The $30.00 BPO

Replies

- - Colleen > Vanessa Calhoun March 2, 2015 at 4:22am
    
    I don't see what the problem is with doing BPOs. I hear from real estate professionals that you should never focus on these as your main source of income but why not? Many agents focus solely on property management or buyers only, etc. This is a valuable tool and many appraisers feel that BPOs are nearly as difficult as appraisals. Not sure why so many agents are negative about BPOs. I get enough REO listings as well and to equate doing BPOs to being a burger flipper at a fast food restaurant is ridiculous. To each his own. I don't care to work in certain markets but I respect someone who does.
Patti Baker March 2, 2015 at 3:23am

You are RIGHT!!! for the life of me, I do not understand how someone can value their service at $30-$40 per BPO
Vanessa Calhoun February 27, 2015 at 12:18pm

I agree that the REO market has waned. I still receive REO listings. My point is that had I not started completing BPO's, I would not have broken into that market, nor would I have been able to build the relationships that I have made to be able to work with large institutional investors. BPO's were simply a segment of my business model and did not replace my normal real estate listings. To speak ill of BPO agents, especially the successful ones, doesn't sit well with me. We all have to make decisions regarding our businesses that we determine to be beneficial to our businesses. Unless someone has thoroughly reviewed someone else's entire business model, then their opinion of said business is moot.
Vanessa Calhoun February 27, 2015 at 11:03am

Okay....so you called BPO's "distractions", but then went on to promote other "distractions"??? I'm confused. Actually, I thank God for people who turn their noses downwards towards agents who complete BPO's. Had it not been for them, I wouldn't have broken into the REO industry when I did. In fact, I wouldn't be listing properties for large institutional hedge funds investment groups either. As for a Fry Specialist, I didn't realize that they were making six figures now...Go figure!
- Patti Baker > Vanessa Calhoun March 2, 2015 at 3:30am
  
  you are on a roll today, Vanessa. I would like to talk to you off line.
  - Vanessa Calhoun > Patti Baker March 2, 2015 at 3:32am
    
    Ha!!! I'm an opinionated Capriorn....I can't help it! Lol! I will inbox you my contact number.
- Ed Portillo > Vanessa Calhoun February 27, 2015 at 12:12pm
  
  WOW, I congratulate you for your accomplishments with REOs.
  
  However, that market is nearly gone and agents who want to stay in this business need to market, need to knock on doors, need to exploit the social media, need to generate creative ways in which they can cultivate leads and turn those leads into buyers or sellers.
  
  In the process of re-energizing and re-tooling themselves they need to have some consistent income which could be done at their own time, like at night for example, after they have done their due diligence with their marketing, showing homes, putting together presentation for potential listings, or video tapiing marketing schpills on YouTube to generate a prescense, or delivering presentations via Google-Hangout to special invitees or the public, or make an offer to agents with listings that they would like to hold open houses for them, etc.
  - Colleen > Ed Portillo March 14, 2015 at 8:27am
    
    Ed, that is not an accurate statement. That market is not gone at all, revamping maybe and slower due to the government holding off on REOS, but gone? I think not. Also, there are many ways to make money in real estate and there are arguments that each sector of real estate is down. Regardless I am pretty busy at the moment and it is definitely not all BPOs........ not even close. But BPOs provide income, many doors to be opened and also a good sense of how to value a property.
  - Patti Baker > Ed Portillo March 2, 2015 at 3:33am
    
    I notice lately that several BPO companies are using their own employees to do BPO's within a 100 mile radius of their facility, also more and more desk top valuations are being done in house---all cost cutting for the firm...
Ed Portillo February 27, 2015 at 10:50am

I believe BPOs are more of a distraction and derail you from accomplishing your goals and meeting your monthly numbers.

To survive as a Self Employed Business Owner - Real Estate Professional - you must have the highest level of confidence in yourself, believe in yourself and regardless of the situation, your level of motivation and drive should be so high that there is absolutely nothing that could possibly stop you from either finding clients who would love to List homes with you, or buyers who would love for you to represent them.

The question is if you are in Real Estate sales, why would you be trying to settle for less than what a McDonnalds French Fry Specialist makes.

Sometimes desperation is a good thing and sometimes desperation can be the worst thing that could psychologically drive you to do whatever.

If you need to make extra money on the side, perhaps you need to look at working from home. But I do not mean trying to sell scam Internet Marketing Programs to people and spam half of the world doing it. I mean by engaging with serious companies and provide a service as a 1099 contractor working from home.

For example: There are many executives and companies that seek event coordinators or schedulers like this one: http://beaconhillstaffing.com/AdvancedJobSearch/JobDetails/tabid/18...

You can also work from home and use your Real Estate Expertise with companies like NexRep, they offer work from home opportunities helping clients who answer to TV adverstisements: http://www.nexrep.com/opportunities.html

There are many other work from home companies like CalPine, and there is the Insurance companies who always seek Real Estate Agents to do a visual drive-by of homes prior to issuing a Home Owners Policies. Their reports are half of a page and less than ten minutes to complete, I did this quite a few years ago and was excellent for gas money, but I had to stop I got too busy.

I hope this helps.

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