Forum

Since I’m new to BPO’s I have a few questions....

Posted by William J. May on September 22, 2014 at 9:16am in Sample Title

1) how do I find out a homes Style?
2) What is the best way to describe The subject property? Best way to describe subject neighborhood?
3) And where do you get the stats or statistics of the neighborhood?
4) Should we use absorption rates? Is so can you give me an example on how you would write it out.       5) what are the BPO Companies that pay $50.00 & up for exterior BPO's.

I am in Los Angeles 

Thank you everyone!!!

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Tags: 2014, bpo, bpo's, companies, exterior
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Replies

      • Marvin Von Renchler > barbara scarbrough October 10, 2014 at 6:31am

        I TOTALLY disagree with a large franchise being the asnwer. Been at this 34 years and have been in and known many others who were/are in them. Not putting them down---just saying they aint the 'end all' of learning/training.

  • Monica Dehnert October 6, 2014 at 9:06am

    William, you are doing the right thing by asking questions.  Listen to the positive and helpful answers and disregard the negative ones.  

    • William J. May > Monica Dehnert October 6, 2014 at 12:02pm

      :^) Thank you Monica!!!! I will do just that!!

  • Randy Fontenot October 6, 2014 at 8:54am

    Hi William, I'm a bit behind on this post but maybe I can help. Check out bpo-companies.com, this site is owned by BPO Automation Group and is open to all, not just our clients. Our clients however have rated many BPO companies from 1 - 5 stars. When looking for a BPO mill you may as well start with the best paying. On this site you will see how our clients rate the different companies. I hope this helps.

    BPO Automation Group offers it's clients free access to BPO University, our founder created this site to help all of our clients. Not only to help them automate there forms in 5 Minutes but to teach them how to do BPO either by hand or by using automation.

    If you have any other questions feel free to reach me at randy@bpo-automation.com

    • Marvin Von Renchler > Randy Fontenot October 10, 2014 at 6:27am

      Well you are certainly at the heart of controversy, Randy. Auto capturing BPOs is NO ALLOWED by many BPO companies, which state that they will cut you off if they find you using it.

       

       

    • William J. May > Randy Fontenot October 6, 2014 at 12:02pm

      Thank's Randy I'll check it out.

  • Sally October 6, 2014 at 8:54am

    William

    • Here is the basic guidelines at http://www.nabpop.org/BPOSG-V5.pdf
    • One important thing to remember is if a property does not have top schools associated with it, avoid using comps that have top schools with a higher value.  You can put at least one school district in your criteria for the subject property to get the correct comps, if there are homes with top school(s) in the area. 
    • If you go over the BPO requirements like over 1 mile, 15% of GLA and 3 to 6 months on the Sold Comps, you need to give an explanation on the reason (Read the BPO company's requirements ).
    • These BPO companies may have 2 other agents doing the BPOs on the same property.  2 for exterior and one interior. 
    • If Quality Control (QC) is challenging your BPO with another agent's BPO, do the research on what they did. Usually, you would have a good answer like the sold comps are too old, subject property is a one story home when the comps are 2 story, the property is not associated with top school to give the subject property a higher value.  ....  This does happen with REO agents who is not familiar with the area.  The Realtor had handled tons of REO properties in my county and several other counties.  I have no idea who did her BPO for the Asset Manager, but the buyers paid over $500,000 for this REO property.  Their downpayment was 1/3 of the offer price (closed over $3 million).  They were the only buyer with DOM over 100 days.  The couple did not know better about the price.  Have no idea what their agent did with CMA.  All the couple saw was a beautiful house which turned out to be a lemon (hidden problems).  They have defaulted with limited funds on repairs.  That excess amount of $500,000 might of saved them from defaulting their mortgage and completed their repair projects.  So be careful with top schools in the area.
    • Hopefully you know about repair cost in your area.  If not, go checkout appliances at the store, read termite repair cost, research on the web for pricing and speak to a contractor buddy who can help with the estimate.  Take a class from Home Depot with Q&A.  ...  It will be educational as well as getting free stuff.
    http://www.nabpop.org/BPOSG-V5.pdf
  • R. Ann Ellis-Hall October 6, 2014 at 8:06am

    This morning CRMLS just had a class on statistics --  you may want to call them and register for their next class. 

    How did you manage to sell other properties without knowing the homes style and type?  BPOs have to be accurate, if not, they will be rejected!!  Some BPO companies 'grade' you on quality.  You may want to google BPO training.  I know that Harris University offers BPO training.

    Good Luck, William!!

    • William J. May > R. Ann Ellis-Hall October 6, 2014 at 8:10am

      Yes, I'm in the Harris University BPO training. Alot of info

      • R. Ann Ellis-Hall > William J. May October 6, 2014 at 2:34pm

        William, I wish I had time to train you, you are going to do quite well!!  And, when you have issues on your BPOs, some companies have quality control staff to assist.  I like your attitude!!  You may want to start registering at some of these companies as they are listed here on REOPro!!

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