8/29-8/31 Old Republic is going nuts with orders on Labor Day Weekend-told you so....Joey Singh
Old Republic is sending orders nationwide like mad nationwide yesterday and today!
Old Republic released at least 5000 unassigned paying BPOs to the their system last night, Chase and Fannie Mae from my bird..see the bigger picture its not $30 dollars per, its $600 dollars to drive to places for 2-3 hours.... This is a tip to make money...our firm is not affiliated with Old Republic in any form or shape.......also don't call and moan/curse out/threaten me about disclosing it your fellow Realtors..rude Chicago guy...and downright obnoxious Los Angeles broker....(lol, I have caller ID)..I'm actually a born and bred New Yorker so I know how to swear as well...
Anyway, our brokers tell us that OR is desperate because most agents have left their offices for the Labor Day holiday, so the ones that are still in town working in your respective markets are making some more money than they normally would...with Order volume dropping like a stone every little bit helps...
Seriously don't call me to complain about revealing this information....
Your welcome
Joey Singh
Ameritax BPO Inc.
Business Development
Tax and Business Consulting
AmeriTax Inc.
Learn how we can increase your business with our marketing help!
www.TheAmeriTaxWay.com -
JSingh@theameritaxway.com
Skype: Ameritax1
1 212 801 2390 Office Ext 888
1 516 881 0126 Direct Assistants Line
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1 917 859 4400 Cell
http://www.linkedin.com/in/joeysingh
Replies
Joey, why do you have to end your announcement with "...told you so"? Is that really necessary? And how do you figure $600 for only 2-3 hrs? Seriously? At $30 per BPO that would mean doing 20 BPOs. There is no way anyone can do 20 BPOs in 2-3 hrs. Not even with an autofiller. And if you are just talkiing about driving time, unless all or most of those BPOs are in the same concentrated area, that's not going to happen in 2-3 hrs either.
If Old Republic is so desperate maybe they should start offering higher fees in general and even higher fees for holiday orders.
Anita - Thank you for saying it for all of us. Joey, while I appreciate the announcements of the BPO orders and your analysis, the "told you so" thing is just too smart-alecky for me.
You are right Anita the fannie mae forms take a longtime very long and very difficult in the beginning the exteriors not as bad but come on 30 dollars i cant see for a while after them lol.......terrible forms then you get that fannie mae.............boy.......kathy s
I just reply to the BPO mills with: "Yes, I will accept your assignment. My fee is $100.00." Because I'm worth the $25-35 per hour doing the job of an appraiser. They really should just hire a Professional Appraiser ... IMHO
Hummm lets see if this is correct, 30.00 each. 5.00 for gas each which is only about 1.2 gals. so that leaves 25.00 each
Now lets estimate taxes at only 6.00 each so that leaves 19.00 each . It takes at least 15 minutes to drive to each one. about 2 hours to complete the research, the forum,pass the QC so that is 2.25 hours each and that is all very conservative and we all know that. So now we have 19.00 divided by 2.25 hours and that is 8.40 per hour not counting the cost of paper, ink, car wear and tear, E&O , required licensing education or any other expenses at all. I am really sorry but to me that is just not enough for any self respecting agent to take the Holiday weekend or any other day for that matter to work for. If you took 2 hrs promoting yourself, or working expired listings or FSBOs I can promise you,you would earn more than 8.40 per hour by far. Why get excited over 8.40 per hour?
I agree with your break down, I can't understand why any Realtor would even consider a drive by fee of $30 in year 2013. I'm sure it's been said numerous times but I can remember doing drive'by's for $50 in 1993, etc. No photo's,a hand written 1 page form requiring 3 solds, 2 line paragraph describing property. No scanning, emailing just a fax. 2 weeks later a check would show up in my mail box.
If more agents would just say no to these low fees, they would have to increase their fee. Sometimes I'll accept a low one, wait 3 days for them to start screaming and then respond You can have it in 2 hrs, however my fee is $60. It almost always works. Make sure you get email confirmation.
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