Hey all,

I know that many of us come to here to learn about doing BPO's. Since I've recently made an instruction manual available to local agents in my area, I thought many of the members here might find it useful.

You can get more information about the manual at my website under the BPO Training link on the lefthand side of the site.

Thanks,

robyn,
Am I missing something? All that's on that page is an address to mail a $20.00 check to. How about a little info?

Dang, i will email everyone a brochure that I can develop on doing BPOs for $15!!!!!!! I can't imagine how it could be more than about 4 pages. Doing BPOs are just not that hard.

Katie,

The manual explains BPO's from A to Z with simple instructions from start to finish in a 30+ page manual. Included are all the companies available to work with, their contact information, their payscale, how long they take to pay, as well as, and more importantly, who not to work with. Along with sample BPO's, answers to ALL the questions that EVERYONE asks when they start BPO's, etc.

Gig em,
If you've been around this forum for very long, it's simple to see why the manual would be MUCH longer than 4 pages. How many pages on this forum alone with the same questions posted over and over and over?? How many agents looking to do BPO's with no clue where to begin? A lot of time was put into it and a lot of research done and information provided so that the newbie doesn't have to spend the time piecing it all together bit by bit. It's not brain surgery once you learn it, but half the agents I know don't even know the opportunity exists to them.

All of the agents I've provided the manual to thus far have been very greatful that I explained to them that the BPO opportunity even exists. If someone had all this information in one place, it would have saved me A LOT of time and seems others appreciate having it laid out for them as well.

Thanks,

Agree that many newbies will appreciate.

Every company has their own partcular set of guidelines to follow in the development of an assessment of value for them.

Just curious, but what does your manual say about bracketing the comparables, or market specific dollar adjustments for age, location and condition, or determining the appreciation/depreciation percentage for a neighborhood?

robyn,
Sounds like a good thing for people just starting out w/BPO's!

All of these elements are covered in the manual and these are the specific types of questions that those new to BPO's need answered. Of course all companies and markets vary in one aspect or another and ongoing email support is offered to have questions answered for specific situations.

Thanks,

Do You Accept Paypal?

Maf4800,

Sorry, I don't have a Paypal account at this time. I may have one soon, though. In the meantime, if you mail your payment and want to receive the manual faster, include your email address and I'll email a soft copy, rather than you having to wait for snail mail.

Thanks,

I thought is was just an instructional manual and how to do a bpo...that would be about 4 pages. The contact info on the companies would be a great resource to have. You may find out that you will have a hard time keeping it up to date and complete as companies such as Source One have at least eight different BPO forms that they use, each requiring varying information and image combinations. To a new agent it surely could save them some time, money, and mistakes.

Gig em,

That is the goal. To save them time, money and most importantly mistakes. I plan to keep the manual updated with ongoing editions. Of course, all BPO forms will be somewhat different, so I'm not including a BPO form from all the companies. Only a few completed BPO's for example purposes.

It's doing well in my area thus far and hopefully will help some Agents Online members as well.

Thanks,

The only problem that I can see, and I guess it would be a good problem to you, is that if the manual caught on, there would be a tremendous number of agents trying the BPO market and both diluting the #s per agent and also diluting the quality of the work which would reflect on all of us.

I wonder if the new agents realize that if you are good at this and do a good job, you will get buried with work. I recieve 37 BPOs today from one company, due early next week. Add that to the 10-15 that I will normally get in a three day period...that is a lot of work.

Dang! That IS a lot of work. Good for you! The other reason that I'm showing others the opportunity is that I know % of agents in this business that will never work, or get very little business. It might give them some hope to know that they can make some money and potential listings by getting involved in the BPO market. I know the importance of quality work when dealing with BPO's and a large section of the manual is focused directly on quality work.

Our market is very busy BPO wise, but I've never received 37 in one day!

You'd better get to work!

As far as listings go, probably 75% of all BPOs are not for listings or even a remote chance for listings. Most are for refi's, dropping PMI, cash-outs, etc. Probably one of the best things you could offer is a table of those BPO companies that do pre-forclosure BPOs and those that are purely for other non-potential listings. I know that I work off my table in that if I am pushed for time, I make sure I am not late on the prelisting BPOs. Those if you factor in the commissions off the listings, you get paid about $200 each, while the others are the flat $45 to $80 depending on company and location.

Another point you need to make is that if an agent does great work, after a proven track record you can negotiate rates and deadlines.

Sounds good. Only problem there is, of ALL the companies I included, I do not know which do, or do not, do pre-forclosure BPO's. I know a few of the ones that I personally deal with, but of all available companies, I'm not sure which ones do. As I come across more companies that do, I can include them in future issues. Unless you know of 1 or 2 that I can add.

Thanks,

FYI, my website server was down for a couple of days. All is working now. Thanks.

Hi Robyn:

Why not give us a free taste? We're a free-sharing society here.

:Jason

Jason,

You're right, we are a free sharing society and I am, and always have been, open and willing to answer any questions anyone has, just as others have always done for me.

The manual is about 60 pages now, not sure how I'd give a free taste. If you have any specific questions or current BPO issues, I'd be happy to try and answer them for you. The manual is selling like hotcakes to audience that I'm targeting locally. Did not expect such and now people are suggesting other products that I should create and make available. MY RE sales have slowed the last couple of months, so this is a great side project for me.

Perhaps as business picks up and I get into additional editions and other products, I'll make this edition available to Agent members at no charge. I'll cross my fingers that will be sooner than later

okay Robyn, I have one for you. When doing a drive-by, what do you do about square footage, room count, etc., when this is unavailable. I always estimate, and make a notation to that effect, but am uncomfortable with it: see previous thread

ky realtor,

I think Karls method mentioned in the above topic works fine. Personally, in my area, this information is almost always available via the MLS or tax records. I recall 1 out of the last 100 that did not have the information. In that case, I did what you mentioned and gave an estimate based on the similar properties in the area. Haven't yet heard of anyone having a problem by providing a well researched estimate.

Providing an estimate is generally what the asset manager will advise when asked.

Thanks,

Thank you, that's what I have been doing, so I feel better.

Hi, Robyn you should expect my $20 this week. I have a question. I am completing an emortgagelogic exterior bpo. It has queston "Functional Utility". What type of response are they looking for?


Thanks

Functional utility is the ability of what you see in the homes stye, design and layout to be useful, desirable, and to perform the function for which it is intended. They are looking for comments on items such as:

-A wood deck that is too small to use or is high with no railings.
-A bedroom that is too small to practically use as a bedroom.
-A screened covered porch that has no overhang and is facing the hot western sun (here in Texas) where it would be a hot house and completely unuseable for its intended purposes.
-Rooms with the ceiling too low for normal persons.
-A room addition that has a ceiling too low for normal and practical use.
-A small shotgun kitchen in a $300,000 house that appears to be architecturally designed for entertaining.
-A four bedroom house with one bath.
-A rustin log cabin in the middle of nice upscale homes.

BTW, if you are planning on developing an extensive BPO business, when you have take your CE for your license, take appraisal classes. They really help you understand the whole evaluation process. I took all of the required classes for my appraisal license and they sure have helped me in my BPO work and also how to word my thoughts in the way the banks desire.

Although a BPO is Not an appraisal, it is basically a cursive, quick and dirty and direct evaluation of the property that is going to be used most of the time in lieu of an full appraisal.

Maf4800, thanks I'll keep an eye out for it. Trust Gig em's response above helped you out on your Functional Utility question.

Gig em, since I previously worked at a prelicensing school, I've taken all 8 of the required classes for a broker's license (free ) . 1 of which was RE Appraisal, which I found to be very helpful.

Thank you. My money is in the mail!

jogginjewel, I received your payment with a note requesting me to email you a copy of the manual, but no email address was included. Please contact me with it.

Thank you,

Got it...thanx, great stuff!

Glad you found it helpful...please email if you ever have any questions or problems.

Warm regards,

Hi, I have a question concerning a drive by bpo. If a property is in poor exterior condition, do you assume the interior is in poor condition and base your as-is value off of this assesment? For example.. I am completing a drive by bpo which the subject is in poor exterior condition and boarded up.

I do, then I always make a notation in the comments something like "valuation is made on the assumption that interior of subject property is in like condition as exterior", and also on property in excellent condition and make the same notation. There is only so much you can do on a drive-by. This may not be the proper thing to do, but it is what I have been doing for years.

ditto for me

Appreciate the manual!! Found some things I had not thought of before. Thanks.

To me, spending $20 for this information is excessive. I have been doing BPOs for about three months now with no previous experience and training. While it is tough to get started, I find that the BPO company is more than willing to give you any and all information you need to be sucessful and do a good job. I have also found that, in many cases, the companies do things differently and have different requirements.

Some want pictures of comps, some do not. Some pictures can be MLS photos, some can not. Some can be any size, some have to be specific resolution. Some BPO companies want more narrative detail, some don't. There are a zillion variables and to think that you can cover everything in an ebook is not practical.

I believe that in the spirit of helping fellow REALTORS to succeed that it is our responsibility to share our knowledge and experiences with eachother out of a sense of professionalism, caring and cooperation. It incises me to see one of our own trying to make a "buck" on someone's lack of experience on a particular topic. Next thing you know they'll have a link on their site showing how you can make $60,000 with just a $6 investment!

If anybody has any questions about BPOs they can ask me and I will give them any information I can for free. I think that is how it should be.

bransonhomefinders.com

The assistance is worth it.

Some were blessed and had all the answers when getting started. Those that did not have all the answers have been more than thankful to have someone available to help them out one on one.

I never thought of helping fellow REALTORS. I've only been doing that on this forum for a year now. I'm a Realtor and a business person and when I see a need for a service, I fill it.

It's outrageous! Trying to make a buck in this world. The next time I want to learn something new, think I'll go to the store and see how many books they'll give me for free. Can you believe, I had to pay for real estate investment books. It's outrageous!

It's about more than making a "buck". The fee covers the hours I've spent gathering all the companies to work for, their contact info, how much they pay, how long it takes them to pay, who not to work with and how exactly to produce a quality BPO. The fee also covers the time it saves others and is helping agents in all areas where there is a need for the knowledge.

Next time you spend hours selling a home you should show a sense of caring to that owner by not accepting a fee, rather than trying to make a "buck" on their lack of experience on the particular topic of selling their home.

The people I'm providing this service to are very thankful for my help and that's all that matters to me.

Bravo Robyn...well said... and Bransonhomefinders....WOW been doing them for a whole 3 months now, Why you must have a wealth of information to share.... There is very big difference in writing a BPO &
writing a good BPO.....

StLbpo's

The checks and assignments keep rolling in. No complaints yet from anybody and, in fact, the actual phrase "I wish all my people did such a good job" has actually been used by an Asset Manager regarding one of my BPOs. Go figure huh? Beginner's luck maybe.

By the way, what is that apostrophe for in your screen name? It looks to me like it's a PLURAL rather than a contraction or possessive.

Anyway, I still maintain that we should help each other rather than trying to make a buck off of someone else just trying to make a living.

bransonhomefinders.com

Robyn,
I think the BPO manual is a great idea. 20.00 is cheap for info on something that you can make alot of $$ @.No-where have I ever seen such a manual and I think alot of people could benefit from it. BPO's can be complicated and take a while especially for your first one. I wish I would have had something like that when I first started doing them. I may still order one...thanks for the opportunity to have something like this available.

Angie

Angie...thank you for supporting what I communicate daily! Many, many agents agree with your opinion, so I'll keep doing what I do.

Glad to be of service, while HELPING fellow REALTORS.

Your welcome...keep it up!!

Thanks,
Angie:)

I cant understand either why anyone would pay for something that should be natural, part of your business and your business structure/career. I guess they say you build it they will come.........well in this case you pitch it and they will mow mow mow like cattle being lead to the slaughter house. BPO's are so simple and direct, just be honest, read all MLS noted/comments on comps and keep th distance, age and features with-in 10% and preferred 1-3 miles. I plan on selling next month how to read your thomas guide and understanding the north/south features of the cordinates, I figure $25.00 is well worth it for all the help and hints I will supply, plases send checks.

I can't understand either why anyone would pay for sales/marketing courses, real estate courses, listing courses, closing courses, training, etc, for something that should be natural part of your business and your business structure/career. I hope you don't let your clients in on your feelings about education and training. Who needs it! It should all be a natural part of your career.

Supply and demand was taught in Business 101. It's a very simple concept. LOL

This is just like real estate values---it's worth what somebody is willing to pay for it. If there is a need out there for this manual, and people are willing to pay for it, it's a free trade country, and robyn has the right to provide it.

Robyn your thought process and opinons are worthless for me and I feel 95% others on this board would express the same feeling. Keep up the fleecing on this board and please keep myself and others up dated on any future pieces you have to sell, pawn or help make your monthly rent. Maybe yopu can use my idea on reading thomas guide and sell the top 5 secrets on grids, east/west, learing to turn the page and of course which county or state should I use.

"It incises me to see one of our own trying to make a "buck" on someone's lack of experience on a particular topic."

...i.e., we should have a great book burning of all the non-fiction, instructional books as people can very well learn how to overhaul their car by themselves. Chilton's is a crook. We should be a socialistic country where the state controls everything. Making a profit and taking a risk to see if you can develop a product that someone else might need and actually pay for is wrong, just wrong.

The manual probably would shorten the learning curve for many newer agents and probably help them avoid certain traps. For someone in real estate for years who has done many cma's, it probably would be marginally of benefit. Either way, if it is successful, that is great.

You know, I do more than 100 BPOs a month and still look for areas that I can improve in.

Since 95% of my business this week came from this board, clearly you have no clue of what you speak.

My home is PAID IN FULL, no need to make the rent.
Nice try.

Does seem that you'd be a great candidate for the Thomas manual, I'll draft one up for you...free of charge!

sp OPINIONS..

Then why bother reading my posts? Ignore my opinions, leave them to those who appreciate them and move on! We'd ALL appreciate that!!!

yes, and let's start with the "no money down" books. lol.

what a **** bi*** since when do you speak for all and this board. where is Farkas or realty check on this??? Good luck and hope no one from asset mgrs. read about your fleecing and charges of what you state fellow agents, please what a joke and waste of this space, I cant igone all your short minded post, request and begging agents to buy this crap and you having the nerve to defend it, please. peddle your **** somewhere else and leave this area for the pro. like myslef and fellow broker/agents.

Perhaps if YOU had read it, you would not have done ANY work for brokerpriceopinion.com. Oops!!!!!

You're right, I'm begging agents to learn from others mistakes and save themselves the trouble. I can barely get through reading ALL the posts here that support all your petty complaints.

If you're a pro, then I'm fearfull for the homebuyers, sellers and REO's in your area. Get a clue and then some class.

You go girl! Keep doing what you do, I wouldn't change a thing. Leave those less-than-clueless to their own kind. Life will trip them up easy enough.

I have been emailed by several people on this board "just how do you do a bpo" one poor girl did her first one and it took her 8 hours..granted she needed more experience doing them or RE period but...I am sure she would have appreciated something like this manual. I try to help all that email me..but if they had a step by step manual it would help them. If this would have been available when I first started I too..would have bought it without a second thought. Some new agents have never done a CMA let alone a BPO so I feel in fact it can help lots of agents..Robyn is the one who took her time to put this all together to help others..20.00 is cheap compared to all the $$ you can make doing BPO's. I think 20.00 is a fair price to pay for something like this. and it can help new agents...so what more can you ask for???
Angie

Thanks Angie and Jogginjewel!

I'm glad that you and many others get the point. You wouldn't believe how many agents in CA are extremely thankful for the manual. I receive tons of emails everyday with thanks that never end.

Hi Robyn:

I am a Real Estate agent in NY and NJ. I have been interested in BPOs for some time. I was wondering if you were still offering your BPO Manual for sale. I've gone through the different post and found your website, however, the website doesn't offer the manual. If you're still offering the manual please feel free to email the details.

Yoland

interesting, so overall you'd say this information is worth the $20?