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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They have been paying only $30 exterior BPOs and $45 interior for first come first get here in Southern Ca. A lot of times I get up to 8 notices every 30 minutes after, looks like not many agents are picking up the order. This amount is not a professional fee, time can be best spent prospecting for listing or buyers. ORDMS is also not sending listing either when you do BPOs.
Old Republic core business is title insurance. You do not feel also doing business with their title company when their BPO mill business do not treat agents as professionals. Old Republic is still Old Republic as a business, title or BPO mill, whatever you call it.
Their Fannie Mae orders are $30. Other start about $45 here in AL. Normally if I message them for a different fee they will do it if they cannot find anyone for the $30/$45.
Old Republic is out of their collective mind. $30 for BPO, they keep on sending requests for same addresses over and over and calling trying to assign them. They just don't get the message - I refuse to work for free and I will not subsidize Old Republic with my work. I told them multiple times the fee is $50 for 48 hours turnaround time within 5 miles, and $75 for anything further or shorter time. They call and sound very surprised when I tell them no way I will accept anything below my fee. I hope their clients are reading these blogs and start to get a grip that they should stop working with Old Republic. No good agent will complete BPOs for $30, so anyone accepting them is the beginner who cannot find a better rate or has no experience......... well I cannot think of why you would accept them. So clients of Old Republic – request BPOs from reputable companies that pay their agents and care about quality. What a shame, they used to be so good 8-9 years ago, used to be my favorite BPO/REO company.
They are trying to do it in Tn. too. If you don't accept the bpo they will beg you to do it for any fee you may want to.charge.
Whomever accepts these absurd $30 orders should be ashamed. they are only hurting themselves. (and me)
Lovingly,
Tara Nagelhout....Principal Broker
Emerald Valley Real Estate. Serving the Eugene & Springfield area, Lane County Oregon.
So has anybody received any listing assignments after doing the cheap BPOs? Say since 2008 and beyond?
Old Rep Default valuation is NOT the same dept as Old Rep REO. They other dept has very limited inventory but tends to sell directly to other banks not to retail them. In SF Bay area(where I reside) I am only aware of a few retailed homes since the sub-prime mortgage crises. It is just a bpo mill.
Old Rep in general pays every employee lower. We can complain it will not help.
Hi Cece, not been here in a while, had time to pop in today. I noticed the SAME thing the Tampa Bay Market some week back, $30 driveby and $45 interior! Someone is doing them. From time to them they send out a notice to call in with a $$ proposal on some, but rare is that. At those prices it is not worth the time.
I agree Vivian
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