I'm really getting burned on this one listing. First did the CFK and Eviction and Lock Change under Nationwide referral and had to sign up then buy special BPO software $150 then train and pay $50 for their LPS Invoicing System. Once subject was Vacant and Secured Nationwide cancels the listing with me and refers it to REO World who gives me the listing too high over value with a 35% referral on 2.5%. Weekly driveby's, mandatory print ads and 4 BPOs later and now I've been told to put listing it on hold and they will pay me $500 for my trouble but I have to give access to contractors with the following email:

"This asset is being considered for the Chase Community Revitalization Program (CCRP). If applicable, please remove from MLS marketing. You are required to cooperate with Chase and any prospective non-profit interest groups that contact you to access the property and fulfill their requests (please contact me if you are unsure of an identity or need assistance). We understand that Chase will compensate you a flat fee of $500 for your continued efforts if it sells through this program. We will also notify you immediately if released and we can resume standard retail marketing."

I just got a call from a Broker who wants me to give her Contractor access for this Chase program. So it sounds like a Broker other than me is going to get paid on this one! It's cost me more than $500 in advertising and time over 4 months.

Anyone ever deal with this type of thing?

Question:

Do you let people know the conclusion of your BPO such as the listing agent and the homeowners? I'm coming across this more and more as I contact people to get access into the property. I'm not sure if its the right thing to do or not. If they send me an email I do tell them the quick sale and as is value I came to in the report. I should really just ask teh company I do it for if this is ok.

Just wanted to know what you thought. Thanks.

Rodney

As tempting as it is, do not give your pricing results to the agents or homeowners. I am sure the company you work for has a strict rule on that, plus they may be doing more then one bpo on the same property.
I have accepted comps the agents produced to be considered, however if they are outside the guidelines, I don't use. Most all comps an agent brings are usually ones on my list already.

doing so your are in violation of the agreement with your client, you are hired to produce an opinion of value and it this should be only disclose to your client. You owe confidentiality to your client.

There was a thread just started about Streetlinks and when I went to sign up it asked for a resume. What should my resume look like? Is it all work history or just on the BPO and real estate side? Also I did a search on resume first and did not find the answer. Also since Im new I wasnt sure if I could ask that in the Streetlinks thread or If I have to ask it here?

BPOhawk
You should start with your Objective a brief explanation of why do you want to be on their preferred agent network, then a resume of your past work history and what duties your performed on those jobs, then, your education, what kind of training of certification you had completed, the zip codes you cover and list of your clients and their contact info. You also could mentioned if you had been an attended on any REO/BPO related conventions etc. Names of any organization your belong to such as the Board of Realtors on you State and any others you might belong to, and any special skills such as a second language etc. I hope this helps

Has this happened to anyone? What was the outcome?

LSI has been my #1 company for BPO's over several years. Today LSI decided to empty my que (no apparent reason). I am unsure if this is in error. I had about 20 - 25 orders in various status' (due, pending QC, interiors, etc) This all happened around 4pm PST. I was interested to see if anyone on here has had a similar instance happen to them, and what was the outcome?

Kinda freaking out, and waking up at 6am to call them on the east coast. any input would help ease my fears.

Hi, anyone here know how to find a private money lender on a foreclosed home in michigan that i would like to purchase. I have 30% to put down. My credit is on the low side because i havent used it much, i have never needed credit so i just opened up 2 credit cards to boost it up a bit but will take a few months. or what is the lowest credit score that can qual. for a lone these days? thank you

Newbie to BPOS.... I'm a registered appraiser and real estate agent. Been doing HUD appraisals for a few months now with a certified appraiser. To supplement my trainee income, I've signed up with several BPO companies. Some of them ask for my fees for various services: Drive By Inspections, BPOs, Interior, Exterior, Pictures, No Pictures, etc. I have no idea what to charge for these services. I've gotten no orders yet from any of the companies so I don't really know what the free schedule should be. Can someone give me some useful advice?
Thanks..JCH

We have to be careful about the Sherman Act (Price Fixing) so, do not expect too much info here.

That may be part of the problem . . . . they'd like you to make them as close to "free" as possible.

Do a few for what they offer, just for starters; then assess the work involved and charge accordingly.

You don't have to admit you've never done any of these Reports . . . . you've just never done any for that particular Firm.

If you are a Licensee, make sure you gain entrance to the private Forum described as "BPO, REO and Asset Managers" where the characteristics of specific Companies are explored.

These matters have been discussed in detail elsewhere within the Forum . . . . use the convenient search feature to the right ---->>

Just remember to embed "multi-word searches" in quotes. Good luck !

[quote=Vermont][quote=JCH]". . . I don't really know what the [b]free schedule [/b]should be. . ."[/quote]
That may be part of the problem . . . . they'd like you to make them as close to "free" as possible.

Do a few for what they offer, just for starters; then assess the work involved and charge accordingly.

You don't have to admit you've never done any of these Reports . . . . you've just never done any for that particular Firm.

If you are a Licensee, make sure you gain entrance to the private Forum described as "BPO, REO and Asset Managers" where the characteristics of specific Companies are explored.

These matters have been discussed in detail elsewhere within the Forum . . . . use the convenient search feature to the right ---->>

Just remember to embed "multi-word searches" in quotes. Good luck ![/quote]

I meant FEE schedule. I don't know what the fee schedule should be. I'm being asked to provide my fee schedule and I don't know what to ask. I'm looking for a general idea of what the going rates should be. I'll take a look in the private forum but I'm a new member here and can't initiate toics until I make 30 posts. 30? That sounds like a lot.

JCH: If you want an idea of a fee schedule just search some of these forums and you will get an idea of what to charge. If not you can also do a google search on BPO fee's, How much to charge for a BPO, etc........ You will get a few results and have a better idea of what to do. If you are just starting doing BPO you might have a hard time getting in with companies and if you do there will be a lot of competition from other agents. I would either call the company you are thinking of joining or read their website. Alot of companies will have their fee schedules on their website. Again this is only a base and some will pay more depending on need or ability of agent. I know there are a few companies I will either ask for an increase or turn down because either they pay to low or are unwilling to meet my fee. With gas and wear and tear on my car I just do not see the value in accepting the work at the fee. Also some will accept low fee's if they get a lot and they are in the same area that the agent is heading to anyway. Again this is really up to the individual. Again even if the assignment is on my way to my other work I will only go so low. As professional you have to draw a line of how low you are willing to go. At a certain point I just don't go there. I am thankful that I have enough companies that allow me to do this, and I would also like to think that my work in the past and present has continued to show those top companies of mine that they can depend on me to turn in good work and a decent fee. Hopefully I have not gone on and on to much. Just a little of my random thoughts.

I need an online website that calculates distances between 2 properties. Can anyone make a suggestion?

Email or post the link, thanks...