you, at least you get the satisfaction of busting your competitor and knocking him/her out of their system and out of your way.

I went through the same thing on a QC. The other agent flat-out lied about the comps. I hope they disabled his account.
_________________________
Let's take back the real estate between our ears and get green like a sonofa$%^&*

NAFTA is over!!
(if you want it)


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#369615 - 03/11/11 03:16 PM Re: Stupid QC comments and BPO requirements. [Re: Artiste]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
I sure hope they DO bust some agents from the system.

Maybe I should start a BPO school....but nah...that would be helping my competitors. Let them be dumb.

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#369710 - 03/12/11 10:03 PM Re: Stupid QC comments and BPO requirements. [Re: neudot]
....J~ Offline
Veteran Member

Registered: 07/13/09
Posts: 800
Loc: USA
Okay so I had a first today. I had an agent yell at me for reading their comments. I'm not exactly sure where I left the train track to reality but I was pretty taken back by this. My normal gripe I hear is that agents are upset when QC doesn't read comments.

The agent was upset because they had the subject marked in average condition but all the comments they listed stated they needed work. When I went back to them to ask for comps in similar condition or to make adjustments....I was told it was too much trouble for this agent to read comments on the MLS for each comp and why was I wasting their time reading comments and not just looking at the data grid.

So I guess my question for you guys is do you read the MLS comments for the comps you pull? I would imagine the answer is yes but maybe I've been wrong all these years. I know my clients sure read them.

J~
_________________________
"Competition brings out the best in products and the worst in people."

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#369713 - 03/13/11 12:32 AM Re: Stupid QC comments and BPO requirements. [Re: ....J~]
texasgal Offline
Veteran Member

Registered: 05/25/07
Posts: 596
Loc: Texas
Originally Posted By: ....J~
So I guess my question for you guys is do you read the MLS comments for the comps you pull?


I absolutely read all the MLS comments. And if there is something I think the bank might like to know, I state it in the report and state that it's per agent MLS comments. Specific comments about condition, needed foundation repairs, comments about the flood plain, stuff like that.

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#369714 - 03/13/11 12:53 AM Re: Stupid QC comments and BPO requirements. [Re: ....J~]
CandyMan Offline
Major Contributor

Registered: 07/12/08
Posts: 2608
Loc: California
"too much trouble"?......You got to be joking.....that's part of the package. I would have done this agent a favor and said, "Let me do you a favor and put you out of your misery...here's the door".......cya.
_________________________
PONDERISM:

"Life isn't about waiting for the storm to pass........It's learning how to dance in the rain".

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#369716 - 03/13/11 05:39 AM Re: Stupid QC comments and BPO requirements. [Re: CandyMan]
PA Roadkill Offline
Major Contributor

Registered: 11/15/06
Posts: 2179
Loc: The Middle of the Interstate
Comments on the MLS form are essential to judging condition on the comps. Things like "new roof in 2008, new furnace in 2006" tell me the comps is at least average or good. Comments like "Mrs. Clean lives here" and "hurry won't last long" tell me the agent couldn't think of anything good to say about the property.
_________________________
Broker-Owner Thirteen Years REO Experience
GRI,CRS,CRB,e-Pro

Some days I feel like the bug, other days I feel like the windshield



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#369718 - 03/13/11 08:07 AM Re: Stupid QC comments and BPO requirements. [Re: PA Roadkill]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
The types of comments PA Roadkill mentions have become important to me in the preparation of reports. I also will put in "no remarks about upgrades or improvements," or "being sold as is" when I suspect that a property may be less than pristine.

I am in two MLS systems. In my primary MLS agents are required to rate condition: Excellent, very good, good, fair, poor. In translating this for BPO work, good is usually fair, and very good is average.

In the second MLS there is no condition rating, so the condition has to be inferred from the broker remarks and the price.

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#369727 - 03/13/11 11:46 AM Re: Stupid QC comments and BPO requirements. [Re: neudot]
....J~ Offline
Veteran Member

Registered: 07/13/09
Posts: 800
Loc: USA
See and I have always viewed MLS comments as a true sign of how bad the property is. I figure that they would talk down just about anything wrong with the property (i.e. it's not a shoebox sized house its just 'quaint') so if things are mentioned in the MLS comments, they are already downplayed and I should figure it to be about 10% - 30% worse that what it states.

J~
_________________________
"Competition brings out the best in products and the worst in people."

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#369728 - 03/13/11 12:37 PM Re: Stupid QC comments and BPO requirements. [Re: ....J~]
DueDiligence Offline
Major Contributor

Registered: 12/05/06
Posts: 1635
Loc: Wild Wild West
Fascinating.

That BPO agents are expected to provide an opinion of comparitive condition for six properties that they've never seen is a huge problem to begin with. That secondarily anyone would rely on MLS comments to try to intuit condition when facts cannot be known is lunacy.

That a mill QC-er would then perform magical thinking or reverse-engineering for condition based on MLS comments is beyond comprehension.

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