• walk away

  • Since I posted on May 16 until now May 23.  I have done 1 BPO and received two more REOs.

    A big part is not what you pay, but what your history of BPO, REO / distressed property work has been. 

    Agents may think they are GIVEN REOs,  not quite you have to earn them. Plus keep the REO clients profitable too.

    Best of luck

    • I'm sure it happens to a very few handful of agents and i bet you are in a much busier REO market than the rest of us.

  • Such a deal!! don't incur any tax consequence, either!

  • It is my business practice to not work for free, EVER. You agents who work for free for a chance to get an REO put no worth on your time, gas, E&O, ware and tear on  your car. Yes you may get an REO listing after doing 25 BPO's but what is your check after all expenses and taxes? If  you are in CA and sell a $500,000 yes it may be worth it but I live in WI and my commission checks after franchise fees and company split are like $1000. 

    USRES would never work for free so why do they expect us to? Pay us the god damn $50 for the BPO and give us the listing too you cheap assholes!

    • My sentiments exactly. I learned quickly the first year I tried this, I never did one for USRES for that reason, The only free BPO I do is for the REO I am listing. This is a trick to get you to work for free. Learn from everyone's experience is my motto. I hear you loud and clear. I wont settle for 1 or 2 % commission on REO listings either.

      • National Default Servicing only pays 2% and the selling agent 3%.

        How do you get them to go up or do a 50/50 split? They told me if i don't do it for the 2% they would just find another agent. 

        Why pay the person who has all their money tied up in utilities and advertising less money?

        • I take the ones that are 5% - 6% Listing Agreement and I do not pay utilities. I have been fortunate that I have not had to take ones that require you to jump through too many hoops and pay you only 1 or 2 % to listing. I have been on the selling side where I was screwed and the listing agent took all of the commission except 1% wont do that again either. There are agents out there that have listings like that and many of them I just choose not to.

          • I take 5% listings too, well because that is all they offer but in the listign agreement it says straight out Listing agent 2% and selling agent 3%.  

            I tried so many things to get around that but in the end they make the title company cut separate checks so we cant control the commissions :(

            • I haven't had to do that yet. Thanks goodness. So I hope this company is sending you lots of listings. There ar people in my office that do.

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