Is anyone getting BPO orders directly from banks and cutting out the BPO companies?

On an exterior BPO whereby the BPO company pays $40 to the agent they might be getting at least $114 from the bank.

So if you go directly to the bank, I believe you can offer the bank to pay you $80 and get these BPOs in bulk from them.

One an interior BPO whereby the BPO company pays $65 to the agent they might be getting at least $185 from the bank.

So if you go directly to the bank, I believe you can offer to do it for $130 and get these BPOs in bulk from them.

Cutting out the middle man.

Is anyone doing this?

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Replies

  • An appraisal's fair market value is based on the comparative sales that the Appraiser selected for their report. The Bank wants to be sure ALL of the recent sales in the neighborhood were used in the evaluation and confirm that only the very LOWEST were chosen. It's their way of confirming today's actual market value of that property.

    • Appraisals are not the topic of this discussion. 

      • Thanks Cece, good looking it.

        Sam and Mark let's stick to the specific topic of this discussion thread.

  • You can opt to do work for free see if these guys even remember you. Like appraisals they are required to go to a third party.

  • If you  got bulk orders, the loans would be on properties across the country. You would have to find agents to do them and you will have to pay them. You are now the BPO company. 

    • Do you know an agent who is doing this?

      • Not now. I knew one a few years back who was located in Kentucky but she stopped doing it.  

        • 1) Do you know why she stopped?

          2) I think it might be possible to only get bulk in ones own state.

          Thanks

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