I have had 2 bpos this week. Business has been way down since March. Each month I keep hoping that this month will be better. Am I kidding myself, is it over? Will it get better or should I cut my losses and find another niche? These are the thoughts I have have been mulling over in my head. I hate waiting for checks. I used to have lots of checks gathering in a drawer that I didnt have time to take to the bank.
Any thoughts out there.

Why don't you look for that niche while doing any bpos that come your way? Don't abandon the bpos. It sounds like you have time to try out new things.

That's good advice. As for me, I always have a back up plan. I think we all know we can't depend on BPO's anymore than we can from sales to make a living (in todays market}. Supposedly, I'm in the number one area for foreclosures. Recently, orders have been slow. CC has been pretty much filling the gap........August has always been a slow month for me. September is not looking much better.......time to look at Plan B, again......lol.


Just when I said it was slow, I just got 7 orders.......must've been cause I was looking at Plan B.....vacation time....lol

I agree with Colo too. You can also try signing up with new companies. I'm getting plenty of BPOs, but REOs are drying up with me.

I have a plan B, but I'll always keep real estate in my pocket

I heard an interesting theory about having a plan B. The theory is that if you don't have a plan B you will work very hard to make your only plan work. Almost like a survival issue.

Nothing personal, but the graveyard is full of people that worked themselves into the ground......maybe, no Plan B ?. I subscribe to the theory of "work smarter, not harder"....so far, it's paid off.......just my two cents.....

Have you called you big hitters and asked them what the deal is?

Sounds trite, but check you uploads to make sure they are current, you know w9, e/o, license, etc.

Good luck RLS. It will pick up.

Bingo! While I understand (to a certain degree) those that subscribe having a "Plan B", to me that means you are not giving 100% to what you are presently doing. My MB ID says it all. My "Plan B" is improving "Plan A"!!! If you are good at what you do and are determined to make it work, success will follow. Will there be bumps along the way? Of course! However I was told a long time ago that the key to success is hard work mixed with a little bit of luck. I have held on to those words for over 20 years now, and apply that to my business plan.

There is success and risk in everything you do. Sadly not all but many who start making good money will buy more THINGS instead of investing to create consistent cash flow.

People that have lots of money understand everything cycles.Some cycles might be longer this time and shorter in other but they are there.

My ultimate plan isn't to have my life depend on clients.Instead I am an investor myself creating cash flow.As I get busier I only take clients who can fit into my business plan.

I know some who do well on bpo's but not the majority.For many it pays the bills and gives them a little extra coin to keep running on that hamster wheel.

The hamster wheel runs faster and the piece of cheese gets smaller.

Only do maybe 1 to 2 a month now.Still in everything there is always stress.Even investors that are my clients who have millions or dollars worry about keeping up their lifestyle and the government taxing them to death,family legacies in estates,etc.

So stress never goes away in our lifetimes it just changes to something else.We can only learn to manage it better.

I agree with the posters above. Sign up with new companies, and do not listen to the folks that say no one is taking new agents. If you have experience, they will. I work for totally different companies then I did 2-3 years ago. I list reo and do bpos for companies that give out listings. My plan B is just to continue to sign up, make sure all my docs are up to date, and keep plugging along. Do something every day to create new business. If I would have sat still 3 years ago depending on the companies and banks that were giving me business then, I would have very little business now. You need to remember that the companies and banks we work for loose contracts, therefore their business goes down to. The trick is to be an agent with the company or bank that picked up the contract the other one lost. While it makes me cringe to think of it - Ocwen was one of my main companies 3 years ago, and now with the in house agents they are using, I have only three listings with them. Based on the commission cuts, I am glad. My point is, I have so many others that I list for and do bpos for, I do not even notice. While getting into something different then bpos and reos may be a plan B for some and it does work, my plan B is to try to create more business within that area. I am still afloat and while I feel that I am floating on a life raft instead of a sleek sailboat, I am still able to make a living. Good luck.

Haha i like that however i think i lived like that when my bpo business took a 50% hit for 6 months... i had no plan b... and although i recovered...

if i had a plan b i may have not felt the hit as much....

i recommend reading "who took my cheese" ...i think thats what it was called... very short read..however inspriing if you ask me.

oh and to the op

since your in a different state, dont give up, this business is made for hustlers, if you cant handle business building, account management, networking, hard work, and working 24/7 then get out of real estate. If you can, put in the work and youll see results, this industry is set up to reward those that work hard and provide good work.

If your in southern california,give up, this markets too hard and your better off going into insurance

If your in southern california,give up, this markets too hard and your better off going into insurance ..........

Nothing better than narrowin' down the competition.....lol.

How much you want to bet RLS is hammered with orders right now? Probably a bunch if interiors with access issues, but nevertheless, isn't always when it looks the darkest that the floodgates open (then or when you are leaving for vacation).

RLS how's about an update? I think that was a question.

Update. I have had 5 orders for the week. Down from a normal week of 20 and a high of 30. Just got an offer accepted today, yeah yeah.
As far as siging up with more companies I dont think there are any that I havent signed up with. With I call my regulars they tell me I am in good standing and they are just slow.