Just got a BPO interior request, when I called because the email said payment is $0, I was told that agents agree to do BPO's for them for free in order to get listings.
Does anyone have any experience with this?
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I have one prelist with them right now. I do some of the free bpos for them, although I do not like to. They are on RESNET, which is their sister company. The last property I sold for them, paid a terrible commission, a whole $1250 for both sides.
They are very pushy about time constraints, they will email you incessantly until the report is done.
I don't like RESNET. The whole idea that I have to pay ANOTHER fee for the priviledge of an REO listing is absurd. I emailed her back and said I would only do BPO's that pay.
I know, but that is the state of REO these days, I have paid over $400 for background checks so far this year and I have more that are needed. I think this is ridiculous.
LOL. I too have paid for a couple of background checks, then got smart. Since I got a copy of the ones I paid for, I replied to all other requests and told them that I had already paid for one and I would be happy to forward it to them but would not pay for another one since part of my annual state real estate dues is for background check and fingerprinting which was also done a few year back.
No more requests!!!
They will pay you if you insist. I did a few for free, thinking listings would be forthcoming. It never happened.
I sent them an email saying I would only do the BPO's that paid. After thinking about it and reading everyone's comments I kinda figured something like your situation was probably what would happen.
I've found with USRES, they will pay $100 for interiors. I even got paid $200 for an exterior 1 hr away. By the time you complete X amount of BPOs, you'll be money ahead instead of taking the listings. I at least feel better I'm not working for free.
When she replied to my email she asked if I wanted to be on the "pay for BPO list" which would remove me from the list of agents getting listings.from them. $100 for BPO's could well be worth my time.
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