This month, Old Republic has been sending me all of their BPO orders for $30. Their standard has generally been $40 up until now in the Akron Ohio area. What is happening elsewhere?
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Yes, my coverage area is approx. 4,000 sq miles and covers 4 different counties population is less than 85,000.
You may be making minimum wage if you are fast enough and have free car expense and gasoline. God luck. Gene Ford.
that's terrible. over the week end-I got offers to do them for $35
I respond that I will do them for $100
is Old Republic a good co. to work for? & do they pay?
Yes, they pay and pretty quickly....I have worked for them for years, their forms are pretty easy, BUT negotiate, negotiate, negotiate.....they will come up....I don't work for less the 65 on exteriors, and that's if it's close and convenient for me....we are pretty rural here, so 75-80 for an exterior can be negotiated...show them you're dependable, let them know when you get the pics and get those orders in on time.....goes a long way on getting the higher amounts approved...
Hey,
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$30 exterior and $45 interior and about 2days turn around is not a fee for a professional. These BPO mills are paid $100-$125 by their clients. Better use your time prospecting for listings or buyers. Sad that ORT is also putting is name negatively on its title and home warranty business by not treating agents decently in the BPO business. ORDMS BPO does not assign REO so you feel you got stuck only with the BPOs.
They always start at $30.00. They will pay more. I have received as much as $125 to $150 from them for properties that are far and hard for them to find agents. I have always been able to get between $50 and $75 if they call me. If agents would just stop doing their $30 and $40 orders, they would have to increase the fees. I always negotiate more with them or I refuse the orders. So you agents out there doing these orders cheap are hurting us all.
Get with it and start demanding a fee that is more reasonable. I base my negotiating fee on how far the property is but never do one for less than $50 even if it is a block from me.
No, not always. And no, not recently. They sound extremely surprised when I refuse to accept these BPOs and lately they have not increased the fee even when requested. I will not complete them for $30 or $40, but obviously there are enough starving agents here who will work for next to nothing. Just today, Friday night, they were emailing the same order for 8 rounds, and on round 8 someone picked up a $30 drive by due in 32 hours on Sunday morning in bad neighborhood. The agents who do this is what driving the whole industry into the abyss.
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