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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Yanoska Diaz > Sam ShuehNovember 29, 2011 at 4:08am
Actually QC's only real problem is value variance. I don't know in other states, but here in FL when we complete a BPO for CoreLogic it has 4 if not more prior reports on file. If your value is not within 10% of the prior order it does not matter how much of a professional explanation you give them, the order will stay in your queue for days if not weeks.
One of those huge battles with Core Logic (regarding value variance) got me into REO World. REO Interior BPO, prior agent valued the subject for $75,000, my value? $125,000. The order kicked back from the client (Chase) a dozen times. I demanded to see what comps where used by the prior agent and I was finally able to give them the reason for the variance. Chase liked my comments so much they asked REO World to give me a call a reassigned this listing to me. The property indeed sold for $125,000.
Yes my fellow agents, it does happens once in a while, you will get a listing and start a great business relationship through a BPO. Stand by your values if you know your market area, don't just take the easy way out.
Thank you Core Logic!!!
I am also waiting to be approved by Core Logic REO, they are flodded with Bank of America listings!!!
Yanoska Diaz > David CollinsNovember 23, 2011 at 9:38am
I have remained Platinum since they implemented the scoring. I have not lowered my fees, they are low enough as they are.
I spent 2 months without receiving a single order while another agent in our office which has not lowered his fees either was receiving orders everyday during that time.
I called Core Logic and they explained that the reason the other agent was receiving orders was simply because he was closer to the subject property. I explained to the "specialist" which of course was very difficult to understand as we all know, that the other agent and myself were in the same location; to what he replied, the other agent has been working longer with Core Logic; to what I replied, no! I have been working with Core Logic longer; to what he replied, the other agent has a higher score; to what I replied, no! actually I have a higher score....and the discussion went on and on and on....
This is a true story....you go figure...LOL
Eric Quillinan > Yanoska DiazNovember 23, 2011 at 8:06am
You may want to look at the Order Bid Program link on Corelogic and try decreasing by a few dimes the fee. I have an agent in my office and she is experimenting with it and seems to increased her workload. If you notice the actual scoring is on a sliding scale so one month you can be gold and the next month the same score is a platinum. I don't cut my fees and I vary between pot metal and aluminum status....
Sam Shueh > Patrick H. PageNovember 20, 2011 at 12:01pm
FARVV-You can lower your compensation and see if you get more orders. Hard to generalize as each neighborhood is different. If your score card is borderline you need to be more on the ball.
I got a blast for an inspection that pays $10, not sure it was Mainstreet or what.
I said who the hell will take it. Within 10 mins some hungary agent grabed it-rural area.
I lowered my price last week by $5 per order. I am in their gold level so quality isn't the issue. They insist that the new bid pricing has nothing to do with it but in the DC area doing orders at $40 to $45 is not very profitable given the price of gas and time it takes to travel from one area to the other.
The lowest fee I have seen is $20 for a drive by with no comp or valuation data.
I looked at these sites and noticed that FASInc charges you an annual fee. I am always suspicious about these companies that charge a fee. having been ripped off a few times.
What are your thoughts and experience with this?
CECILIA D FOX > Suzanne HoffleitNovember 18, 2011 at 7:24am
FAS is ok. $45 BPOs. They don't pay directly to you though. They pay your broker because according to California law, since they are a real estate brokerage, they won't pay any entity except a brokerage.
Latest in dead beat's is IAS aka Integrated Asset Services. They send emails and make phone calls but have not been paid in 3 months. Evalonline is not at 90+ days too. If this keeps up let's get an attorney and draw up a class action suit and that will get their attention!
Added to your good guys list, Corelogic, Clear Capital, and Service Link. All pay in 30 days or less.
Replies
Actually QC's only real problem is value variance. I don't know in other states, but here in FL when we complete a BPO for CoreLogic it has 4 if not more prior reports on file. If your value is not within 10% of the prior order it does not matter how much of a professional explanation you give them, the order will stay in your queue for days if not weeks.
One of those huge battles with Core Logic (regarding value variance) got me into REO World. REO Interior BPO, prior agent valued the subject for $75,000, my value? $125,000. The order kicked back from the client (Chase) a dozen times. I demanded to see what comps where used by the prior agent and I was finally able to give them the reason for the variance. Chase liked my comments so much they asked REO World to give me a call a reassigned this listing to me. The property indeed sold for $125,000.
Yes my fellow agents, it does happens once in a while, you will get a listing and start a great business relationship through a BPO. Stand by your values if you know your market area, don't just take the easy way out.
Thank you Core Logic!!!
I am also waiting to be approved by Core Logic REO, they are flodded with Bank of America listings!!!
I have remained Platinum since they implemented the scoring. I have not lowered my fees, they are low enough as they are.
I spent 2 months without receiving a single order while another agent in our office which has not lowered his fees either was receiving orders everyday during that time.
I called Core Logic and they explained that the reason the other agent was receiving orders was simply because he was closer to the subject property. I explained to the "specialist" which of course was very difficult to understand as we all know, that the other agent and myself were in the same location; to what he replied, the other agent has been working longer with Core Logic; to what I replied, no! I have been working with Core Logic longer; to what he replied, the other agent has a higher score; to what I replied, no! actually I have a higher score....and the discussion went on and on and on....
This is a true story....you go figure...LOL
You may want to look at the Order Bid Program link on Corelogic and try decreasing by a few dimes the fee. I have an agent in my office and she is experimenting with it and seems to increased her workload. If you notice the actual scoring is on a sliding scale so one month you can be gold and the next month the same score is a platinum. I don't cut my fees and I vary between pot metal and aluminum status....
FARVV-You can lower your compensation and see if you get more orders. Hard to generalize as each neighborhood is different. If your score card is borderline you need to be more on the ball.
I got a blast for an inspection that pays $10, not sure it was Mainstreet or what.
I said who the hell will take it. Within 10 mins some hungary agent grabed it-rural area.
I lowered my price last week by $5 per order. I am in their gold level so quality isn't the issue. They insist that the new bid pricing has nothing to do with it but in the DC area doing orders at $40 to $45 is not very profitable given the price of gas and time it takes to travel from one area to the other.
The lowest fee I have seen is $20 for a drive by with no comp or valuation data.
I looked at these sites and noticed that FASInc charges you an annual fee. I am always suspicious about these companies that charge a fee. having been ripped off a few times.
What are your thoughts and experience with this?
FAS is ok. $45 BPOs. They don't pay directly to you though. They pay your broker because according to California law, since they are a real estate brokerage, they won't pay any entity except a brokerage.
Broker price opinion just sent me a $35.00 order and I just got an email to sign up as a preferred vendor for $250. I think not.
Tonia, how long it took you to receive your pay from Broker Price Opinion? They told me 90 days after the order you completed. is it right?
Latest in dead beat's is IAS aka Integrated Asset Services. They send emails and make phone calls but have not been paid in 3 months. Evalonline is not at 90+ days too. If this keeps up let's get an attorney and draw up a class action suit and that will get their attention!
Added to your good guys list, Corelogic, Clear Capital, and Service Link. All pay in 30 days or less.
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