I HATE TO BREAK THE BAD NEWS TO THE GROUP. THE BPO FAIRY DOES NOT EXIST!
I hate to break the bad news to the group. The BPO fairy does not exist. Yes, I know it is a shocker. My son turned nine this year. He informed me that he no longer belives in Santa Clause. Reality is the best policy as we continue to age in life. Well, I am here because I decided to go after the REO business in 2011. Many of my real estate peers are calling me crazy. That is when I know I am doing the right thing. I have always believed to go opposite of the herd mentality.
What is my next step? Well, I consulted with many successful REO agents in my local area. The informed me that I will need the following to be a successful REO agent
- Be successful in doing BPOs(Broker Price Opinions)
- Accessible 24/7 to asset manager
- Proven track record in distressed properties both in knowledge and sales
- Sphere of influence
- Network like crazy
My first step in climbing the REO mountain was to sign up to asset management/BPO companies. I developed a process to sign up as soon as possible. I needed the following information in PDF format:
- Professional resume
- Real estate license
- Broker license
- E&O insurance
- Zip code coverage
I was able to sign up with 48 companies in the first three days. I did this activity at the end of December of 2010. I was able to get approved by 11 companies in 72 hours. THE BPO FAIRY DOES NOT EXIST. The only way to get BPO business is to go after it. That has always been my motto. So, I was able to obtain 13 BPO orders from the same company that were due the following Monday by noon. How am I going to get it all done?
I signed up with Realty Pilot for BPO automation. I never used Realty Pilot before in my life. I went to work on completing the 13 BPOs that were assigned to me. First, I was able to complete all the photos in a two hour period. Second, I started obtain three solds and three sales for subject property to determine value. Finally, I entered all data into Realty Pilot. The BPO automation worked like a charm. I was able to transfer the data files from Realty Pilot to web site by using the macros offered by Realty Pilot. DONE DEAL WITH DELIA! I am on my way to conducting more BPOs. THANKS REALTY PILOT!
THE BPO FAIRY DOES NOT EXIST. MAKE IT HAPPEN TODAY AND BEYOND!
I look forward to your comments on this post. Here to serve