Forum

I hope what I was told is true....

Posted by Chris Nelson, NRBA Member on February 22, 2013 at 1:56pm in Sample Title

I received a call from a contact a Single Source Property to inquire about how many BPO orders can I handle at once. It appears that they are going to be doing a direct assignment starting in March. As we continued to talk I was probing around volume and if it would return to it's previous levels. He informed me that they are expecting a large bulk order in March. Then, I received a call from LPS-LSI yesterday in regard to a similar situation. So, I also asked about volume since they were one of my largest vendors to date. I was also informed that they are also expecting a large (10,000+) bulk order starting next Friday. I'm hoping that these are the signs that illustrate that the BPO volume will return. Best of luck to all of my BPO agents here on REOPRO.

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Replies

Chris Nelson, NRBA Member March 2, 2013 at 4:15pm

They did exactly what they said they would. I received an alarming amount of orders Thursday, Friday and even today (from another vendor today). Between the orders received and 2 new REO assignments, it's been busy. Hope all is well with everyone.
George Avakian March 2, 2013 at 4:04pm

We work with them, they do what they say. Are you going to get rich, maybe not, but they will pay you and that should be your main concern.
Hugo W Meza February 25, 2013 at 6:25am

Chris,

I has been on board with the for a while as well, but I received very few BPOs and the QC is a nightmare. They also pay low? What I recentely received is an e-mail asking me if I do commercial properties. What do you know about their Commercial BPOs? I do defenitely do commercial BPOs. They hopefully pay better than residentials. I'd like to get in to commercial REOs if they have it.
- Chris Nelson, NRBA Member > Hugo W Meza February 27, 2013 at 5:29am
  
  Hugo, I can't say that I have any issues with QC. Initially I needed to understand what their QC dept was looking for in comparison to other QC vendor departments. I've found, like with any company, if the report is properly noted QC will not reject the order. I was told that my initial BPO approval rate, turn around time and QC revision request is what spotlighted me as an REO agent within the database. My guess is they monitor that performance closely and go from there. To answer your question, I do not know about their commercial aspect. I wish you the best in acquiring future business from them on either the residential or commercial side.
  
  -Cheers
- Trong Dang > Hugo W Meza February 25, 2013 at 6:38am
  
  Hugo,
  
  If you want to do commercial BPOs, you need to invest in belonging to LoopNet and the like for comps. It is a different animal but it does pay more. To me, it is far and inventory will be low to be worth the time to be train and the membership fees to these sites you have to belong to. But who knows, you may be the only broker in our area that does it and you may get them down the road as an REO, which will be worth your time and money.
Freddie Gonzales February 24, 2013 at 7:34pm

Hi Chris,

I was wondering if you can help me. I have recently done some BPO's for them but have been approved by them for quite sometime. I have not received a single REO but wonder if you get me introduce. My best regards.
- Irfan Moten A-REO, SFR > Freddie Gonzales February 24, 2013 at 8:26pm
  
  Hi Chris
  
  Just letting you know I am from Chicago Market Covering Cook Dupage Mchenry counties.
  
  Regards
Irfan Moten A-REO, SFR February 22, 2013 at 8:17pm

Thanks for the information how long have you been with single source? Do you know if they accepting new applicants?
- Chris Nelson, NRBA Member > Irfan Moten A-REO, SFR February 23, 2013 at 12:37pm
  
  Trong, I did mention you on the call. However, at that time the AM called me while on the road and I couldn't recall your market. Now that Irfan has also expressed interest I will bring both of your names up.
  
  Irfan, thank you for you remarks. I'm happy my logic was able to help boost your business. I wish you both the best.
  
  -Cheers
  - Trong Dang > Chris Nelson, NRBA Member February 24, 2013 at 1:25pm
    
    Thanks Chris, for faster review I cover WA, King and Pierce Counties.