Hi i just got this email from that company KONDAUR they like me to do 3 CMAS For free but i dont understand how to proceed and where is their data base?PLEASE ADVISE

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  • I have completed 10 bpos and no listing. 
  • Great company.
  • Hi Meir,


    There are several blogs about kondaur on this site that will help you understand how they operate, take the time to go through the archives.


    I have been working with them for over three years now and they are good to work with and up until this summer my average was for every two CMA's I did I got one listing.


    In October they they  were working on multiple pools and I had 15 different asset managers call me for CMA's all started with the introduction that I was a prefered broker in their system and asset mgr's had recommended me, I did......I think 17 over a two week period all for free as always. So far out of the 17; four are assigned to me so far and if they win more in their pools I will get more. Even if I don't the four properties add over $1 million to my inventory.


    These are unlike other REO's in the fact that there are no out of pocket expenses or referal fees that I have with all my other asset companies, they pay a standard 6% or if I get both sides 4 1/2%.


    So if I take just this scenario and just get the listing side, $1 mil x 3% = $30k. Thats $1764 per BPO. Corelogic at $45 per BPO is $765 for 17 with no chance of getting the listing.


    The 2nd opinion BPO's that they get are not always from other competing agents, they use Clear Capital to get a second opinion and they pay for it. 


    I think their business model is good and there are no registration fees.


    I do feel bad for the folks that have done CMA's and not got any listings yet

    • Thanks for all the details .
  • Just a thought, but in the cases where they require two or maybe more BPOs, do you suppose they tell everyone that does one they may be able to get the listing?  I did many of the free ones for a company a year or so ago with that carrot dangling at the end of the stick and never got a listing.  I quit doing them when they started sending out the listing/addresses with an email something to the effect to confirm it would be done on time.  They sorta bypassed my accepting the order. 
  • I did get called by Kondaur to list a home and it sold quickly.  Six months later I received three calls in a row.  You are at the top of the list and we need 3 CMAs done.  They sent an e-mail stating that if they decide to list you would get the listing.  I completed before due date, and asked if they received everything.  One responded back yes thank you.  Guess what no listings.  Next time I am asking a lot of questions.  I am not working for free just to possibly receive a listing.
  • Just closed a Kondaur last week. Nice group of people, and they cover all utilities and lawn/snow care.

    BTW, I did only 1 BPO for them in the past and not the listing. Since I have listed this I have been asked to do 3 other CMAs pro bono, and have been happy to do it. Maybe it depends on the amount of agents in the area.

    I was also told they prefer to work with the Boker Owner of the office, (I am) if that helps, I was also required to add them to my general liability policy in addition to E&O

  • I ve done over 30...... no listings yet...... I dont think I'll do too many more.... they advised me that they have realtors that have done over 100 w/ no listings......... uh----- nope, I wont be one of them....... its a pot-shot.....but I dont believe they wont pay once you do get a listing........just make sure everything is legal.... they get "dis-oriented" sometimes....... lol, just a note.....
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