I've been completing BPO's and teaching a class on how to complete BPO's and CMA's for more years than I care to reveal and have never had a late assignment for any vendor. I received an invitation to join, Stewart Valuation Services, LLC. Then, I was asked to complete a lengthy application and provide copies of my RE license, E&O Insurance W9, Etcetera, I complied. Then I was asked to complete a background check. They would not accept previously completed background checks. I complied and paid $44.00 for another background check. Then, I was asked to provide (3) BPO company references along with their phone number and contact information. They actually contacted each of my references. Now they want three copies of BPO's completed in the past 3-6 months. This is where the shit hit the fan. I responded with: I complete BPO's for numerous clients; this information is private and should not be disclosed to the Subject and/or any third party. You should know this; yet you're asking me to violate my fiduciary responsibility to my clients, by providing you a copy of their completed reports. Please read your own confidentiality statement regarding BPO's. If you are so skeptical about the quality of my work; give me a BPO to complete? This would answer all your questions regarding my experience. How about looking me up on the National Association of BPO Professionals (NABPOP); I've been certified on their list for years. Is anyone familiar with Stewart Valuation Services, LLC; I'm familiar with Stewart Title, but, never heard of Stewart Valuation Services? Has anyone ever completed BPO's for this company? Do they pay? and How much do they pay? I can't seem to get any information form them until after their screening process. I've literally told them to take a hike. Please comment? Does anyone have a relationship with this company?
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I also was doing them for $17 as I am out in the field a lot and many are on my way. After thinking about it, I stopped doing them and am much happier. I still do them for First American.
Who do you do drive by inspections for that pay $30? I know Trinity does but is there another out there?
WHO does drive bys for 30.00 my min is 75.00 and up to 250.00 depending on where they are
These are not BPOs They are little short forms less than half a page asking questions about the condition and require 3 photos. They take less than 5 minutes to fill out. But Stewart only pays $17
But some of the BPO companies have dropped there fees for drive by BPOs to $35 ( namely Main Street for Green River Capital orders) so there must be agents out there willing to do them for that amount or they would have to increase their fee back up to what it was before. If agents would simply refuse to do the BPOs for such low amounts the fees would have to go back up.
BPO fulfillment sent me an email saying that my E and O insurance was expired so they inactivated me. I updated my E and O but never heard back. I never did get paid by Green River Capital or Carrington once they went to that platform. Only Main street.
Seems to be the trend. I've dropped a few clients due to low fees. One would send orders (drive by) out at $50 but if no one took them they'd go up to $65. If still no takers they'd go to $80. I'd usually accept at $65 if they were close or there were several orders, sometimes I'd hold out for $80. A couple times they even called offering $100 or more if no one accepted.
Around the first of the year everything was gone immediately at $50. Then they lowered it to $40. I won't do them for the fee but sometimes I log in just to see if anyone has accepted. They are always gone faster than I can log in. I'm down to 2 regular clients and 3 or 4 that send the occasional order but one regular pays $50 with easy forms and always very short distance and the other pays $70-100 depending on distance and form.
As long as agents are willing to work cheap they'll just keep pushing fees down. The other guys (and gals) can have the $30 orders.
Old Republic has been paying $30 for at least 3 years $45 for INT
All the companies under BPO Fulfillment - originally Mainstreet Valuation but recently purchased by Clayton Holdings - parent to GreenRiver Capital have dropped fees to $35 - if you call them they will tell you the "regular fee" is $45 but all orders come out at $35. If you try and get the "regular fee" they will tell you your rating is too low or that the fee has to be out there for at least 24 hours
Beware because GRC requires full rental comps as well AND they provide the lockbox code - swear the property is unoccupied and no LA to verify the code but if you go and there is no lockbox, the property is sold (DUH!!) or the code does not work they will NOT provide a trip fee.
They have just added a new client BLM REO who is doing EXT with INT Inspection - Bring your own KEY - at your cost if you do not have one. The HUD key is specific. You cannot do the EXT w/o doing the interior.
We have HUD keys but not the specific one which will cost $13 ($20 inspection + $40 EXT) and they will NOT reimburse the cost and give all kinds of grief and threaten how your rating will be lowered etc.
Consolidated Greg Fernandez (formerly from Old Republic now BPO VM) is trying hard to go by and force realtors to accept $35 what BPO Fulfillment and OR are doing saying $35 is the "national avg" and really has no clue about what other companies are paying. The also lost a lot of business when Solutionstar went out on their own although they still do some SolStar assignments
yes, First American
Sally,
Would you mind sharing the sign up page for First American or some kind of contact information? I have tried to find it but without success so far. I am in Katy, TX. Hopefully I am not in direct competition with you.
I have been doing BPOs full time for 11 years, but they are slow across most companies ever since 2016 at least. So I am looking for decent paying inspection companies.
Rhonda Reedy
reedybpo@gmail.com
I'm not familiar with Stewart, but the request for samples really isn't all that uncommon. As an appraiser, I send would-be clients samples all the time. With all the redactions, I can hardly see the benefit to the client, but they get 'em.
I block out the address, client, owner name, etc. Most BPO/Appraisal companies care more about the grid page (can you do an adjustment? does it make sense? is it uniform?) than they do the confidential data.
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