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"Maybe I misunderstand. Is this your property located far away from where you live?"
"Not me but per most instructions and company agreements, you are supposed to take your own 📸 photos. I suppose if it's for extenuating circumstances, you could get permission for someone else to do them."
"It's always relevant to note where you are located. I'm in Akron Ohio. I haven't had large numbers of BPOs in years. Our foreclosures have been way down for probably 6 or 7 years coinciding with huge rent increases.
That said, I am at the stage…"
That said, I am at the stage…"
"I've heard of Owen but never had any business with them. 5th 3rd freebie BPOs used to come from USREO, part of RESNET. I have had that letter in the past but I don't remember ever responding. If the "I" doesn't have a full name and direct contact…"
"Gas was the same average price or a little higher in both 2008 and 2011. BPO fees are the same and lower than in 1998. As inexperienced agents move into the realm and take those lower fees, nothing will change. It's been a constant situation since…"
"What are the other platforms charging?"
"There is no guarantee of listings. The asset companies pick their agents. Resnet does not. The BBB will simply look at a contract and dismiss any complaint."
"They need to use our fees to improve the functionality of their platform. The offer function is overly simplistic. Tasks are automatically assigned and the asset managers don't have control over them except to delete them when you point out that…"
"That's usually the first indication that a BPO company is having financial difficulties. Sometimes they are being squeezed and not charging their clients enough. Sometimes their clients are not paying them either in a timely manner or at all. But…"
"What are other platforms charging?"
"As usual, as useless as NAR generally is, these lawsuits are ignorant jokes. It always makes me wonder if the attorneys have ever talked to any listing agents or sellers or buyers agents."
"Thanks Nicole. I used your auto-accept for a while and it helped for a while. As for retirement, I'm probably right behind ya."
"Which bank? Which property? What are the circumstances?"
"LRES assigns the property, has you check occupancy, etc. while it's in redemption. The BPO task comes later."
"Even though I never got a BPO from them, they are reminding me to update my E&O so I at least know I'm still in their database. 😁"
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Comments
An inquiry about LRES: YES, they do pay. And they are now assigning listings! I just got 2 that have already gone to sheriff sale and I did the occupancy checks this week. Both vacant. YEAH! Both on lockbox and standard keys. YEAH!
Actually all the above as commented by you. This is one of the largest in the US which had a reo dept. before the government found out they tried to get agent to price low. I fought with a short sale valuation which was kicked back with more questions. In this case, I told them to order their own report from a professional appraiser. That triggers a compliance issue.
Two weeks have passed I feel good not have to deal with this company. I picked up ones or twos from small companies for more $ /rpt and showing rental homes between listings. Thanks for asking
CECE - I grew up in Summit County. :-) LaBron has gone HOME! :-)
thank you CeCe I do about 30-40 a week. since I am semi retired from regular real estate so the auto saves me a lot of time. I am sorry about your physical issues. It is He** getting old. I am with you there. I must cut back. I feel they expect too much for too much work and so little pay. Better to work another avenue in real estate. But I have to eat.
I saw you have worked with Selene. I have 10 assignments. We are a new judicial state w/ 6 mo redemption. I got the 1st listing contract and was totally taken back. Non exclusive listing w/ 3 clauses that are designed to eliminate procuring cause. A clause to make their payment of utilities at their discretion. At any time during the 3 mo. listing period they can pull it for special programs (REO to RENT I assume). Broker is not entitled to any expenses incurred if pulled. This does not exclude utilities or repair expenses. This leaves me so exposed. I am afraid to move forward.Contract is dangerous to my business as written. I have $15k in repairs slated. The pay direct to contractor but can disapprove & stick me with the repair bills at any time. (2.1% -$150 pyramid tech fee) . Is this typical? Have you has good experience with Selene? How many have you closed? Any info would be so appreciated.