Has anyone had any experience with this company? I have provided about 10-15 free BPO's for USRES and have not received any REO's. They claim they will provide REO business if you do their BPO's. Many of the BPO's I am doing are properties that are in foreclosure and vacant. Eventually they will be foreclosed upon. Am I just being inpatient or will my work eventually pay-off. My name is on every BPO. Also, I am signed up with other BPO companies like clearcapital who only gives you 5 minutes to respond before they send the order to someone else. I have a couple of companies like this and it is very frustrating. I got an iphone for this purpose.
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I did hundreds of BPO's usres and only got 1 listing. I kept being promised more listings but they never came. Another REO agent in my area told me they had the same issue. I can't do hundreds of free bpo's and then get a $100K listing. With the 2.5% comission, the $2500 I made on the listing was not even close to the money I could have made doing bpo's. I think all agent should boycot usres.
Rebecca Neill > Amber FlemingFebruary 1, 2010 at 7:00am
They don't tell you but most of their BPO's are not for listings. They are for refinances. They get paid $100.00 for every BPO you do. I know this because I asked them and they told me.
I did about 40 BPO and received 2 listings December of last year. They still send me BPO but not as much as before and zero listings.
I will like to find another companies like RESNET to do the free BPO with the posibily of getting the listings.
Can any body help me?
Thank you,
Claudio leiter
Rebecca Neill > Claudio LeiterDecember 16, 2009 at 8:15am
I do paid bpo's for companies. I do so many that doing free ones are an annoyance. I get REO listing assignments from doing those. I make more than $1000 per month. I could make more but I just do them in my spare time. If you can do them and get paid for it you should it is the best way to get your name out there in the REO market. I consider it farming. Just sign up on every website that needs BPO's done If they require you to pay a fee check to see if they have properties in your area before you pay for them, some only have properties in certain areas. I have been an REO broker for 8 years now.
I have just completed my 7th BPO for USRES. All 7 have been turned in well before the cut-off date. I believe my grade with them is very high and feel I should start seeing REO work from them. Is there a certain amount of BPOs that USRES requires you to do before assigning REO work? Seeing from this board, looks like 50 - 60 free BPOs before getting a listing. Is that the average?
Claudio Leiter > Anthony Cruz Jr.December 30, 2009 at 10:35am
I received my first and second listing after the 20th BPO. Bpo did not stop coming but the listings stop coming.
They give you the first listing to keep you happy but remember they have to keep a lot of people happy too.
Their business is to get the BPO free and they will turn around and charge the Lender.
I just had a discussion with the company that told me I would get listings for doing free BPO's. It was this Company. The contact to get the interior access told me that the BPO was for a reverse mortgage. First of all it is not legal in Colorado for me to provide valuations for loan purposes, I can for default services and for marketing purposes. I am putting my license on the line by working for them. Second I wish they were telling all of you the truth that most of the BPO's are for refinancing or other purposes and not default. He said "If we happen to get a listing because of default it could be assigned to you." He also said "I get a fee for this BPO." Which means that you are doing a paid BPO you are just not getting paid for it they are. Just make sure it is legal in your State to take business away from appraisers.
Since Sept of 08, I had done 59 BPOs for USRES for free. They will pay you also if you request it, but it won't entitle you to receive REOs if you do. Well, I was given 5 REO listings within 6 months. They stopped requesting BPOs from my first REO assignment. The last one just closed within 2 months, now they request more BPOs so I suspect listings to be coming again. I have made friendly conversations with many over there at USRES, they all told me the average is for every 15 or so BPOs, they try to assign an REO. I also contacted the Supervisor for the Listing Dept, who flagged my account for doing so many BPOs with no listings at the time. She couldnt have done more for me in my eyes, that's when the listings came to me.
The BPO requests come from a different dept. You wont get listings from the BPO Coordinators who send the requests to you.
To sign up with Res.Net prior is a plus, cause there are many other companies who use that same platform. I like USRES and my experience is positive, so I would say to those who feel 'no freebies' -> you might want to rethink it cause it works, and also with Res.Net you can advertise any of your listings you want, not like other platforms that just have to be REOs.
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Lisa Crawford > Michele DeVitoAugust 23, 2009 at 4:34am
Michele-
That is my feeling as well. I think the agents who are doing quality, accurate bpos seem to be averaging a listing about every 10-20 bpos, depending on your market. Sometimes it may take a little prodding, but from what I hear they are good about "dishing them out" to agents who are working hard. I have done several bpos for USRES and am signed up for RES.NET. I will wait (patiently) for a little while longer before contacting them to ask for a listing. How did you connect with the listing dept supervisor? Do you just call and ask for her?
Replies
I will like to find another companies like RESNET to do the free BPO with the posibily of getting the listings.
Can any body help me?
Thank you,
Claudio leiter
They give you the first listing to keep you happy but remember they have to keep a lot of people happy too.
Their business is to get the BPO free and they will turn around and charge the Lender.
The BPO requests come from a different dept. You wont get listings from the BPO Coordinators who send the requests to you.
To sign up with Res.Net prior is a plus, cause there are many other companies who use that same platform. I like USRES and my experience is positive, so I would say to those who feel 'no freebies' -> you might want to rethink it cause it works, and also with Res.Net you can advertise any of your listings you want, not like other platforms that just have to be REOs.
That is my feeling as well. I think the agents who are doing quality, accurate bpos seem to be averaging a listing about every 10-20 bpos, depending on your market. Sometimes it may take a little prodding, but from what I hear they are good about "dishing them out" to agents who are working hard. I have done several bpos for USRES and am signed up for RES.NET. I will wait (patiently) for a little while longer before contacting them to ask for a listing. How did you connect with the listing dept supervisor? Do you just call and ask for her?
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