Does Goodman Dean refer REO listings to you or are they just a 3rd party that works with BPO's? I have done approximately 40 BPO's for them with no REO assignments.

Replies

- Leslie Hansen > Johnny Huang December 18, 2009 at 3:06am
  
  Hi Johnny, Yes, I see what you mean about REO's being slow now. I bet many banks have a Moratorium until after the holidays.
Greg Masson December 17, 2009 at 4:57am

After doing 68 BPO's, I recieved a call from GD saying it was time to try me on an REO. It was a vacant townhouse that was a failed short sale at $195k. Besides my BPO of about $180k, they had an appraisal done saying the value was over $200k. It was listed at $200k. We went through adjustments and finally sold at $180500. I was told I would have an automatic reassignment if not sold within 90days, It was sold prior to that. So they tried to get maximum value, but were the ones to lower price when it didn't sell. Last week I received my second pre-marketing assignment. This is a builders home on 3 acres in an exclusive community. Appraised prior at $1.7M but a failed Short Sale at $949K. I should conclude my C4K by this weekend. and then proceed with the listing. They do allow a 2.5% commission each side, with a 15% referal fee to listing agent. Overall a very good experience. GD is my favorite BPO, and now REO as well!
- Brad Oliver > Greg Masson January 18, 2010 at 11:26am
  
  Where are you located at Greg? I have been trying to get BPO's from them for over 5 months.
  Thanks
  Brad
- Leslie Hansen > Greg Masson December 18, 2009 at 3:04am
  
  Thanks Greg, I feel much better now. I was in the middle of working 3 BPO's for them when I wrote this and a little stressed because they were all very "challenging". It sounds like your wait is paying off! Good luck with the new listing, sounds like a winner!

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