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#452114 - 04/24/16 06:42 PM Re: Main Street [Re: smg]
12 step 4 BPOs? Offline
Veteran Member

Registered: 06/28/10
Posts: 1288
Loc: Land of Tree Huggers
Last week Main Street sent out a bunch of exterior orders. EXTERIOR. But about 70% of the way down the page of their comments (who can read all that before you accept the order), it says there will be a second order that comes through that has an interior inspection addendum and that the pay for that is $20. So, basically they sent out a bunch of orders as exteriors and then are requiring we do it as an interior. It gets better. The access is one of four HUD keys. Now, in my area the overwhelming majority of agents who do BPOs do not have HUD keys. Most REO brokers dont' even have the big selection of these keys. WHy would they assume agents have those keys. And the interior addendum didn't come through for two days. So it sits there for two days and what if you didn't have the keys?

What I just do NOT understand is why these didn't come through as interior orders to begin with.

I am so sick of the less than transparent way they do business.

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#452241 - 05/02/16 11:45 AM Re: Main Street [Re: 12 step 4 BPOs?]
Freedom123 Offline
Junior Member

Registered: 10/08/13
Posts: 9
Loc: USA
You've stated my exact frustrations and those of other agents I know who are doing these. One agent friend has called me every day since they were assigned to complain about how they tricked us into doing interiors and how no one around here knows what a HUD key is or how to get one.

I know it was in the fine print, but if it clearly says EXTERIOR as the order type, it shouldn't have an interior buried in the fine print. From now on I'm reading every order, even if it means I may lose it.

Even the MSV reps on the phone know it was a trick, they are really hearing it from other agents from what I've been told.


Edited by Freedom123 (05/02/16 11:47 AM)

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#452246 - 05/02/16 12:55 PM Re: Main Street [Re: Freedom123]
Bunny Offline
Member

Registered: 07/22/08
Posts: 416
Loc: USA
HUD key can be made by your local key&lock shop. The Main Street instruction said"HUD Key Code 46637 and Padlocks A-389".

In Kansas City area this key costs $10.50 to make,and it goes to most HUD owned properties. If you're actively working with investors and buyers who want to buy HUD properties, you must have all HUD keys with you. HUD pays up to 5% for buyer's agent commission, so why not to have HUD keys??
***In changing markets, it is wise to start selling real estate because BPOs are disappearing.

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#452402 - 05/09/16 07:48 AM Re: Main Street [Re: Bunny]
12 step 4 BPOs? Offline
Veteran Member

Registered: 06/28/10
Posts: 1288
Loc: Land of Tree Huggers
Originally Posted By: Bunny
HUD key can be made by your local key&lock shop. The Main Street instruction said"HUD Key Code 46637 and Padlocks A-389".

In Kansas City area this key costs $10.50 to make,and it goes to most HUD owned properties. If you're actively working with investors and buyers who want to buy HUD properties, you must have all HUD keys with you. HUD pays up to 5% for buyer's agent commission, so why not to have HUD keys??
***In changing markets, it is wise to start selling real estate because BPOs are disappearing.


Because Bunny....MOST agents don't have a friggin clue that HUD keys are even a thing. And....yeah, go to a locksmith and ask for a HUD key, they don't know what it is either. I tried that for a good year before I finally lucked out and flirted with a preservation guy hard enough that I got a set from him.

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#452726 - 05/24/16 12:43 AM Re: Main Street [Re: 12 step 4 BPOs?]
kgilmer Offline
Junior Member

Registered: 08/15/09
Posts: 1
Loc: Detroit, MI
Hi, I am new to the forum, in my area (Detroit) you can buy keys from the HUD contracted brokers for $20. If you complete a lot of interior BPO then those keys are valuable. Countless times I have gone to a property to do a bpo and found the key was missing from the lock box only to find that one of my HUD keys worked. The a389 Key is a must have.

Invest in the keys then do the orders that no one else wants with a little more ease. I have an reo key ring on it I have about 30 keys. HUD keys, common bank keys, contractor keys for the contractors that do a lothing of securing. That key ring has saved me much time and effort over the 20 years I have been doing BPO's.

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#452851 - 06/01/16 10:14 AM Re: Main Street [Re: kgilmer]
12 step 4 BPOs? Offline
Veteran Member

Registered: 06/28/10
Posts: 1288
Loc: Land of Tree Huggers
Originally Posted By: kgilmer
Hi, I am new to the forum, in my area (Detroit) you can buy keys from the HUD contracted brokers for $20. If you complete a lot of interior BPO then those keys are valuable. Countless times I have gone to a property to do a bpo and found the key was missing from the lock box only to find that one of my HUD keys worked. The a389 Key is a must have.

Invest in the keys then do the orders that no one else wants with a little more ease. I have an reo key ring on it I have about 30 keys. HUD keys, common bank keys, contractor keys for the contractors that do a lothing of securing. That key ring has saved me much time and effort over the 20 years I have been doing BPO's.


You are not quite seeing the point. 99% of agents don't know what these keys are. I called so many people back in the day trying to get copies, nobody knew what I was talking about. It is ludicrous that Main Street thinks people have these and or know what they are. And no, no HUD brokers around here are going to sell copies of the keys. They are so incredibly important and all mighty, not happening.


Edited by 12 step 4 BPOs? (06/01/16 10:20 AM)

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#452852 - 06/01/16 10:15 AM Re: Main Street [Re: smg]
12 step 4 BPOs? Offline
Veteran Member

Registered: 06/28/10
Posts: 1288
Loc: Land of Tree Huggers
So on the 25th I took one of their exterior orders. I swear I read through the fine print b/c I am so afraid of them. I didn't see the "interior addendum" crap.

SIX days after I took the order and had submitted it, the interior comes through. And they expect me to do it or they will not pay me the almost $200 I am owed for the BPO.

IT is over six hours to the property and back. I am going to go into the BPO form now and wipe it all out so they can't use it and not pay me.

When I got a bit frustrated on the phone with the rep who called me she kept whining at me to "remain professional". HA! Okay, so then she told me she was going to pull the order from me anyway, because she was afraid I would put unprofessional comments in the order that would get back to their client. Really? Really? Because your agents review the orders before they get sent to the client.

What a bunch of total a-holes!


Edited by 12 step 4 BPOs? (06/01/16 10:19 AM)

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#453548 - 07/22/16 04:49 PM Re: Main Street [Re: smg]
Joel33 Offline
Member

Registered: 03/24/11
Posts: 123
Loc: UT
Sorry I haven't been here for a while. That whole Exterior with an Interior inspection deal was a bit of a boondoggle - but the client made a request and it was the only way we could figure out how to do it and do it quickly and cost effectively.

We got a lot of negative feedback from agents about it.


Look on the bright side, if you did one, now you have a HUD key.

Joel

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#453760 - 08/04/16 12:14 PM Re: Main Street [Re: Joel33]
Freedom123 Offline
Junior Member

Registered: 10/08/13
Posts: 9
Loc: USA
Joel, great to hear from you, I really value your input from the Mainstreet point of view. Do you post or contribute to any other similar websites?

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#453785 - 08/05/16 10:39 AM Re: Main Street [Re: Freedom123]
Bunny Offline
Member

Registered: 07/22/08
Posts: 416
Loc: USA
Joel, can you give some input on profile deactivation? I called MainStreet yesterday because my profile is listed as Inactive, but all my docs are up to date. Girl on the phone said something about location glitch (Missing service location address) and said it'll be fixed by this morning.
My location address has never changed, so it is not missing. This morning I called again, and other girl said it'll fixed by Monday because responsible person is not in the office today. What is the problem here?


Edited by Bunny (08/05/16 10:43 AM)

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#455944 - 12/19/16 01:33 PM Re: Main Street [Re: smg]
Bunny Offline
Member

Registered: 07/22/08
Posts: 416
Loc: USA
Does anyone know contact info for MainStreet vendor management? My profile got deactivated and I need to know how to reach right person. Thanks!

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