Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Advertisements
How To Advertise Here
How To Advertise Here

Good Idea!
Realtors Directory

Facebook
Sponsored Links
Top Posters (30 Days)
Lucky Leonardo 28
RonnieEmz 23
Mr. Clean 21
Z06Fanatic 16
Vermont 15
Trouble 15
Mileage Pro 13
Daniel1234 13
David Hunter 9
James007 8
FloridaExclusive 6
Marksmith 6
TheBPOExpert 5
SellingVA 5
VABroker 5
Matched Content
Topic Options
Rate This Topic
#413854 - 10/04/12 04:46 AM Short Sale agents that also do BPOs
Cool guy Offline
Major Contributor

Registered: 06/30/04
Posts: 2176
Loc: California
Have any of you had success prospecting the bpo properties you do? I'm doing about 100 bpos a month and was thinking of sending out flyers/letters to the distressed owners of those properties.

Top
Advertisements
#413858 - 10/04/12 08:24 AM Re: Short Sale agents that also do BPOs [Re: Cool guy]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
Some companies consider this a conflict of interest and will fire you from BPOs if you do this. Make sure what the company policy is before you attempt it.

Top
#414687 - 10/22/12 02:39 AM Re: Short Sale agents that also do BPOs [Re: Cool guy]
smg Offline
Major Contributor

Registered: 02/16/06
Posts: 2823
Loc: United States
I see more of an issue if you solicit them You value the property knowing that you may be listing it. I think the lender would have an issue with that...just my .02"

Top
#414838 - 10/25/12 12:13 AM Re: Short Sale agents that also do BPOs [Re: Cool guy]
BelloAtMe Offline
Junior Member

Registered: 10/16/12
Posts: 3
Loc: Texas
Tread lightly in this area. Doing a BPO for one company and then trying to represent the seller to short sell on that price is like swimming in shark infested waters.

Top
#415435 - 11/07/12 04:34 PM Re: Short Sale agents that also do BPOs [Re: Cool guy]
sacbroker Offline
Member

Registered: 10/31/07
Posts: 330
Loc: Sacramento
Simple, share the listing with another agent and have them as the listing agent not you. I dO it all the time.

Top
#415506 - 11/09/12 03:08 PM Re: Short Sale agents that also do BPOs [Re: sacbroker]
rls362 Offline
Member

Registered: 10/11/04
Posts: 308
Loc: michigan
Is it safe to assume that all bpos are for distressed properties?

Top
#415508 - 11/09/12 03:25 PM Re: Short Sale agents that also do BPOs [Re: Cool guy]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7605
Loc: Vermont's North-East Kingdom
Originally Posted By: rls362
Is it safe to assume that all bpos are for distressed properties?

Nope . . . . most, but not all; some are still being ordered for the creation of HELOCs, and others to support the removal of PMI.

They're probably needed for other purposes as well; but I don't know off hand what those might be. Someone else here on this Forum may know of other uses.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#416686 - 12/09/12 03:48 AM Re: Short Sale agents that also do BPOs [Re: Cool guy]
Greg Masson Offline
Member

Registered: 08/28/08
Posts: 159
Loc: Oregon
When banks sell notes, Non Performing Notes (NPN) or Performing Notes (PN), they will order a BPO to determine the value. A performing note, one that the homeowner is still making timely payments, can receive 75-85% of value when sold. An NPN can go as low as 15% if sold in bulk. But, they need the BPO to determine the value.

Top
#419585 - 02/04/13 04:20 AM Re: Short Sale agents that also do BPOs [Re: Cool guy]
Romilda Offline
Junior Member

Registered: 03/21/12
Posts: 2
Loc: Virginia
What about if you send a flyer of post card to everyone in the neighborhood where you did the BPO? Would that be less of a conflict?

Top
#458044 - 06/12/17 04:58 AM Re: Short Sale agents that also do BPOs [Re: Romilda]
Brooke Harper Offline
Junior Member

Registered: 03/05/17
Posts: 3
Loc: Austin, Texas, USA
Hi, Romilda. How has this turned out for you? Doing BPOs isn't the most glamorous part of being in the real estate business. I would surely love to hear about your success.

Top






Google Custom Forum Search

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.
Search

Newest Members
synergyteamaz, Ding Nguyen, MetroUAV, SamFromSurge, Dennis L.
29537 Registered Users
Who's Online
2 registered (Muniart, 1 invisible), 57 Guests and 11 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28119428
No new orders today 13087913
Stupid MLS comments. 3266628
What do you know about Froy Candelario, top agent in USA 1180959
Stupid QC comments and BPO requirements. 1052321
New HUD Listing Brokers---Any Update? 1021872
Is there religious content in Buffini class? 816821
Let's talk about our cars 663941
Name that Flick. Great movie Lines. 599047
Pay it Forward - BPO/REO Tips & Tricks I & II 584633
Most common items found at an REO 563331
EML 459230
REOTRANS 435721
Main Street 413887
asset val seminar in colorado 404378
assist 2 sell or 1 percent realty? 338008
HOMONYMS - There, Their, and They're 303744
Evalonline 300066
Land America 285049
Mainstreet 261858
Featured Member
Registered: 06/19/17
Posts: 2

How To Advertise Here


This site presented by RNC Internet Services