mills - Blog - REO Pro Network

With all that is said negatively about BPO Mills I wanted to send a shout out to Clear Capital. Not only do they pay a fair fee for their service they pay quickly. I did three BPO's for them recently and got a check for all three within about 10-14 days. If they can do it why can't the others? I often wait for 60 days. Personally I think many of these companies are living on the float like a famous one last year that went under owing hundreds of thousands of dollars to agents all over the US. They sent out a "we are so sorry" blast email stating they were "just behind" and promised to get us all caught up only to never be seen or heard from again. Be careful out there you guys if a BPO company owes you too much money you may never see a dime of it so make sure you check with all here to make sure they are legit. The list provided on REOPRO is the most reliable one I use. Also be sure to Google them to see if any other agents complained about non payment, and please for goodness sakes NEVER pay to get on their prefered platinum certified list it is always a scam.

BPO MILLS, ARE VALUABLE TO THE REO AGENT/BOKER?

More often then not, I hear agents and brokers say that BPO mills are a waste of time because they don’t lead to listings. I, at one time felt the very same way. However as my business has flourished and Reo Listings are more abundant for me than they were a few years ago when I was breaking into this business, my views have changed.

BPO mills are extremely valuable to my operation and will continue to be a intricate part of the success of my business. They are valuable because they provide a training ground for agents within in my team, and those looking to be added to my team. The agents also get paid for the training.(For Example 50 drive by, my agents get 40 if the bpo is turned in on time and not rejected, for each rejection 5 bucks is taken off.) As the experienced REO Broker will tell you, as well as any Asset manager, REO begins and ends with a Good BPO. As REO agents, and Brokers, we are as strong as our weakest link. Your link starts with the BPO, therefore the more agents on your team that can do quality BPO’s, the better off you are for taking your business to the next level.

BPO mills are great because the have their own built in quality control and QA. What better training could one provide for agents looking to join their REO team? Further more this also allows you to determine when your team member or agent is ready to complete BPO’s related to listings.

My concept is simple, get your BPO’s done ahead of time, and on time at the very least, without rejections and your on your way to being added to my team of REO agents. Well, it not as easy as that. I require my agents to complete a min number of BPO’s per month from BPO mills. This allows me to continuously monitor and evaluate agents on my team. It also gives the ability to assign co-listing agents to those that have proven themselves worthy, just as all of us have as REO agents.

The more agents on your team you have trained, the better off you will be to effectively handle the massive volume that many of us will see. So, the next time you get that email from a bpo mill, consider accepting it to train another. After all, like I said earlier, your as strong as your weakest link. How many REO’s can one persons effectively handle, vs. a team of trained agents? I’m ready for the volume and to take on more. Are you ready?

Very Truly Yours

Jonathan Burgess

Code 3 Real Estate CEO

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Clear Capital Rocks

BPO Mills, Are They Valuable to REO Agents?

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