How many of you will do free BPO's in order to "hopefully" get the listing. I just did one, only becasue it was close, but now the co. is wanting all kinds of other things that is not usually part of any BPO order I have ever done and after talking to another realtor another co. already has the listing so should I keep getting all that they are asking for...I just don't want to do all of this with the way it looks NO LISTING and doing all this for free. I sent in what was required...I just don't like doing more and more with NO money coming from it. Also they are saying this is a first BPO and I found out it's like the 4th or 5th...so I am kinda getting used from what I gather...any thoughts?
Angie

I haven't been asked to do a free BPO, but one company that I have done BPOs for asked me to do other things like have the house re-keyed, find a company to mow the lawn, etc. I did them but when the house went to sheriff's sale and I asked them about when it was going to be listed, they told me that the lender was using another company (not them) to handle selling it. I told them not to call me again for anything other than a BPO. I don't have time to do all of the other work if I'm not getting the listing.

I know that's not exactly what you asked, but I did all of that work with the hope that it would be my listing. From now on, I only do that kind of work if I know it's going to be my listing.

Thanks!
I agree! I am not going to do anything else for this. I know I am not going to get the listing. After finding out this was the 4th or 5th BPO on this I can almost bet the other realtor really does have the listing and they just wanted to get another order done.
I will not do anymore of them, it was close to I decided to go ahead in hopes I would get it, but this is always before all the facts come out..lol

Angie

I did about four for one company with no pay, but with a hopes of a listing. The last one I did they promised I would get the next one they had come available. That was well over a year ago, and although I've been asked, I refuse anymore for free. (and of course no listing from them) Angie, you didn't say what they were asking you to do...was it rekeying - CFK ...stuff like that?

I feel real silly having to tell another real estate agent "don't work for free"... I guess this falls under the "it takes all kinds" catagory.

The only thing worse than working for free would be asking peers if they should COUNTINUE to work for free... Either I'm missing something or I'm losing it...

Wow.

Angie, uh... don't work for free. You just don't have to.

I will not do a BPO unless I am 1) Being paid a fee, or 2) Receiving the listing.

Several Scam companies try to get gullible agents to work for free...

However some very reputable companies do trade BPO for listings... but they generally start with paid BPO and then give REO's and may at that point request you shift to no cost BPO for 1st opportunity to listings. I still don't care for even that and generally agree to perform BPO's at a fee and refund that fee with the referral if a REO is given at a later date.

Real Estate is about negioations... practice it when ever you can.

I tell them they can pay me, then if I get the listing, they get reimbursed. Most of the time I have a listing committment before I am asked to do a free BPO, then I will do it. Yes, there are scam companies out there getting free BPO's from some agents.

Thanks everyone!!

Angie

I have usually been given written notice that I will get the listing before doing any for free.

Watch out for Blue View Corp. They use this same scam.

Thanks!!

Angie

I quit working for a Company in 1998 because we were told to explain to agents that they "might get the listing if the BPO was done well enough" even though it was common knowledge at our Company that this was a blatant lie. OK, technically not a lie, because a 1 in 10,000 chance IS, technically, a chance.

But in the 18 months I worked there, no agent ever received a listing.

If I have time I will give a freebie BPO away here and there. I've gotten the listings sometimes, sometimes not.

1 or 2 I would do, 4 or 5 then money is due. Pay the fee and you see, because my BPO is no longer free.

Did they pay for the BPO's?