You can also do it on google maps. It will do it as driving distance or walking distance.

Any experience with appraiser loft not paying bpo orders? Just signed up and found several blogs from appraisers complaining on non payment.

wow.. I guess these blogs are good to read before thinking about BPO.. are they worth the time for the money? I heard from friend that do them that sometimes the pay is not as good when you start, is this something to discourage me or is reality?

The pay for BPOs had declined. Many use them to suppliment their income. Many make a decent living doing them. A few make a very good living doing them.

We do not do paid BPOs as part of our business plan because I can not do them fast enough to make it worthwhile. We do free ones for companies that give us REO listings but do not try to do paid ones.

You must decide for yourself if you think it is worth it. No one who is making money doing paid BPOs was born doing them. They all had to start somewhere. You have just as much chance as anyone else.

Best wishes and Best of luck to you.

probably not legit

we had to call them about 10 times before they finally paid us

I do business (BPO's) with about 30 companies. Everyone of them has a blurb in their order information / requirements about not talking to the listing agent or the homeowners re your opinion of value. They usually make this a big deal in the instructions. So the answer is no. Tell the agents or the owners to contact the bank.

Kelly

Grandpa is only PARTIALLY correct. In FLORIDA, and agent can assign a portion of their fee to a BUYER or SELLER provided it is done in a written disclosure at the time of closing, BUT they MAY NOT pay any sort of commission or fee to ANY OTHER THIRD PARTY in the deal whatsoever.

Do NOT offer any commissions to AMC agents who are not board licensed under any circumstances. Steer clear of these guys, and you will have a long and enjoyable career. GOOD LUCK

No problems here - they pay on time

Lady Bruin - in general you should expect to be offered about $25 for a general report

Victor - there is no set formula on this - you must rely on the comps in the area of your subject. Carefully review the Days on market of both the SOLD and Active listings. If any of them involve long durations, then the pricing is probably above market values. Your MLS should also have perodic market reports which will show actual sales and trends, from which you can draw some guidance. Good Luck

Stave Dukes - It can be that way, but just keep watching for more opportunities. the market slowed a bit in 2011 because many banks had to pull their forclosures and review them due to "robo-signing" issues, but you should see an increase in activity very soon

There are 298277 posts on this topic. Use the search feature and type "evalonline". You will find that they are typically a non-paying company.

You can also search "Evilone"

Hey guys,

I'm new to the real estate realm (only licensed since 11-2010), and I want to get some cash flow going. I thought of property management but my brokerage/company is moving to 'if you do property management, that's all you do' (no listings or sales) - I don't want to limit myself in that fashion, so I thought of doing BPO's.

I have questions though:

What are the requirements to do them? Just be a licensed agent?
Do they pay me directly or my broker? (I'm pretty sure it has to be my broker, right?)
So if my broker is paid initially for it, I have to split it then, right?
Does my broker have to allow me to do them, or is it up to me?
Are companies even going to allow me to do them because I'm such a new agent?

I have done the pictures for them, interior and exterior, for another agent in my office - so I'm not totally new to the idea.

Any advise? Any companies that you recommend or don't recommend? Any help would be appreciated!

Thanks
James Roy
Realtor - Florida