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#358615 - 11/23/10 11:44 AM
Re: Am I off base here?
[Re: BuckeyeMatt]
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Member
Registered: 12/15/08
Posts: 310
Loc: Northern Ca
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I have had it before. The values were way off between the two BPO's. After I explained why my comps were better they accepted the order. It was not a big deal.
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#358616 - 11/23/10 11:55 AM
Re: Am I off base here?
[Re: P-Town]
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Member
Registered: 11/17/08
Posts: 59
Loc: Ohio
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I have had it before. The values were way off between the two BPO's. After I explained why my comps were better they accepted the order. It was not a big deal. Did you look up every comp on the other agent's BPO and explain why each comp doesn't support the subject's value?
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#358619 - 11/23/10 12:10 PM
Re: Am I off base here?
[Re: BuckeyeMatt]
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Member
Registered: 12/15/08
Posts: 310
Loc: Northern Ca
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Yes I did and it was interesting because the information the agent used was not accurate. I wouldn't want to do it all the time but it was okay in this case because the values were not close and they needed to know why.
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#358623 - 11/23/10 01:15 PM
Re: Am I off base here?
[Re: P-Town]
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Major Contributor
Registered: 02/16/06
Posts: 2130
Loc: United States
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I hve it happen quite frequently. I get a bit annoyed, look them up and provide commentary and submit. It is a pain in the [censored] but it happens...
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#358625 - 11/23/10 01:50 PM
Re: Am I off base here?
[Re: smg]
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Veteran Member
Registered: 01/02/07
Posts: 724
Loc: Port Jefferson New York
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I feel your pain, the worst is when the client pulls a batch from a lovely service like Trulia or Zillow IE 10 or 12 addresses. I guess your response depends on how much you value the client. If this is a good client, I have gone to lengths to illustrate how bad the other comps were. I have had several occasions where the subject was a vacant REO and the other bpo cited occupied comps with upgrades and amenities, no adjustments. I diplomatically let the client know that the comps where inappropriate and I reinforce with them just how available I am to avoid these conflicts in the first place!
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#358629 - 11/23/10 02:11 PM
Re: Am I off base here?
[Re: Mike Hagen]
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Member
Registered: 11/04/08
Posts: 358
Loc: new york
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This makes no sense to me. Why wouldnt if given the opportunity show how your work is superior to others in your area. There is no down side to this. Unless of course your work is the inferior work. And by showing that you do better more accurate work and you're accomodating by doing so, it may lead to you getting the next order and not the other agent.
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#358631 - 11/23/10 02:47 PM
Re: Am I off base here?
[Re: cleonard]
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Major Contributor
Registered: 09/24/06
Posts: 1967
Loc: US
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You guys are only looking at the negative of this. If they have two bpos that are way off, it means one of the agents screwed up. If it's the other agent you can show them why their comps were garbage and it makes them look bad. I have found fake comps, incorrect data, and other bad things about their bpo, and im willing to bet they didn't use that agent again. I can look up 6 comps in 5-10 minutes so it's not a lot of time to waste.
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#358632 - 11/23/10 03:04 PM
Re: Am I off base here?
[Re: BpoBill]
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Member
Registered: 11/04/08
Posts: 358
Loc: new york
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BpoBill, I agree completely.
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#358634 - 11/23/10 03:22 PM
Re: Am I off base here?
[Re: cleonard]
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Member
Registered: 02/06/08
Posts: 101
Loc: FL
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BpoBill I agree also. I usually look at this and most of the times they present the prior comps utilized. most of the time, depending on the market, the difference in value could be justified.
best way if you are confident in your value just explain to them why yours are better, or currently more comparable then the prior report.
But I also personally do get these also. why do they always think the first report is correct?? but yea if the values are way off I guess it does raise a red flag in the QC dept.
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#358638 - 11/23/10 03:31 PM
Re: Am I off base here?
[Re: robbyrob]
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Member
Registered: 08/26/03
Posts: 75
Loc: Florida
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Remember they pull these standard notes all the time, doesn't mean yours or theirs is superior or inferior. I kind of like it if they would let me know if the prior is way off mine, I like to see if the other agents screwed up or sometimes I might be off. I don't care, but never gotten six.
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#358642 - 11/23/10 04:23 PM
Re: Am I off base here?
[Re: cleonard]
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Major Contributor
Registered: 01/31/07
Posts: 1808
Loc: Midwest
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Got this this week.
"There is a large Value Variance with your BPO and a recent BPO completed on the same property. Please pull the MLS sheets for the Previous Comps and provide DETAILED comments on these comps and why there would be a value variance between the two recent BPOs. Please send me the MLS sheets for your comps and the previous BPO comps provided. Also we would like you to provide an opinion of why you feel your BPO better represents Current Market. Please also state if previous comps used were REO/SS or FMV, as well as the comps you have used. Previous Comps: Sold: x,x,x,x,x,x,Thank you".
I think the thing I hate is having to do extra work based on something someone else did.
_________________________
BPO's since 2001, REO since 2006. Equal opportunity lover since 1977.
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Registered: 10/14/11
Posts: 54
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