COMMERCIAL BPO

Hello Team

Below is the e-mail I got yesterday. If some one is interested in doing Commercial BPO.

Are commercial BPOs are very difficult to do that?. And how much you can ask to pay ?

Good Afternoon,

My name is Dan Monaco and you are currently in our system to complete residential BPO’s for Secured Lending Services(SLS). SLS completes BPO’s for HSBC and you fill the form on our site: www.irepvm.com. SLS has a sister company called National Real Estate Information Services(NREIS). NREIS has clients that will order BPO’s with us from time to time, (you may be already completing BPO’s for NREIS). Here, there isn’t a website that you will fill out the forms. The form and the order itself will be emailed to you.

NREIS has a new client that will be ordering commercial BPO’s with us. They are Wolters Kluwer. They will be ordering commercial BPO’s and commercial property profiles. A commercial property profile is just short form of the commercial bpo. Where we need just 3 sales and no listings.

I’m sending this email out to our SLS agents to see if anyone does commercial work. If you do or know anyone that is, please let me know.

I would need to know what counties you cover and fees. Fees for commercial exterior and interior BPO’s. And for commercial property profiles.

Any questions, please feel free to call or email me.

__________________________

Dan Monaco

Vendor Relations

NREIS / SLS

Title | Appraisal | Settlement | Default

P: 1.800.753.3339 x5954

F: 1.800.307.4118

dan.monaco@NREIS.com

www.NREIS.com

Replies

- Kyle Whissel > Billie Dalessio November 4, 2010 at 10:51am
  
  Very few banks have a form to use so we just made our own with all the fields that we know we can obtain from the MLS, Loopnet and CoStar. They LOVE IT!!!
  - Sajidah Malik > Kyle Whissel November 19, 2010 at 1:19pm
    
    Kyle,
    The info you have provided has been so great! Thank you. Would you mind sending me a sample form? I have been trying to put one together and want to see if I am covering everything.
    
    My email is smalikrealtor@gmail.com
    
    -Saj Malik
  - ZUBARIA LATIF > Kyle Whissel November 8, 2010 at 7:22am
    
    Thank you all for your feed back. I always learn.
Chris Butterfield November 4, 2010 at 8:12am

Kyle, once you get rolling, how long does it take to do one? I am thinking that this would be a good way to break into commercial market.
- Kyle Whissel > Chris Butterfield November 4, 2010 at 10:50am
  
  I can do one in about an hour (excluding taking photos).
Kyle Whissel November 3, 2010 at 5:01pm

We do not good amount of them. If you don't have CoStar, it can be EXTREMELY difficult. If you're not active in selling commercial real estate, the cost of CoStar can be overwhelming.

As long as you have the right software, they're not too much more difficult than residential BPO's once you get used to them. The main difference is lease comps and more market info/stats.

Depending on the situation, we charge anywhere from $0-$500 to do a commercial BPO.

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