Had a company call me about a month ago to try to get me to do a BPO for them in a neighborhood I'm familiar with; don't remember the firms name, but they mentioned a $50.00 fee for doing the work. I looked at the phone "like you have got to be kidding me". So pleasantly said sure and took down the info. but threw the paper in the trash.

The compensation versus the expenses incurred for travel and time just did not add up.

So you agreed to do it and then threw the information away? Why didn't you just tell them you didn't want to do it?

Ask yourself this... What is my time & expertise worth per hour? In my book, it's more than $50.00!

Last BPO I did was for $75.00 (mid last year) and it's because I told them not to waste my time for less than that. They were getting a bargain at $75.00!

The rest of my conversation went something like this:

Time & money go hand in hand... if you want a cheap $50.00 BPO, then I'll give you a cheap $50.00 BPO.. comps and no photos.

You are playing a game of who will do it for the fastest and the cheapest. If I had 50 BPO's a week that you would guarantee me, I would negotiate my fee!

I don't sit here in my office hoping that you'll call, as you are the sole source of my income!

They said something about being removed from their list if I did not accept the BPO request. I told them to bother someone else with less to do!

Scott

If it really wasn't worth it to any of us doing them, do you think we would be doing them or there would even be a forum here for discussing them? Just like anything else in real estate- or life for that matter- some are worth it some arent. To accept a BPO and then just throw it away is irresponsible and hurts the reputation of real estate agents. If you don't want to do them, don't accpet them- more for the rest of us. BPO's certainly arent for everyone.

Currently, I have 1 active, and 3 soon to be listed REO properties, that I received directly from performing BPO's. Oh, and just made a house & truck payment w/part of the cash I made in January doing BPO's. So, yeah, it's worth it.

To all those that find worth in them, more power to you. In my situation it's just not worth my time.

To A & M Team: In my book irresponsibilty begins with the devaluing of ones time, knowledge and expereince which is what the lender was doing in my case and does in so many others.

It seems like you just posted to let us all know that you are "above" doing BPO's. For myself, I happen to LIKE doing them and it keeps me up with market value in my area. To each his own.

BUT to purposely accept it when you knew you weren't going to do it?

Whether it's a 15 year old kid just not showing up at his part-time job at McDonalds because he doesn't feel like it - or a real estate "professional" making a committment with no intention of following through....that is just plain irresponsible.

In response to your comment to me-
I have difficulty believing you see nothing wrong with accepting work and then just trashing it. I still hold my ground and call it irresponisible. Im not sure why it bothers you that I found it irresponsible, you seemed proud of it. Simple difference of opinion- it happens. Best of luck in your other endeavors

Yeah you're right, your time is worth far far more than $50.00 an hour... I mean just look at all the value you brought us here in your .25 hour participation in the board. I'm sure you spent the hour you saved by not doing that BPO generating comission income, right?

No, they made you a specific offer of compensation in exchange for completion of a specific task.

If that offer was not sufficient to meet your minimum, the professional response was to simply decline the order. Agreeing to accept an order that you have no intention of fulfilling is called lying.

With your own post(s) you have announced to everyone here that:
1. you don't mind lying.
2. BPO's are beneath you.
3. agents who complete BPOs have allowed others to "devalue" their time, experience, & knowledge.

That about sum it up?

Best of luck to you.

drobin, explain to me how $40-$50/hr working whatever hours of the day you want, only rule is you have to take pictures during daylight and you have a certain amount of days to get the order complete in. Figure 40 hours a week as a normal work week($1600-$2000/wk) or $83,200-$104,000/yr. Take into account that most Realtors that make that doing retail sales actually work 50-60 hours, which will increase that number quite a bit. Not to mention the knowledge you gain from them on the market, the homes you see, etc.

Please explain to me how they are NOT worth it?

Also, expenses for travel? You are driving 20 miles tops, or a whopping 1-2 gallons of gas or $2-$4 in expenses.

With the changing trends is real estate, don't knock the BPO's. The companies might be looking for you now, but one day you might be looking for them. When the market slows, or changes, the same $50.00 you trashed starts to look good,when you're getting more than you can handle per week. It's better than waiting 30 days or more working your a-- off, getting to the table, and the sale fall through. So when it's slows, and we all know it does, unless you're that well off, to answer your question, of course. But it looks like you're burning you bridges before you even start, and that to me is not a good idea.

I stay current on market trends and can assess property values in the general area with detailed accuracy.

If pure greed is your thing though, then BPOs are definately not worth it.

Is doing BPOs really worth it? Well, if I only had one to do, absolutely not. But when you get several companies who send you regular work, negotiate your fees so those travel expenses are covered, and you learn the market well enough to get them done pretty quickly, they are absolutely worth it! I have not only gotten REO listings from my BPO work, I have done BPOs on homes not yet on the market and know what to be watching for, so my buyer-clients are ready to look the moment they are on the mls- so I can credit 2 sales directly with having done BPOs. In my area, i could never make a living at BPOs alone, but they sure add to what I make on sales, and add to my sales as well.
It's all a matter of perspective, and from mine, it's been well worth it. Of course, if my time was too valuable to spend working on different venues to expand my business, then I would see it differently, I'm sure...

...need we really say more?

And if it takes you an hour to do 1, you're too slow. Our time is definitely worth more than $50 per hour.

If it takes you several hours to do one it's not worth it. Depending on the company I can usually bang one out in a half hour or so. I do them in my spare time and make a little over a grand a month. For me it's worth it. BPO's are just gravy.

More than an hour? I'd be hard pressed to go drive and get a pic, drive back, sit down, upload pics, and do the entire report in much less than an hour. I can complete the report in a half hour, sure, but you have to include the time it takes to get the picture in there as well. Also, if our time is worth more, then how many agents do you know make $100k/yr working ONLY 40 hrs a week after their advertising expenses? Here anyway, not a ton, and if they do they are working sundays, saturdays, weeknights, etc. as opposed to whichever hours they choose.

Chase

Many of us do more then 1 a day. We take all of the photos in one trip, so when you average it out, it is under an hour. When you are trying to get started it isn't worth it because they are hit and miss. Once you get going they come more regular and that is when you make the money.

Actually the key to time management is to take your photos as you do other tasks. I actually have taken exterior photos of homes while showing other clients homes in the area. I have never had a client get mad if I asked them if they would mind if I drove two blocks to take a photo or two of a house that I may be getting as a listing.

Sure, my point being they're good knowledge and really not bad money either once you get going at them. I got 13 one friday and did them that weekend, that is where I came up with the hour average. Granted some of these were 20 min away, but as you say since I was doing them in one trip I accepted them anyway. It was something like 5-6 hours to take the pics and another 5-6 hours to do the reports.

Well I guess "drobin" depends what you care to make in a year .. 2005 made $126,000 on just bpos'... not counting the just over the 6 fiqures I also made on the 10 rehabs my business partner I did as well in '05. Not bad income for here in the midwest
All without carting around would be buyers or having sunday open houses to hold. etc. etc etc. But pretty much a 45 hrs week,on bpo's & giving me time to spend with my family ... so everyone just needs to find their own niche...

1. BPOs are not beneath me. "Devaluing my time is".

2. It was only after the call had ended, that I realized that this task is not worth my time.

3. Have gone on other BPOs since, because compensation was worth my time.

Sorry, everyone - "Devaluing my worth" is definitly beneath me.

drobin, approximately how much did you sell in real estate last year?

Chase.

Dana, you have 4 listings right now, 3 of which are currently colisted and two listings sold in the last almost two years according to your website. Wouldn't BPOs at $50/hr be a great supplimental income to your real estate career?

CallChase, LOL!! You did your research.

Call, the number of listings on a site may be an indication of amount earned and may not. I probably only have 6 or 7 currently on my website, but sell probably 3 out of 4 listings before they get on the site and if so, they never get there. Close 92 sides last year, so not too shabby.

CallChase, please tell me you have more important things to do with your time. Yes, I have several listings, so what it's no indication of th amount of deals that I'm involved in that don't make it to MLS or any public listing site or ones true net worth.

This is for everyone that holds a greater value in "some BPOs" than I do: More power to you :-)

Yes, I have better things to do. But when someone begins a topic asking if BPOs are worth it, assuming people who do them are going to respond and read, and then have the audacity to say that we are devaluing our worth, which is blatently insulting us, I am going to take the time and see what kind of business you are doing that is making you over $100,000 per year to make you think $50/hr is not worth it.

When I run across 2 listings sold in 2 years, and 4 listed in which only one is solo listed on your company's website, it puzzles me how you can tell us we are devaluing our time doing BPOs.


Chase

Dana, do you charge for a CMA? Do you offer as a free service a CMA for estate planning or property tax abatement? Are you paid to attend broker open houses, or broker tour? If not, do you consider these activities devaluing your worth? BPO's have greatly expanded my knowledge of my market, and have produced many listings and excellent contacts with asset managers. The companies I perform BPOs for generally pay $65 to $125 per order. No one in my office could "waste their time" with BPO's, but now, as the market changes, many want to jump on the bandwagon and even ask for my contacts. Performing BPO's is business development and market research with pay. Can't beat that.

Karen,

Couldn't have said it better myself!!!!

My old broker recently sold his company (a national franchise office with 6 agents) to a locally-owned company with several offices (and about 150 agents). In the course of doing some LMC work, I ran across an agent who works for the same company, but from a larger office. He seemed a bit aloof, but trying to be friendly, I asked him if he ever did any BPO work. "NOOO," was his disgusted reply. "IIIIIIII sell reallll estate." This came from a guy who has had a listing almost as long as I've been a Realtor (4 years) that started out listed at $1.8 million, is now at $695000, and is probably still overpriced by $200000, simply because our area doesn't have the money to support such sales (average sale $110000, 3 BR ranch around here). This guy's been running full page ads twice a month in the property magazine, not to mention all the other advertising he must be blowing money on, for HOW LONG? THAT is what I call "devalued time!" However, I was surprised and very happy at our recent company awards dinner when the award for Top Sales went to a lady who does what...??? BPOs and REO sales!!! Can't think of a niche I'd rather be in!

Is it worth it to do BPO's? No way to provide a generic YES or NO answer. If you have to write a derogatory response toward one another, then it shows your insecurity. Hey, if one enjoys doing BPO's for Free, then let them. If one takes 3 hours to complete just one, and they make pennies on the hour, but enjoy what their doing, may god bless them in their happiness. If you enjoy what your doing and get paid what you believe is fair, then you're more "successful" than those who are unhappy and feel the need to put other down. Being "successful" does not mean being a "top producer" in my book. Being happy about oneself is success in my world and that can include doing BPO for a living.

mypreferredagent:

"If you enjoy what your doing and get paid what you believe is fair, then you're more "successful" than those who are unhappy and feel the need to put other down."


NAILED IT.

AMEN!!!!

I 2nd that!!!

Hi, I am very interested in doing BPO's. Could someone please direct me in how to get started?
I would so much appreciate any information that anyone could provide.
Thank you,

Hi, I am very interested in doing BPO's. Could someone please direct me in how to get started?
I would so much appreciate any information that anyone could provide.
Thank you, :rolleyes:

Doing BPO for the cash it brings in is marginal for many agents... except those that can do it well and in coordination with other activities.

$20,000 to $30,000 in extra cash may be peanuts to some but most new agents make less than $12,600 per year according to the latest NAR data.

One of the real value in performing BPO's is the gain of market knowledge and understanding how it changes over time and for what factors. You can get an idea of what is about to happen... not just what Is occurring.

For me it is the opportunity to get listings, as REO or other wise. I have picked up many more upper value homes as listing because I performed some form of BPO earlier, often a 2nd mortgage interior or PMI removal eval having nothing to do with foreclosures or REO. You get to meet the owner's with those and have the opportunity to expand your COI.

I have also brought more than several dozen of these BPO subjects into the real estate investment world and now also, often perform Property Management for them and their holdings I assisted them in acquiring.

This is harder to do with the "don't contact owners" type BPO's but most are not that type.

Don't be bothered with agent who feel they are better suited to take a seat in the office, look cute and play computer games, drink coffee and read newspapers and talk on the phone with friends about last nights TV shows.

Most newer agents you meet will not be around in a year or so... others will replace them... agents that have developed a strong BPO and REO client base actually have 1099 income which can benefit the agent in many ways in promoting their real estate business.

I just closed on one of my REO listings today, which I would have never had without registering with BPO companies. A few bills get paid off tomorrow with the commisssion. Yep, it's definately worth it to me!

i hear a lot agent saying is it worth it to do Bpo's

My only question to them is this

WHERE ELSE CAN YOU EARN 40-75 AN HOUR, AND WORK YOUR OWN SCHEDULE

"My only question to them is this

WHERE ELSE CAN YOU EARN 40-75 AN HOUR, AND WORK YOUR OWN SCHEDULE"

private massage--(with happy ending you can get $100-$150)

I guess it is all about skill set?

BPOs are worth it. They can lead to REO listings if they are done with companies that assign listings. BPOs are a great source of revenue in this tough market. You can do them full time and make a decent living or part-time and supplement your income. BPO income can pay for your real expenses. BPOs are a great way to learn the local market and keep up-to-date on trends.

Ok so 10 pics yesterday, all in 8 square miles - took less than an hour to take pics and costed approx $5 in gas?? Then the sit down time to do the BPO - Your looking at $75 an hour for taking a drive with my 3 yr old twins girls, and then sitting in my living room (while I cooked dinner and did laundry) and working at my computer while I watched reruns of "That 70's Show". Man I wish these companies would stop wasting my time. I mean how am I suupose to get anything done and make any money while they are devaluing my time everyday.. geez!!

[quote=seasaw]BPOs are worth it. They can lead to REO listings if they are done with companies that assign listings. BPOs are a great source of revenue in this tough market. You can do them full time and make a decent living or part-time and supplement your income. BPO income can pay for your real expenses. BPOs are a great way to learn the local market and keep up-to-date on trends. [/quote]

Couldn't agree more!!!

I second that motion!

Or...........

You can get to the point that you average such a high number of BPOs per week/month that you totally abandon sales. That what happened to me in 2006, and I haven't sold a house that I wasn't part of the transaction since, nor do I care to. I have turned down numerous chances to list REOs, as that would take away from my guarnteed BPO income.

When you get to a certain level, why "hope" things close when BPO income is assured?

Or you can look at REO income as icing on the cake!

Wow this thread is old.

I didn't get into the BPO biz until everything went to ****, so I'm wondering how it is when the market corrects itself. Depending on what kind of competition and revenue there is will determine if I continue with the traditional resale.

I would be interested to know, of the people that do this full time are you brokers or sales peoples? And if you are salespeople how does your broken feel about you only doing bpos. Does the brokers split equal what they would be getting if your were selling. Also as anyone considering becoming an appraiser to supplement the bpo income?

I would love to manage a large pipeline of REO listings. Unfortunately I have minimal inventory. BPO's take care of my family, pays my rent, car note, food, bills, clothes, my oldest son's private school and my youngest son's private daycare. We take the REO's as a bonus. However, like I said earlier, I would love to manage a large pipeline of REO lisings instead of doing BPO's fulltime.

It's interesting seeing the posts on this thread from 2006. I wonder if drobin is still in the business. Maybe doing full time bpos? I started doing bpos in 2006. I had done a few in 2001 and didn't get paid so I was a doubter for awhile. Then evalsolutions called and I was lucky I got paid I guess. Then I found this forum. Started signing up with companies. I'm a broker/owner not just an agent so I feel this helped me get in the door of some companies more then an agent would. In 2008 I earned about $35,000 from bpos and another $25,000 from REO listings I got that year from doing bpos. So yes well worth it. This year has been slower. Only started getting listings again 3 weeks ago and less bpo orders. But that's all good as I was to busy this summer to take on anymore anyways.

I figure on a good day when I've been able to take about 6 home pictures in one 1 hour trip and if I do 2-3 orders in an hour I'm well above $50 an hour. Or I compare myself with a former realtor who is now working at Sams Club for $12/hr it takes him a whole 8 hour day to earn what I can earn in a couple hours doing bpos. And not have to stand for 8 hours or deal with people.

I agree. I complete about 100 BPOs minimum per month so I think its worth it. My family is fed from my bpo income and I also sell traditional real estate. I like the flexibility with my life and children. It can be hectic at times with scheduling interior inspections. All in all I like BPOs, REos, and all the other o's. No complaints here. I would like more REOs and that will change when California's moriatorium is lifted.

I started real estate a few years ago and in an area near Detroit, It is ALL REO's. So that is the only experience I have is REO's. My broker does not take one penny of my BPO's and only a small portion of my commissions. He knows my BPO's eventually lead to REO's so he dont mind. Yes I do BPO's full time, and REO's part time ( if there is a such thing) I just mean BPO's are given more than REO's. He also knows that when I learn the things I need to about this business that IM GONNA RUN my area. So he has the faith that is well deserved. He knows I give 150% of what I do and that I do not do ANYTHING half way. It all or nothing. He recommended I work for 3-4 banks at a time. I took it a step further and have BPO's coming in from over 20 banks. He just rolled his eyes and said, "yep, you'll make it" LOL

Yes, this is an old thread! I started doing BPO's in 2001 when I was also selling Real Estate and a "Certified Notary Signing Agent" lol.

BPO's will be around for a long time. But many agents only do it in lean times, such as now. Many agents couldn't be bothered! Folks like me who are around for the long haul will always have the volumne!

Ya gotta at least like what you do!!! And I like BPO's probably as much as I do selling homes. I get up daily and do 5 or 6 BPO's before 6 am, thats just an hour and a half work for me. The rest of my day is focused on blogging and other traditional stuff.

Have a plan and execute it!

As I mentioned earlier in this thread, I only do BPOs. I am a salesperson, and not a broker. My broker gets 10% of my income as his part of the commission split, and do the math in that I avearge 40-50 BPOs a week and I never except an order paying less than $50. Over recent time I have "laid off" compaines that have lowered their fees below $50, and will consider them a re-hire when the market turns and less people do BPOs with more people chasing that easier to obtain $6,000 commission check.

I know some think that you should try to do both BPOs and REOs, and I understand that reasoning. Maybe it just took me 10 years to figure out that I am not a salesperson, and I much prefer the guarnteed income that BPOs provide. I don't think one in life should be everything to everyone. Thus I have in the past three years specialized in the BPO only nitch, and I love it! There is no turn back for me.

I am the principal broker. I used to do more bpo's years ago but now I do mainly a few bpo's with many site inspection reports.

The inspection reports are easier and pay more money.Takes 15 minutes to do those.In contrast some of CC's clients want a 3/3 with pics and tons of info that takes an hour in my suburban to rural market for 45 to 1 hour worth of time for the same 50.00.

I mainly focus in commercial real estate now. Love the hours and love the business.Report income is good between closing as commercial takes longer. Small projects 6 months to close and big ones years to close but the checks are huge when they come in.

I don't let my agents do bpo's unless they have a listing and are doing reports. Too much liability for my company license for the return of profit.

All it takes is a an idiot new agent hungry for cash to walk in the yard of an occupied home and take pics and then a lawsuit happens as a fight ensues.

I have found many agents will try anything to make a quick buck and as a broker you have to reel them in or let them go.

I am a broker. Personally I would never hire an agent that was only going to do bpo's. Too much liability and, quite frankly, not worth the stress and worry it would cause me.

And your opinion is valid. I guess I am lucky that my broker disagrees and sees it as an easy $10K+ a year for him with only the cost of E&O he is already providing me and other agents.

As an agent, yes they are worth it. They do get monotonous, but it is good consistent money and if you are good at streamlining processes it can be very worthwhile. You also get quite an understanding of property values and trends in your area.
I see a couple of brokers saying that they would not want agents that do BPOs only. That makes sense. I believe the thread was from an agents perspective wondering if they were worth doing.....right?

The idea (15-20 years ago I might add) was that doing them is a loss-leader to get listings, whether paid or not and generally wasn't somethng that someone planned to start doing from the beginning of their career.

I agree with the postings. I'm an agent with over 20 yrs in the business and had a disability that took me out for an extended period and I came back to this glorious market ( yay me! )
I'm in the process of taking my broker classes because of the broker comments earlier. I don't blame a broker for not wanting a lot of bpo activity and I figure it's one more reason to finally get my broker's license, at the very least I leave my options open and it's about time anyway.

The broker running a shop has to focus on what will make the company money. Period. Personally I wouldn't worry about liability issue as much income being generated, and the main objective of the salesperson, which should be sales.

I've handled both REOs and BPOs for 17 years. I look at BPOs as part of the REO arena. Not to the point of excluding the REOs but rather as a part of the service the client requests. And definetly not to the point of working for the BPO mills. I have a licensed staffer who has 2 assistants and he handles all the BPOs, both drive bys and listings. He does an excellent job (much better than I could), no QC or late issues and his efforts allow me and my other staffers to focus on the REO end. If you're not willing to handle drive bys you'll leave a lot of REO money on the table. The same applies if you tie up all your time with the mills. I agree there's money to be made with $50 drive bys. However, I believe there's more money to be made with $5,000 to $15,000 commission checks.

let me just say this---
when i was starting out--i wish my broker would have told me about bopos..
1. i would have learned more about the market than he taught me.
2. i would have actually made money the first year
3. i may have stayed with him

but that did not happen--so i got my brokers license and am keeping all of the loot!
are bpos worth it?
since every tom, dick, and sherry has signed up the last 12 months to do them--i guess it is better than working for a living!

I experienced a certain amount of ridicule years ago about wasting my time on REOs and BPOs when there was real money to be made. What most of those demeaning me didn't realize was that I and my partner were pulling in $100K a year from BPOs and even more from REOs. In addition we got on board with a number of banks at the ground level and benefited significantly when the market turned. What used to constitute a nice annual income from REOs now constitutes a decent monthly income. I agree that a lot of newcomers are climbing aboard now that the conventional RE income stream has dried up. However given the quality of some of the companies out there, one needs to screen those one chooses to work with. While I agree that BPOs, in and of themselves, can generate a decent income, I see no benefit to excluding the related REO work. The 50 dollar BPO takes on a new importance when it results in a 5000+ commission check. Is it worth doing BPOs? That would depend on who you're doing them for. You don't get desert unless you eat your vegetables first.

I could not work under such a controlling broker. My broker is totally hands off with me. It seems like you do not see your agents as independent buisness people, but rather as tools for your income. I think the agents that stick with you might be less independent minded, more like employees who need a boss to direct them. It is your business and your decision, right? I can appreciate that and I imagine it works well for you.

I like diversity of income. I know each of us is different and has different needs, so of course we will all answer this question differently. I used to work as a waiter and bartender in my youth. I always liked the security of walking off shift with cash. Now, bpos are like that for me. Like may have mentioned, I pay a good set of the bills with this income. But I would never put all of my eggs in one basket. I have different things going on always to reduce risk of low income periods. Like many other things, completing bpos is just a personal business decision.

They do have their own business HOWEVER they abide by the independant contractor agreement. If you have many agents at a brokerage you grasp a core concept. 80 percent FAIL every year. In that year most will do anything to make a buck.

I have spent years building my business and will not let a ROUGE agent put it at risk. In GA all related real estate activity per GA LAW has to go through your broker.

Some agents will lie and have checks sent directly to themselves while having your company name on the reports they are filling out without your knowledge of it.

My agents make money off of sales and that's the way I want to keep it. Having to take in and process multiple bpo checks and re-cut a check to them for a processing fee of 20.00 and then hear them whine and moan about it is not worth my time.

I don't mind REO bpo's for listing assignments as those are completed for free and not for third party payment.

They have all the independance they want as long as the rules are followed. I wouldn't want to be at a brokerage where they had no rules and no follow up.My agents appreciate boundaries,structure,and support but encouragement for out of the box thinking.

This is what makes the Universe so awesome in that everyone has choices in their lives that fit's them. I sign some agents and other I TELL they would be a better fit elsewhere (property management) for example.

I wish success to everyone however they want to do it as long as it's legal.:)

Ah, and there is the "catch 22". REO's are slow right now for me so I've been accepting a ton of BPO's ...some for mills.

Steady income BUT using up a lot of time I could be prospecting, signing up with new companies, etc. There just aren't enough hours in the day! Not whining...at least I'm getting the orders and income....but don't want to make it a full time job either.

I do bpo not for the money(money is a by product). But it force me to go into neighborhood and areas I normally would not go. This give me a great sense of the home value in each area. To be a great realtor you need to know the area you serve or your client might think twice before they hire you. As for risk well it is a matter of timing some will get in trouble other will never have a complaint. Today 95 % 0f the sales are reo and they all start with bpos.

to me they are worth it, I am new with no business, however my first week doing them I am owed over $500, if I can build on that it'll be great.

I think there are some really valid points here. Aside from being a great learning tool that no broker has the time to teach you, why not have some cash in your pocket to pay for realtor fees ( mls, board dues) and a full tank of gas when you have a buyer? a mailing to a an area where a farm might be worth something to you? Take down numbers of fsbos in the area of your order...you're doing the cma work probably looking at comps more intently than the average agent. This is a great opportunity for anyone who wants to get paid for doing research and gaining a little extra edge on the agent working those areas.

What percentage of agents do you think do BPOs?

My guess is its under 10%.

So for most agents, its probably not worth it to them to do BPOs.

I doubt that 10% even know what a BPO is. Less than 1% would be my guess.

I agree w/ Ryan. When I first approached my manager to find out if I would owe any compensation to my broker, he didn't know what they were.

NAR has like 1.2 million members, so the suggested range is 12000 to 120000. I think the answer is inside the range.