Full 4L/4S = 8 comp- interior- $50?

WOW! How low can they go???

I'm pretty desparate for money- but not desparate enough to set a precedence for that sort of future expectation. I requested an increase, so we'll see how it goes.

That's bad!

I have always tried to give thorough comments and deliver the best work I possibly can. With FARV,they are always last on my list and I only accept the orders if property is enroute to another destination. They used to be my bread and butter" but now they are like leftovers for the dog. They don't appreciate your work and are less personable. I also don't understand why they do business this way.

I started with FARVV. I was told about them and CC at the same time, but was afraid to do "too much" at once. I did FARVV only for a couple months, then felt confident enough to do CC. I saw those checks for CC and I was like "woah". I didn't know you could get more than $40 for a drive-by or $80 for interior. LOL Now I am signed up with about 15 companies, but only have had orders from 3 at this point. I feel good about 2 new ones I signed up with earlier this week.

My broker told me when he used to do them they were $25- back when he had to do the forms by hand and develope film. I do drive-bys for $40, as it only takes me about 2 hours (travel <10 miles included) and I get enough in a week where I can make one trip and catch 2-4 at a time. I find that acceptable.

Doing an interior is so different though, you have to coordinate schedules and I have to make sure someone can watch the baby and it always takes me like 1/2 hour while there. Add 8 comps on top of that- $50 is really scraping.

As an aside- I couldn't imagine doing BPOs with FILM cameras! Good grief- what if your shot was "off" or the lab screwed them up? Developing the film would be like $5-$8, then you only get $25. He was really impressed when I "found" BPOs and he saw they are all online and digital now.

I just got an interior from them for $40. I got the order and didn't even realize it was an interior (come on, for $40, it didn't even cross my mind that it could be an interior), so I accepted it. Then I checked the photo requirements, and it says interior rooms.

I told them to either reassign it or up the fee to $80. I also told them that I did 2 exterior BPOs for them this week at $50 each, and an interior is more work - why would I work harder for less money?? This is just nuts! I guess I've learned my lesson (again) about reading EVERYTHING before I accept.

At least now I have a couple of hours free this weekend to celebrate the holiday.

Speaking of some time off, does anyone know if any of the companies are working on Monday. I figured since they work with the lenders, they are propbably going to be working but thought you guys may know better. Happy 4th of July.

Margaritaville,

You really should read through everything, because that $40 interior only required 3 sold comps and no list comps. That is why it was $40.

I still would hesitate to do an interior for $40. About half of my interiors I have to make 5 or 6 calls to try to get the owner and then about half of the half I then have to call a tenant at another number a number of times to get an appointment scheduled.

Add onto that the small percentage of the times that the tenant or owner is not there when I show up and we have to start the process again, I don't take any interiors less than at least $70. It's just not worth it for me in my market.

Also, interiors where the contact person is the owner will never be an REO opportunity in this market so there's little chance of a backside commission on the work.

I agree, Gig Em. The only time a $40 order MIGHT be worth it for me is if it's a near by property inspection. Don't forget about the gas it takes to get there if it's not close + your time.

I took a $70 interior the other day from another company, just because it fell between 2 drive-by's I was doing at higher fees (and I didn't notice it was an interior until I'd accepted and printed out the paperwork). In this case, it worked out smoothly, but I did tell the rep that I NEVER do interiors that low, so don't expect me to accept any more at that fee. She kinda laughed and said it surprised her that I did...
Hey, getting 3 orders in a nice straight line in this area is NOT gonna happen often!

I guess each person has to make up their mind on their own fees, keeping in mind how fast they can complete the order, the hassles that might be involved and the distance. This is why the fees offered are so different from different companies. They hope for an agent that they can find someone to do them cheap.

The key to FARVV bpos is to only do those either close in or on the way to other work, ignor all the "extra" fields on the form that are not required, and estimate data such as distances, etc. where you can be resonable assure that you are relatively correct.

YOu can't afford to spend more than 1/2 hour on a $40 bpo that is any distance away or you are doing pro bono work.