Great advise by our In-house AM - Let's do this and see which companies pay the best and which ones don't - here's my list of good paysEMortgageLogicEqui-traxTitanium SolutionsFranklin CreditFASInc
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Sharon Letson > AntionetteJanuary 28, 2014 at 3:48pm
it almost sounded like some sort of foreign outsourcing or was I misunderstanding it? We're not supposed to let anyone access to our MLS, so not sure how they're getting by with it.
Randy Benoit > Sharon LetsonJanuary 24, 2014 at 4:25pm
If you notice by the language in the e-mail, this is from India. I received a similar e-mail from a group that claimed they had QC experience with some of the big name companies. They will do the complete BPO for 8.00. because in India, 8.00 = about 35.00. They are happy to work for about $5.00 an hour, so the deal you are getting is way on the high end. Oh, and by the way. Most of the BPO providers will terminate you if they find out that you did not personally inspect the property, personally take the photos and also enter the information. So if you decide to use something like this, you are risking your position with the BPO company.
Willy Olsen > Randy BenoitJanuary 27, 2014 at 7:12am
Plus if your AOR finds out you are allowing access to the MLS to unauthorized people you are asking for a boat load of trouble and fines. You could also possibly kiss your real estate career good bye. At least where I'm at in SoCal we are having to pay an additional $25 for MLS security.
We have people out there trying to accept orders for us, now we have people wanting to do the work for us. Just another way for them to get into our pocket. Personally if I can't do the work myself, I shouldn't be in the business. I have been at it for 34 yrs. now and have always did my own photos, reports and marketing and will continue to do so. I would be embarrased and ashamed to put my name on someone else's work, especially if it wasn't correct. I applaud everyone who does their own work and earns their pay. Anyone that says they can do 30 BPO"s in a day is either stretching the truth or has a lot of help.
Joan Willis > Lavina A. JacksonJanuary 28, 2014 at 11:29am
I agree with you, I too do my own work from start to finish. That is what we were required to agree to when we signed up. I know agents in my area who have a team of people and they do the photos, pull the comps & the data entry, And I hear the same thing about how they can get a bpo done in 30 minutes or that they do 30-50 per day. Even a few years ago where we used to have 3 days to do them, & I actually did not go to bed for 24 hours I could not do 30 in 1 day. So now I never believe any agent who says that they do 30 a day.
David Kesler > Sharon LetsonJanuary 24, 2014 at 11:30am
This is a lot of the reason why banks are paying so little and agent are accepting the lower fees. You give these companies access to your mls and they fill in the reports for you.
Bankers REO had called me, and I PAID. I realized I made a mistake, asked for $ back, threatened I would take them to the Better Business Bureau and so they cancelled the charge. I consider myself lucky and am very cautious now!
Every day more and more companies preying upon the struggling Realtor. Either BPO companies lowering their fees, if they pay at all; REO companies paying less and less per listing but increasing the weekly required work, carrying costs, etc. And, who are WE to question THEM? They're offering us an opportunity. If you don't want it, we'll move on and contact the next agent.
I had a serious run-in with BrokerPriceOpinion, last year. In the process of registering complaints with BBB and filing with the Attorney General, they proposed a one-time pay-off (about half of what they owed) or monthly installments. I agreed to the monthlies - at least, I thought, I would ultimately get my money...that's gone to a civil suit, now. But, my point? During this time, they left me several messages asking if I, or anyone in my office, would be interested in performing BPO's for them with possible listing assignments - like their right hand had no idea what their left was doing. Jeez.
I know many, like me, who've been in real estate for several decades, have stopped doing BPO's and REO's. Just not worth the hassles.
Joan Willis > Fulton GaylordJanuary 28, 2014 at 10:57am
I too got stiffed by them, I agreed t the lower fee because they told me that I would be paid every 60 days, well that never happened. All I ever was told was that the check was in the mail. Well when I requested to be paid what they owed me and told them that due to their non-performance I wanted the current balance and the amount I agreed to forfeit and got an email from Ms. Sandoval stating that the executives refused to pay me the amount that I agreed to forfeit but I would be paid the rest well I am still waiting.
Replies
it almost sounded like some sort of foreign outsourcing or was I misunderstanding it? We're not supposed to let anyone access to our MLS, so not sure how they're getting by with it.
If you notice by the language in the e-mail, this is from India. I received a similar e-mail from a group that claimed they had QC experience with some of the big name companies. They will do the complete BPO for 8.00. because in India, 8.00 = about 35.00. They are happy to work for about $5.00 an hour, so the deal you are getting is way on the high end. Oh, and by the way. Most of the BPO providers will terminate you if they find out that you did not personally inspect the property, personally take the photos and also enter the information. So if you decide to use something like this, you are risking your position with the BPO company.
Plus if your AOR finds out you are allowing access to the MLS to unauthorized people you are asking for a boat load of trouble and fines. You could also possibly kiss your real estate career good bye. At least where I'm at in SoCal we are having to pay an additional $25 for MLS security.
Right they should
We have people out there trying to accept orders for us, now we have people wanting to do the work for us. Just another way for them to get into our pocket. Personally if I can't do the work myself, I shouldn't be in the business. I have been at it for 34 yrs. now and have always did my own photos, reports and marketing and will continue to do so. I would be embarrased and ashamed to put my name on someone else's work, especially if it wasn't correct. I applaud everyone who does their own work and earns their pay. Anyone that says they can do 30 BPO"s in a day is either stretching the truth or has a lot of help.
I agree with you, I too do my own work from start to finish. That is what we were required to agree to when we signed up. I know agents in my area who have a team of people and they do the photos, pull the comps & the data entry, And I hear the same thing about how they can get a bpo done in 30 minutes or that they do 30-50 per day. Even a few years ago where we used to have 3 days to do them, & I actually did not go to bed for 24 hours I could not do 30 in 1 day. So now I never believe any agent who says that they do 30 a day.
This is a lot of the reason why banks are paying so little and agent are accepting the lower fees. You give these companies access to your mls and they fill in the reports for you.
Bankers REO had called me, and I PAID. I realized I made a mistake, asked for $ back, threatened I would take them to the Better Business Bureau and so they cancelled the charge. I consider myself lucky and am very cautious now!
Every day more and more companies preying upon the struggling Realtor. Either BPO companies lowering their fees, if they pay at all; REO companies paying less and less per listing but increasing the weekly required work, carrying costs, etc. And, who are WE to question THEM? They're offering us an opportunity. If you don't want it, we'll move on and contact the next agent.
I had a serious run-in with BrokerPriceOpinion, last year. In the process of registering complaints with BBB and filing with the Attorney General, they proposed a one-time pay-off (about half of what they owed) or monthly installments. I agreed to the monthlies - at least, I thought, I would ultimately get my money...that's gone to a civil suit, now. But, my point? During this time, they left me several messages asking if I, or anyone in my office, would be interested in performing BPO's for them with possible listing assignments - like their right hand had no idea what their left was doing. Jeez.
I know many, like me, who've been in real estate for several decades, have stopped doing BPO's and REO's. Just not worth the hassles.
I too got stiffed by them, I agreed t the lower fee because they told me that I would be paid every 60 days, well that never happened. All I ever was told was that the check was in the mail. Well when I requested to be paid what they owed me and told them that due to their non-performance I wanted the current balance and the amount I agreed to forfeit and got an email from Ms. Sandoval stating that the executives refused to pay me the amount that I agreed to forfeit but I would be paid the rest well I am still waiting.
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