|
|
#392954 - 10/25/11 08:22 AM
Re: How much lower for BPO's? Stop working for peanuts
[Re: A1fla]
|
Major Contributor
Registered: 03/04/07
Posts: 1801
Loc: SWI
|
Please keep to the topic and play nicely or the post will be closed.
Thanks!
_________________________
|
|
Top
|
|
|
|
#392966 - 10/25/11 09:50 AM
Re: How much lower for BPO's? Stop working for peanuts
[Re: jbt4re]
|
Veteran Member
Registered: 09/02/08
Posts: 761
Loc: Massachusetts
|
|
|
Top
|
|
|
|
#392967 - 10/25/11 09:53 AM
Re: How much lower for BPO's? Stop working for peanuts
[Re: A1fla]
|
Major Contributor
Registered: 02/16/06
Posts: 2130
Loc: United States
|
Yup...I understand as well. This got sidetracked a tad. Some of these threads have a habit of doing that....
|
|
Top
|
|
|
|
#392984 - 10/25/11 12:01 PM
Re: How much lower for BPO's? Stop working for peanuts
[Re: A1fla]
|
Major Contributor
Registered: 11/06/07
Posts: 1602
Loc: Nevada
|
wait, maybe I misinterpreted SMG's outhouse analogy. The outhouse is the real estate industry, and the occupant in the outhouse is the BPO company taking a dump on the agents it hires to do low paying BPO's?
I'll have to agree with that. thanks SMG, your analogies are the best!
|
|
Top
|
|
|
|
#392988 - 10/25/11 12:15 PM
Re: How much lower for BPO's? Stop working for peanuts
[Re: Brad - W4BJM]
|
REO-BPO-R.E. Mod
Major Contributor
Registered: 03/12/08
Posts: 3272
Loc: Pinehurst, NC
|
okay, fellas, check my previous post in this thread, regarding my criticism of the high volume "business model" and dubious methods of the big BPO brokers. go ahead, tell me they don't have unlicensed photographers/inspectors doing the drive-by's. tell me they don't have agents other than the assigned agents doing the BPO valuations. all violations of the client's own policies and vendor rules, as well as licensing standards. YOU ALL KNOW THEY DO IT. It can't be done efficiently any other way on a large scale. Ummm, I am one person who can tell you that I am a solo team that does everything myself and does not farm out anything! Now I suppose one could debate what is a high volume BPO broker? Since I am not seeing an actual number in your post, does that mean my 40-50 a week production qualifies as that in your opinion? I do all this at a slight cost of having little spare time, but I gladly exchange that knowing that I am not living a paycheck to paycheck lifestyle. At the same time I thank my lucky stars for that knowing that can change at anytime. My six day a week work ethic helps me to keep my production up, even at times of feeling a little burned out. Shana, I sense that you are a very opinionated person. There is nothing wrong with that. Yet don't try to put everyone in the same category without really knowing them. It's what I would call that prejudice, as you are pre-judging them. Perfect post 
|
|
Top
|
|
|
|
#392994 - 10/25/11 12:58 PM
Re: How much lower for BPO's? Stop working for peanuts
[Re: A1fla]
|
Veteran Member
Registered: 07/31/08
Posts: 944
Loc: SW Okla
|
The Energizer Bunny has popped into my head a number of times while reading this thread, like how some of us just keep doing BPOs and keep doing them, no matter what anyone says about the BPO business or us. . . .And also about how no matter how you dig, that sand in your bathing suit seems to elude your grasp and just keeps on irritating.
I have fired a couple of companies over $40 BPOs because it was a constant struggle to get them to pay more, every phone call was the same: "You just do this one for $40 and next time we pay you $50." And I would laugh and say, "No, you'll forget! So you have to pay me $50 this time or I won't complete the order!" I always got the $50, but it was tiring.
_________________________
Remodeling houses & helping tenants get ahead in life since 1983. Licensed Realtor since 2005. Addicted to REOs, BPOs, and working to expand.
LIMITATIONS: Until You Spread Your Wings, You'll Have No Idea How Far You Can Walk. - despair.com
|
|
Top
|
|
|
|
#393023 - 10/25/11 03:09 PM
Re: How much lower for BPO's? Stop working for peanuts
[Re: Artiste]
|
Member
Registered: 08/19/11
Posts: 116
Loc: USA
|
$100,000 / $56.50 (avg of 1 drive by at $49 & 1 interior at $64) = 1,770 BPOs / 365 days in a year = 4.9 BPOs/day -- and lots of you say you can do 7-12 BPOs a day (yeah, right) so there ought to be some people earning twice that. Just curious, how many listings did you take off your 1,770 BPOs???
|
|
Top
|
|
|
|
#393051 - 10/25/11 09:30 PM
Re: How much lower for BPO's? Stop working for peanuts
[Re: StLbpo's]
|
Veteran Member
Registered: 09/02/08
Posts: 761
Loc: Massachusetts
|
Not 2 cents, not a dime, Actually your advice is priceless. Well said, St Louis.
|
|
Top
|
|
|
|
#393052 - 10/25/11 09:39 PM
Re: How much lower for BPO's? Stop working for peanuts
[Re: StLbpo's]
|
Veteran Member
Registered: 06/13/06
Posts: 1257
Loc: ^
|
Oh lets play nice folks and get back to being proferssional. Everyone has to find their niche in this bussiness. Like any profession we have dirt bags/scam artist and we have professionals. Bpo's are not for everyone. Myself the retail side would drive me crazy (well more nutty then I am for doing BPO's for as along as I have). But doing the retail side being at the whim of a buyer or seller was not for me. Sure we all wish for the fee's us old timers at the BPO biz would get in the good ole days. We either move with them market or the market passed by. Of course ethicaly. It really comes down to a personal choice. To continue in this bussiness or not. But the choice of working with ethics has always been in place when fee's were great or peanut fee's, some had ethics & some did not. The key now is to work smarter, but still with ethics. I'm sure we all have had to retool our way of doing things. I remember a just 6-7 years back talking with several agents about REO's and how they would not lower themselves to handle a listing for the banks at an insulting $1000 minimum. It a choice to work or not work in this. All of us in the REO/BPO side of things are not to be painted with a broad stroke of unethical dirtbags.. So now can we can we all now play nice agian.
Just my 2 cents.. we'll it was more like my dimes worth. Very well said StLbpo's
_________________________
Live simply, love generously, care deeply, speak kindly and leave the rest to God ~ Ronald Reagan
|
|
Top
|
|
|
|
#393092 - 10/26/11 09:52 AM
Re: How much lower for BPO's? Stop working for peanuts
[Re: TheTexasGal]
|
Member
Registered: 11/09/08
Posts: 21
Loc: The Frozen Tundra
|
Low fee BPOs are adding to the appraisers arguement that BPOs should be banned. Go ahead and keep taking them and help eliminate the very business you rely on. Lately I have been getting more requests to review both appraisal and BPO comps from some vendors. In all I have reviewed the values were way off and comps used were unsuitable. (well one was OK)
|
|
Top
|
|
|
|
#393101 - 10/26/11 11:02 AM
Re: How much lower for BPO's? Stop working for peanuts
[Re: compressor]
|
Veteran Member
Registered: 12/05/06
Posts: 1265
Loc: Wild Wild West
|
I don't know if low compensation BPOs translates to low quality work. I think it'd be much harder to "fudge" a BPO than to produce the real deal. But I base that on my market where we have no subdivisions and no "cookie-cutter" homes.
I still believe, even at low compensation rates the BPOs produced still have value. UNLESS the adjustments are bogus. Now that I have seen on review of prior BPOs AND appraisals. Surprisingly, more so on appraisals. Many BPOs do require supportive information such as, MLS sheets. Appraisals do not. In fact, many appraisers in my area cannot see the MLS listings, and the counties do NOT give more information that age, gross sqft, lot size. Use of RealQuest, in my area, is not particularly helpful, either.
The entire valuation industry is being twisted and manipulated, that much I can agree with.
|
|
Top
|
|
|
|
|
This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
|
|
Registered: 10/14/11
Posts: 54
|
|
|