Corelogic started a bidding system last year. Its genius, really. They know that trillions of broke brokers are clamoring to do BPOs. They know that they get the difference between what the investors pay and what we get. They would like us to do BPOs for a dollar. Well, how do you keep brokers if you drop fees? You dont drop them---you make the brokers cut their own wrists! You put out SPIN (must be democrats) and tell agents how they can get gobs more business by underbidding their fellow field agents. To show they are not heartless, one can OVERBID the normal fee too---lol.
They show you the average markdown of the agents in your grouped area so you can drop the fees even more to get all that yummy new business.
Kudos to them for this plan, as we cant blame them if we accept a once $50 BPO for $38. I told them that this is exactly what they are doing and that it was SO transparent. They were my top provider and now I get zero biz. Guess I cut my own wrist after all. What do you think of the bid system?
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Stick to your price. You can run an experiment lower $15 see if you get more. It did not trigger any more work so I went back to the regular price. Right now their IE photo uploader does not work. I am on vacation with them. Assignment is way down this year. HELP HELP HELP FARV
Regarding the two capture companies that responded here---you are vultures. I didnt ask for an ad---I wanted a conversation about Corelogics bid system. Besides, I dont believe in having anyone else capture a listing but the actual agent who can better judge what he/she should take or turn down at the time. And, some bpo portals do not want A CAPTURE SYSTEM USED AND WILL CUT YOU IF THEY FIND OUT.
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crappy bpos, by un-motivated realtors...... who will look for the quickest way out of them instead of analyzing them correctly.... and chasing them out into counties they don't know..... kinda like asking an indian person from sri lanka to value a home in Miami..... yup... good luck w/ that.... it will bite them back one day....
I really feel the reo biz as it has been in the last 5 yrs... or in the previous 15 yrs... is no longer viable. I believe the banks have had time to analyze this and sink their hands back into our pockets. This industry is now cannabalizing itself with 10 conferences a year.....fees for bogus certifications..... background checks galore.... and starvation level commissions and bpos... not a pretty site. Am focusing on buyers with money, the work maybe slower and more tedious, but its way more honest than what lenders and middle management asset co's are doing to us. ( Ive been an reo agent for 12 of my 15 yrs).... am done with that ... Now, I only work for about 4-5 companies.. and as they mis-behave, they get cut...... ( I might add, I have more time for my current "few".....They are getting a great quality product from me.....now I have time to breathe... its a win win!