This is simply a query, folks. We all receive so many BPO valuation requests - I rarely do them anymore because of the low pay and time involved. HOWEVER - is there anything to prevent us from contacting those homeowners to begin a real estate relationship? We know that although some are just re-fis or something innocuous, several will be for pre-foreclosure purposes. What do you folks think about our using that list as a lead list?

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  • Most are refi and taking a HELOC. Why contact someone who is not even thinking about a sale?

  • go for it, I don't think you are in violation of anything.  Check with your DOS first.

  • I think it's a great idea. I get many orders I don't take but it really can't hurt to explore the owners' situation for a future relationship. 

  • I would add that the Gramm-Leach-Bliley Act has some restriction on this.  I tried a 2 postcard system to a former HSBC bpo I worked and was the preferred agent in Portland.  The postcard really didn't work as many of the owners had already given up and left the property.  Currently bpo's I am getting seem to be the crap that is leftover from the recession and many are vacant. You also need to make sure you are not violating state law privacy acts to. 

  • Personally, I would not contact them.  

  • There are some companies that specifically state you are not to solicit business from the orders, owners, etc. 

  • I say go for it. There's no ethics or rules against it. Look for your agreement with your client.

    When I have done interiors where the POC is the owner, I make it clear to them who my client is and that I have a fiduciary relationship. If the owner  contacts me later, that's an independent relationship. 

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