Jimmy Payne replied to Douglas Mueller's discussion WHY DO WE EVEN DO BPOs ANYWAY?
"I do BPOs so I can stay in touch with the market trends in pricing and supply.  The last 5 years have been crazy and it is the best way to know the prices in your coverage area market.  I used to think maybe I would get REO listings if I did a good…"
Jul 14, 2014
Jimmy Payne replied to Vivian's discussion BPO COMPANIES THAT PAY AND SOME THAT DON'T - JULY 2013 REVISED
"A few suggestions, always make sure you have a cell phone and  an escape plan (if the house is on a dead end road, park facing the way out).  Call 911 when you are being followed by an angry owner.  You have the right to take pictures from public…"
Nov 5, 2013
Jimmy Payne replied to Vivian's discussion BPO COMPANIES THAT PAY AND SOME THAT DON'T - JULY 2013 REVISED
"Great post Justin- the companies got greedy when agents needed work and as more agents jumped in to d BPOs and REOs in bulk, prices went down.  As more retail sales come back, those who do not want to do BPOs or REO will leave and it will normalize."
Oct 28, 2013
Jimmy Payne replied to Vivian's discussion BPO COMPANIES THAT PAY AND SOME THAT DON'T - JULY 2013 REVISED
"Anyone have any experience with AMS, AMS - Asset Management Specialists?  I just got an email saying they are looking for agents to complete 100-200 BPOs a month $45-55 each. "
Oct 28, 2013
Jimmy Payne commented on Jesus (Jesse) Gonzalez's blog post Thinking of Short Sale Flipping.....Think Again?
"No sign, no lock box and only listed in 1 of 2 MLSs in Atlanta, the least used one of course. Under contract the day it was listed with no highest and best deadline.  This way they don't get replicated to the aggregators like realtor.com or trulia. …"
Oct 21, 2013
Jimmy Payne commented on Jesus (Jesse) Gonzalez's blog post Thinking of Short Sale Flipping.....Think Again?
"One day the banks will realize the loss in short sales and will start to assign them out like REOs.  Kind of surprised it hasn't happened yet."
Oct 21, 2013
Jimmy Payne commented on Jesus (Jesse) Gonzalez's blog post Thinking of Short Sale Flipping.....Think Again?
"Seen it here in Atlanta for many years.  It is also rampant in REO assignment with asset managers getting kickbacks from listing agents.  It makes it difficult for honest agents to get the work they can do.  If people would work hard and work within…"
Oct 21, 2013
Jimmy Payne commented on Jesus (Jesse) Gonzalez's blog post HSBC Bank Policy Designed to Destroy Homeowners who want to Avoid Foreclosure.
"It would appear to me that this is damaging the owner for no reason and there should be some sort of protection from the state Attorney General.  When HSBC is being made whole and the 2nd lien holder is agreeable to the loss, they 1st lien holder…"
Oct 10, 2013
Jimmy Payne commented on Jesus (Jesse) Gonzalez's blog post HSBC Bank Policy Designed to Destroy Homeowners who want to Avoid Foreclosure.
"I know TN is like GA and not a judicial foreclosure state but maybe you could find an attorney to file for a protective order to prevent the sale in order to preserve and protect your commission.  I would think a Superior Court judge would agree…"
Oct 10, 2013
Jimmy Payne commented on Tony Rosales's blog post I got an email yesterday asking if REO is dead. Here is my reply and more…
"REO will be dead as mainstream sales which is where it belongs.  Many brokerages realized that it should be part of their portfolio which makes sense, don't keep all your eggs in one basket.  Once the housing supply catches backup to the 5 years of…"
Aug 25, 2013
Jimmy Payne commented on barbara scarbrough's blog post REOs the truth and nothing but the truth
"No 5star here, nor CDPD.  Most of these ad hoc designations are just to make money for the creators of the program and not to get leads.  BPOs to me have been and will be a way to stay current with market trends while still getting a few bucks."
Aug 20, 2013
Jimmy Payne commented on barbara scarbrough's blog post REOs the truth and nothing but the truth
"This is indicative of the real estate profession as a whole.  Buyers can see a list of homes for sale online in the aggregators themselves with values included and think they can do it on their own.  Banks, AMCs and Servicers feel the same way, real…"
Aug 19, 2013