Put up a sign and take one photo?

I got an email from Consolidated Analytics today regarding a new service they are offering a client. It would require a "BPO agent" to go out to the property, place a sign/rider in the front yard, place a sign in the front window and two open house signs in the property, take a photo of the exterior to prove you went, and then send it to CA. They call the service marketing recognition.

The email asked agents to reply if they are interested. Does anyone have any idea what this might be all about? If it is a typical REO property, why not have the REO agent do these steps when the listing is assigned? Could this be some sort of listing without a local agent? Maybe there is a simple explanation and I am just being a bit slow on the uptake?

Yes, I believe we agents are being abused! First hand, when joining these sites like Res.net, the third party vendor asset manager for the banks take their time getting BPO's approved from the initial listing. What they do is assign you the listing with the expiration date that is generally 3 months but it takes them approximately 3-4 weeks to actually approval for listing in the MLS instead of waiting till all the pre-marketing has been completed. Now you only have 1 month to find a buyer and 1 month to close...Really? Also, they always seem to assign listings to you when they know your membership is about to expire. Its a CATCH22 because the asset manager can not extend the listing on a expired membership. This is a TRICK to make you renew your membership to keep on with the listing to close escrow. If you don't extend they lock you out of the system steal your client and continue to close never paying you a penny for all your hard work NOT EVEN A THANK YOU!! My suggestion, unless you have the extra funds to continue and its a really nice listing to make a good commission then do it. BUT, IF ITS A CRAPPY LISTING, then don't go out of your way to keep up with everything,submitting reports on time,visiting the property etc..etc..ITS COSTING YOU MONEY and just do the very minimum and at the end when they tell you to renew, TELL THEM THEY CAN HAVE IT BACK! The trick is for you to take advantage of them for a while to get you some exposure. Anyway, I was just thumbing on Auction.com and they have almost 300 assets in auction this month alone. That's a HUGE EVENT for one month? Either most of these have already run their courses in listing with agents or the banks are now starting to skip listing with agents and going direct to auction which will save them a lot of time and money to get it over with and off their books in a couple of days instead of 6 months.

Replies

DOUGLAS SWANSON May 9, 2014 at 3:29am

The pay is only $15.00 in my area. I have done this a few times when I knew I was in that area for something else, I call it gas money. I will not make a special trip for that fee.
CECILIA D FOX May 8, 2014 at 6:11pm

Of course it's a listing without an agent. Who puts up the signs for Hubzu, Auction.com, and who knows who else. The only thing CA left out was how much they are going to pay. They really don't need a licensed real estate agent to do something like this.

http://Auction.com/
- Antionette > CECILIA D FOX May 9, 2014 at 4:26am
  
  Yes, I believe we agents are being abused! First hand, when joining these sites like Res.net, the third party vendor asset manager for the banks take their time getting BPO's approved from the initial listing. What they do is assign you the listing with the expiration date that is generally 3 months but it takes them approximately 3-4 weeks to actually approval for listing in the MLS instead of waiting till all the pre-marketing has been completed. Now you only have 1 month to find a buyer and 1 month to close...Really? Also, they always seem to assign listings to you when they know your membership is about to expire. Its a CATCH22 because the asset manager can not extend the listing on a expired membership. This is a TRICK to make you renew your membership to keep on with the listing to close escrow. If you don't extend they lock you out of the system steal your client and continue to close never paying you a penny for all your hard work NOT EVEN A THANK YOU!! My suggestion, unless you have the extra funds to continue and its a really nice listing to make a good commission then do it. BUT, IF ITS A CRAPPY LISTING, then don't go out of your way to keep up with everything,submitting reports on time,visiting the property etc..etc..ITS COSTING YOU MONEY and just do the very minimum and at the end when they tell you to renew, TELL THEM THEY CAN HAVE IT BACK! The trick is for you to take advantage of them for a while to get you some exposure. Anyway, I was just thumbing on Auction.com and they have almost 300 assets in auction this month alone. That's a HUGE EVENT for one month? Either most of these have already run their courses in listing with agents or the banks are now starting to skip listing with agents and going direct to auction which will save them a lot of time and money to get it over with and off their books in a couple of days instead of 6 months.

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