New to BPOs. Any recommendations?

Hi all, 

   I'm new to BPOs and would like to do them to supplement my income, as I do real estate full time and most of my efforts are focused on working with buyers and sellers. Though I would like to make a dent in it and also get to know the world of REOs. Any recommendations for BPO companies to register with that you've had good experience with? I'm looking for someone reliable and who will actually pay, preferably in a timely manner. I live in Louisiana if that helps. 

    So far I've registered with Residential Real Estate Review, which all they need is a copy of my real estate license but I'm waiting on that because I just switched brokerages last month and my broker hasn't received it yet. I'm in the process of applying with PCV Murcor, Clear Capital, and 

 

   Any other recommendations? In in Louisiana if that helps. Thanks in advance.

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      • Blair,

        Yeah we provide outsourcing and automation for a select number of companies.

  • Hi Blair, BPO's with the good companies have gone by the way side at least in my area of Fl. The fees were dropped so badly due to newer agents wanting to get in and agreeing to do them for a reduced fee. 1 response you received from a fellow agent said emortgagelogic was good, based on my experience in 11 years of doing Real Estate, would NOT be 1 I would work for AGAIN!  They owed me over $2000. in fees when the market was good and I cannot sue for that, only my Broker could and he opted not to.  Be Careful, Do Not Pay fees to do BPO's or REO's you will be broke in no time. Sorry to be a "downer" but lessons are learned the hard way, which I did, I now focus on 1 or 2 companies that pay well and focus on my business at hand ! Real Estate :)  Good Luck, if I can help in any way, please let me know.....

    • Good advice Linda, I agree! The fall of BPO is on the larger Real Estate companies opening up these BPO Mills and hiring software geeks to capture the market. That is the down fall of BPO's. Greed!!!! When the banks system get hacked by one of those geeks, they will turn it around, or go back to hiring appraisers.

    • Thank you Linda. I signed up for RRReview, Clear Capital, and HomePath so far. My broker has previously done work for HomePath not all that long ago and always got paid and quickly. That's not to say I'll have the same kind of good luck like he did, but I'm gonna focus on those for now and see what happens. I will definitely reach out to you if I need it!

    • Smart lady, that is exactly what I did, only got burned for a few hundred dollars less than 500

    • I know that if you don't fill out the paperwork properly online, you will not get paid. But, I cannot speak to why that happened to you. I have been doing orders for them for years and they pay me every two weeks like clockwork deposited directly into my account. I made $30,000 on my 1099 from them one year. But, Blair, as I mention in my program, I always tell people to do a couple for the client and see if you get paid. If you do, then keep doing them, and if you don't, try to get your money back and don't do anymore. That's what I do and it works for me. You just accept something really close to your house for the first order.
  • Thanks Marce. I'm more or less wanting to do BPOs to make some extra cash in my downtime. Though I see what you mean about how sometimes it just isn't worth it for the pay plus the amount of required to do them. I'd still like to try though. 

    • you are better off getting a part time job or increase your real estate business

  • My BPOs pay as low as $40 and as high as $125. I still do REOs and retail sales too though. My BPO business generates $1500 to $2000/mo on average. I have made as high as $6000 in one month because I do high volume. I only did that many to pay for a cruise though. I kind of use my BPOs as a fall back when I need extra cash. But they are consistent. I have a free webinar recorded on YouTube if you want more tips:

    https://m.youtube.com/watch?v=RgNm_z132Xg
    YouTube
    • Thanks Jonathan. I'm just mainly interested to make some extra cash in my downtime, so I really wouldn't mind if some pay as low as $40 since it's better than nothing, though it depends on how much work they're asking. Thanks for the link, I'll have to check it out!

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