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#463055 - 12/10/18 02:53 AM Have BPOs gotten better (AKA- higher pay) in the last few years?
Granta Omega Offline
Member

Registered: 05/01/15
Posts: 178
Loc: Dallas, TX
When I was 19, I went into real estate for the first time, and nearly all of my profit was from BPOs, and that one sale from a family/friend a year would be used to pay for the expenses of being a realtor.

I went into the business again after college because I thought being more mature and hard working would yield success, and I thought the 5-10 BPOs per week along with other side jobs would be enough to make a career out of, and getting a listing and sale every couple months would be a bonus.

However, after doing a few BPOs and making between $35-$50 dollars, combined with the fact that for some odd reason, the only BPOs I was getting were the most awkward homes where either it was a condo with $900/month maintenance fees, a run down home on a main road, once they tried sending me a commercial property as a residential BPO, or ones that I had to make an appointment with the owner to take pictures (which I often refuse as they either forget the keys, don't show, etc.). I was never actually getting any BPOs where I didn't have to make a bunch of wild guess adjustments. It ended up that these were taking so much time that I was getting about 7-8 dollars an hour and spending gas money, that I was making more money driving for Uber and not having to do tedious research to do so.

Right now, I'm working on developing software along with substitute teaching, and driving for Uber and Lyft, and delivering food through Uber and Postmates. I'm autistic, so the only work I'd be able to do for real estate was maybe the REO listing, specializing in short sales where most of the negotiation is with banks and not the clients, and some of my photography and video editing.

I'll probably never go back into real estate again, but I was just wondering if anything had changed making the non-people related work better if I ever wanted a side business again.

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#463061 - 12/10/18 09:52 PM Re: Have BPOs gotten better (AKA- higher pay) in the last few years? [Re: Granta Omega]
TheMotorCityDon Offline
Member

Registered: 01/25/08
Posts: 118
Loc: Detroit, MI
Originally Posted By: Granta Omega
When I was 19, I went into real estate for the first time, and nearly all of my profit was from BPOs, and that one sale from a family/friend a year would be used to pay for the expenses of being a realtor.

I went into the business again after college because I thought being more mature and hard working would yield success, and I thought the 5-10 BPOs per week along with other side jobs would be enough to make a career out of, and getting a listing and sale every couple months would be a bonus.

However, after doing a few BPOs and making between $35-$50 dollars, combined with the fact that for some odd reason, the only BPOs I was getting were the most awkward homes where either it was a condo with $900/month maintenance fees, a run down home on a main road, once they tried sending me a commercial property as a residential BPO, or ones that I had to make an appointment with the owner to take pictures (which I often refuse as they either forget the keys, don't show, etc.). I was never actually getting any BPOs where I didn't have to make a bunch of wild guess adjustments. It ended up that these were taking so much time that I was getting about 7-8 dollars an hour and spending gas money, that I was making more money driving for Uber and not having to do tedious research to do so.

Right now, I'm working on developing software along with substitute teaching, and driving for Uber and Lyft, and delivering food through Uber and Postmates. I'm autistic, so the only work I'd be able to do for real estate was maybe the REO listing, specializing in short sales where most of the negotiation is with banks and not the clients, and some of my photography and video editing.

I'll probably never go back into real estate again, but I was just wondering if anything had changed making the non-people related work better if I ever wanted a side business again.


Yes it has significantly changed over the years. I don't know how old you are now and what year it was when you were 19 but I remember in 2008, I was making $50 minimum on a drive-by BPO and $125 for an interior. Multiple orders a day, a lot of times in the same neighborhoods. Now its so watered down... $30-$35 is the average exterior pay. Simply not worth the time and effort with most companies. Goodman Dean still pays $50 for an exterior but I only get 1-2 orders a month from them. I am not sure how much work they have in your area but I would definitely sign up with them. Old Republic pays $30 for an exterior but I havent completed an order for them in over 3 years since they've reduced their prices. I must ask... what type of software are you currently developing? Sounds very interesting.

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#463063 - 12/11/18 12:10 AM Re: Have BPOs gotten better (AKA- higher pay) in the last few years? [Re: TheMotorCityDon]
Granta Omega Offline
Member

Registered: 05/01/15
Posts: 178
Loc: Dallas, TX
In 2008, I was 21. For about a year, I was getting regular BPOs for about $50-$65 for exteriors, and $85-$100 for interiors.

I did my first one in June of 2007, and then by July of 2008, it felt like they were disappearing except for maybe one order every now and then. This was also before smart phones, so I had to be at my computer to accept them. By the time smart phones came into the picture, there was maybe one every now and then.

I did most of them with LandAmerica and eMortgageLogic, but both of those companies were gone by the 2nd time in the business. I also did Loss Mitigation with Titanium Solutions, but they went out of business too. I had 2 REO listings and sales through MDWebb, but they were gone as well.

What I found out from others in early 2009 was that the banks were starting to be ordered to do all these loan modifications and give the owners more time to pay, that they often lived rent free for around 18 months until the bank came around to actually foreclose and order them to move out. Thus, they no longer were ordering BPOs, because an opinion meant very little to them.


I was in Cleveland, Ohio at the time.

I've developed a few desktop applications in java, and I'm also learning javascript, HTML, CSS and I'm also learning how to make databases in mySQL.

There is probably near a 0% chance of me ever going back into real estate. If you have taken calculus, the limit of x is just above zero, but approaching closer and closer to zero each day.

The problem now though, is my sister is a realtor, and I was shocked with her experience in public service and social work, that she would choose a commissioned sales job. I think it's because of who she knows, and also one of the best agents in the Cleveland market put her on a team and gave her a bunch of leads, and she closed about 5 of them in months so far. That makes me a bit jealous/frustrated, because I feel she is having everything handed to her when I couldn't get clients no matter how hard I was prospecting. I even went as far as going through the obituaries to prospect to widows after FSBO, Expireds, giving my card to everyone and contacting all my local facebook friends, as well as going on Craigslist yielded only a bunch of losers with 1 sale and 2 rentals in about 6 months. So, I don't know if that makes me jealous as much as it makes feel that she is just flaunting her looks personality, which I don't have. She is also not autistic though like me, so she doesn't shy away from social situations and getting involved.



Edited by Granta Omega (12/11/18 12:11 AM)

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