software (8)

BPO Tools & Automation

Hi everyone,

BPO Labeler is a windows tool I developed to easily and quickly rename photos just by dragging each photo to the corresponding field names - the photo would be renamed and copied to the destination folder that was originally specified. 

You can also access the Price Opinion calculator by clicking on the "Tools" in the toolbar of the application. The price opinion calculator was originally designed for BPO Fulfillment platform but it should work for others as well and I plan on enhancing it upon request since i'm limited which platforms I can use/see.

I would like to know what other tools are currently being used in the BPO business thats makes life easier. If you would like to test BPO Labeler out, you may download it it from the post or contact me. It's free.

BPO Labeler original download link post

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New BPO Automation Forms & Features
 

This is Nicole Ocean, with BPO Automation Group!

I'd like to take just a few minutes of your time to tell you about new stuff that we've been doing. Just in case you haven't heard.....my development team and I have been busy brewing up lots of tasty, new BPO automation concoctions in the last few months.

 Call us to learn more at: 360-223-2482 ext. 1

We now offer our '5-Minute AutoFill' solutions for:

Call us today at: (360) 223-2482 ext. 2 to talk with my support team learn more about our newer add-on products, or click here to schedule your setup session right now!

Nicole Ocean

Founder & Owner

BPO Automation Group LLC

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BPO Automation Group Now Able to Automate: AMN Forms

 

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Top Questions About AMN Forms to BPO Automation Group Sales Manager, Steve:

 

1. Are you able to automate AMN forms?

Yes, we do! So, even if you purchased AMN forms they don't offer a way to automate filling in their online based forms, but we do through our AutoFill software called BPO Automation Suite Pro. Within our automation of AMN Forms you will be able to save at least half the amount of time it takes you now to fill in their forms. It will fill in most of your comp data and subject data (if it was listed in your MLS as recently sold or active/pending/sti, etc.) as well as fill in default information that we designed to be used as a template.

 

2. Is this an alternative to MultiForm?

"Yes, our product is an alternative to MultiForm." (Source: http://www.amnforms.com/FAQs.php#faq_more)

 

3.  Is AMN Forms compatible with Fannie Mae's AMN system?

"Yes, we have specifically designed our product to easily produce the exact forms used by Fannie Mae.

Additionally, the BPO file type is compatible with Fannie Mae's AMN System." 

(Source: http://www.amnforms.com/FAQs.php#faq_more)

 

4. Can AMN Forms Automate MLS Comp and Subject Data Link BPO Automation's Fannie Mae Add-On?

No (Source: Independent Research by Nicole Ocean and BPO University)

 

5. What forms do you have for me to generate?

"We offer just about every standard Fannie Mae form that you use in your everyday business. Below is a list of them: Broker Price Opinion, 2-4 Unit Broker Price Opinion, Broker Scope of Repairs, Contract Amendment, Contract Cover Form, Incident Report, Knowing Your Options English and Spanish, Lead Paint Disclosure, Real Estate Purchase Addendum Ltr and Legal, Relocation Assistance Agreement normal and for CT, Release of Claims regular and for CT, Receipt for CT, Summary of Repair Bids, Warning Sign, Termination Notice, Summary Repair Bid for SAM vendors and the NEW owner occupancy certification." (Source: http://www.amnforms.com/FAQs.php#faq_more)

 

6. What is the price for AMN Forms?

"It is $9.99/month or $99.00/year."

 

7. What is the price for your BPO Automation Suite Pro?

"It is $597.00 as a one-time fee. All of our competitors charge a monthly fee, we offer our highly regarded software as an investment.

 

8. Do you have any installment plans available?

"We do, give our sales manager a call to learn more! Reach him at: 360-223-2482 ext 1.

 

Release: BPO Automation Group or BPO University is not affiliated with, sponsored by or endorsed by any of the above products or retailers. trademarks, service marks, logos, and/or domain names (including, without limitation, the individual names of products and retailers) are the property of their respective owners.

 

Give me a call or shoot me an email for more info!

 

Warmly,

Nicole Ocean

Founder of BPO Automation Group

360-223-2482 ext 2

nicole@bpo-automation.com

 

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How Agents Actually Use BPO Automation

It’s been tough since the crash, but dedicated agents are stepping up to the plate with new solutions to make it in today’s highly competitive REO marketplace. Seasoned REO veteran Kevin Moran joins us to share his business & personal strategies for success with us in a post crash real-estate marketplace, and describes the role that BPO Automation Group software plays in his business.


ar130134764563003.jpgLet's start out with some background: tell me about yourself & the REO business in your area.

I graduated from UC Berkley back in 1986, but didn't find my true calling until 1987, I started my real estate & mortgage brokerage business. For a long time that business grew & flourished - between 2000 and 2005 I was a top national producer for my franchise, which is something I've always been proud of. Then came the mortgage meltdown & foreclosure crisis - when the market bottomed out the values in our area collapsed by 50% - 75%, and our closing volume dropped by 75% as well.

I had to make some tough choices, and in 2006 I shifted the business to entirely to the REO/BPO niche. I applied with around 40 different web-based BPO companies, and within a year I was accepting and completing thousands of BPO's a year. My focus is delivering a quality product, which bolstered my reputation and led to 250+ listing & sales on Asset-Manager Directed homes.

It's a constantly changing industry, though - by 2009 I was experiencing 80% drop in REO volume, and that's when I focused on truly maximizing my BPO revenue. I purchased both AutoFill and AutoAcceptance products from the BPO Automation Group, and was able to double the number of BPO assignments I accepted as well as cut the BPO form-completion time in half, which has been a major productivity boost for me. Using BPO Automation Group software, I was able to increase my volume and turn around over 2,500 BPO's in 2009 and 2010 - without losing the quality that I pride myself on.


You've gone through some ups & downs in life - you were featured on 60 minutes a while ago, but I know you've had some down times also. Anything you'd like to share about that?

As the mortgage meltdown & foreclosure crisis developed I was caught in the cross hairs: I lost my entire real estate holdings ( 5 properties ) to foreclosure, and had to close my 3 offices and start again from scratch. These are difficult times for a lot of agents - there's a lot of adversity, and overcoming it's a long, difficult process. It's a crushing emotional experience to go though, so in terms of how to get through it I'd recommend starting with yourself.

You have to stop feeling sorry for yourself, start associating with positive, optimistic people, and never give in to despair! It's an experience that has renewed my trust and faith in spiritual power.

Now professionally, you want to get connected, and get educated: Join and participate in industry REO agent associations ( ActiveRain / NFSTI / Reopro; etc.); Study and followed current trends and changes in my local market; Take numerous training and learning courses; Network with fellow experts.


What advice would you share with new agents or brokers in the REO industry?

You are not alone, and you do not have to reinvent the wheel! Select and follow the plan(s) of fellow successful reo / bpo experts, and learn as much as you can about the industry. There's no magic bullet, and it may take you two or three months to start seeing real income from those BPO's, but it's a system that will work for you if you work it. Keep an eye on your local market - know how & when to shift between REO listings and BPO's, because the market is still volatile. Also, remember the 80/20 rule, and take advantage of technology to maximize your productivity! Spend your time on what makes you money; not on data-entry.


In terms of BPO's: you do a lot of them. Can you tell me how BPO's fit into your REO business?

BPO's are currently 90% of my revenue: they are a giant part of my business, and BPO Automation is crucial to my BPO's. They provide that steady stream of income that we all need right now: I've done as many as 5 BPO's on a single property from the same vendor over the course of 18 Months. Of course, you don't want to rely on any one vendor: I never stop applying to additional vendors suggested by the fellow experts I network with. The two keys to my BPO business are the quality of my product and my service-levels: you must be responsive!


What about listings? For your business, are BPO's directly connected to listings? Should they be?

BPO's and listings used to be connected, but not in today's market. Simply put, the listing market is cyclical, and highly volatile. The flow of REO properties into listings has been interrupted many times over the last couple of years by foreclosure moratoriums, scandals like the "robo-signer", and other political issues have been very disruptive to the supply pipeline. Also, as more agents join the REO niche, it means that the volume of REO listings is spread out across a larger number of agents. I regard BPO's as a separate profit-center, which right now is not necessarily linked to listings.


How has BPO Automation Group software helped to transform that business?

BPO Automation Group software saves me time! That's the big one! I save 50% on average per BPO, and that really adds up. BPOA software helps me through the full valuation process, which means that I save time moving data into the BPO form, but also with auto-population of comment & market data. I'm also saving a lot of time in rework: when you're doing BPO's by hand, it's easy to make typos: with autofill I'm not doing the cut 'n paste routine, so I have fewer errors, which leads to fewer clarification requests from BPO companies. Honestly, it's nice to hit the "submit" button without worrying if I missed a check-box on the form, and without worrying whether my energy level or the time of day is going to give me more typos than I'd otherwise have. Errors are down, quality is up.

The time savings depends a bit on the company you're working for - in the case of small forms such as Landsafe, BPO Automation Group software lets me turn forms around in 12 minutes; for larger forms like Clear Capital, that time is closer to 20 minutes. It's still a lot faster than doing it by hand.


OK, AutoAccepters. Should people use them? Are they ethical? Where do they fit?

AutoAcceptance is a part of today's industry. If the BPO company puts the order out there for me to accept, then yes, they're ethical! In any case, there's no real difference between using a software-based AutoAccepter versus large brokerages with "live" assistants who sit on their PC's clicking refresh by hand. The biggest difference is price: an autoaccepter doesn’t require a salary, doesn't call in sick, and is available to work 24x7 depending on when my providers are broadcasting.

Back in February, I wanted more volume from this National Vendor. I sent an email, made a telephone call, and asked for the opportunity to demonstrate my professionalism. They responded by sending out 8 email / text order opportunities - of which I was able to capture only 1. The rest were picked up by other agents.

Now fast-forward to March: using BPO Automation's Order Central platform, I was able to capture 20 out of 21 opportunities that were sent my way, for a total of $1,240 in BPO revenue. That's a return-on-investment if I've ever seen one!


You used the AutoAccepter 2 for a long time: now you're using Order Central. Can you describe the difference for me?

It's got a lot of new features & enhancements, but the ones that really matter to me are the ability to run unlimited company accounts as well as the ability to filter the orders that I'm willing to accept by payout & zip code. I can accept work from across a larger number of companies, and I can afford to be a little pickier about the BPO's that I take. I also appreciate the improved reporting & accounting features that are built into the platform - it helps to have a list of what's been accepted that I can use to help balance my books!

Those are key selling points for me: If somebody's been growing their business with the A2, being able to run more vendors and use the accounting functions in Order Central are pivotal to getting them to switch. Also, it verifies the Orders that it captures: you tell it what payouts you want to accept, and just relax knowing that it's going to get them. It's a stable platform - just turn it on and it runs. I also like the fact that it deepens my relationship with BPO Automation Group: I like their products, and they're responsive to my feedback as a client - Order Central is the result of features that we wanted, so there's really no reason not to upgrade.


Who would you recommend BPO Automation Group form-completion software to? Who would you not recommend it to?

Personally, I'd recommend BPOA Autofill software to anybody who's currently completing more than 5 BPO's a month, or to anybody who wants to develop a BPO profit center. It's not just software: it's also a process for completing BPO's, and it makes life easy to run a high-volume shop when you're using a process developed by people who know how to maximize your productivity.


Where is Kevin Moran going next in the REO industry? Where do you see yourself in 5 years?

I'm currently doing 2,500 BPO's a year, and averaging 5 REO closings a month. That's a start, but I'm also diversifying into training and coaching - I really want to help my fellow REO & BPO professionals double their income, and I'm positive that the techniques I've learned over the last few years in the industry are the key to making it happen for any agent. Sometimes you have to learn the hard way - and when the market fell apart in 2005 we all had to get smart in a hurry to stay alive. Now that we know how it works, though, there's no reason for our colleagues to suffer through the same lessons we did.

Also, the market's slowly improving: for me, that's a golden opportunity. Before REO, I was on top in real-estate; by combining what I've learned in the REO industry with what I did before, I'm confident I can build a new generation of post-crash real-estate business capable of thriving in the ups & surviving the downs!

 

Kevin Moran is an associate broker in the Stockton, California area. You can learn more about him by visiting his real-estate brokerage online at www.stocktonnewhomes.com, or by visiting his coaching site at www.reobpoinfo.info.

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REO Transaction Management Software – Feature Tips – Part IIIf you are looking for REO Online Transaction Management software for your business, there are many features that you would want to consider before purchasing. Because you want the software to make your job easier not harder! You want it to be able to streamline processes rather than bog them down.Here are five more features that you should consider when purchasing an REO Transaction Management Software.Security- Does this software utilize Secure Socket Layer (SSL) technology? It protects your information using both server authentication and data encryption, ensuring that your data is safe, secure, and available only to registered Users in your organization. Does the software utilize the most advanced technology available to keep your sensitive data secure? How often do they back up their data? And is the backup available to you at your request?Remote Access –Are you able to access your software remotely? Since agents are so mobile it is important to choose a program that fits the way you run your business. You should be able to access your account from anywhere. Also you should be able to access it with any mobile device that you have such as a Blackberry, or cell phone.Flexibility – How open is the company to suggestions from you to help your reo transactions run more smoothly? Let's say you need a feature such as email reminders to be sent before the due date on a task. I once asked a company if they had this feature. They did not. I asked would they be willing to put this feature in their system. Surprisingly they were not and could not see the value that we would receive from it. For REO Agents and transaction coordinators it is important, because then we would not have to log into the system daily to get our reminders.Transition- If you are not using an REO software program, can your data be easily exported to their system? How long will this process take? Will the company do it for you or will you need to do it yourself? Some companies are willing to do this step for you to make your job easier. Also if you are using a REO software program and you want to switch, can your information be easily transferred to the new system?Cost – Some companies have a flat fee for one year for an unlimited number of transactions. Some companies have a set up fee and then a fee for a certain number of transactions. Then you have to pay if you go over that number. Some companies offer a free trial – which is important to take advantage of. You can test it to see if all of the features that are important to you work smoothly. But you can compare costs to see if it will fit your budget. But also you can compare costs with features to see what company offers the best value.Guarantee – Along with the cost it is important to ask what is their satisfaction/guarantee policy. Once you sign the contract, are you locked in? Or can you stop services if you do not receive the services that were promised?Whatever software you choose, just be sure to consider these features before you buy.To your Business Success!
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REO Transaction Management Software - Part I

REO Transaction Management Software – Feature Tips – Part IIf you are looking for REO Online Transaction Management software for your business, there are many features that you would want to consider before purchasing. Because you want the software to make your job easier not harder! You want it to be able to streamline processes rather than bog them down.I will touch on five features:Task Lists – is there a feature where you can use the same task lists for each property? Can you assign a task list to a property with one click? And can you edit the lists easily if need be?Email Tracking – does it automatically store the emails under the particular listing? And also are you able to use your default email provider when sending emails. And if you are able, will the system still track the emails?Expense tracking – If this is an important feature to you, it is important that you find a system that does it accurately and preferably in real time. With so many vendors involved with your assets, it is crucial to have accurate records. Also does this system have an easy way to import and export files, such as an Excel spreadsheet.Support –This is very important because for most agents, it is needed 24/7 because of the many tasks that may be due on a particular property. And some agents may not be able to get to their computer until late in the evening because they are out in the field all day.Document Storage – How much can the transaction management system store? If it is not unlimited, how much will they be able to store before they charge a fee? Also how easy is it to access documents and photos for each file? How user friendly is the filing system? Is it customizable to your business or do you have to use the software’s filing system?These are just five features that should be considered when considering a REO Online Transaction System. The most important point to remember is will it streamline the system you are already using? You want to be able to have a tool that makes your job easier and more organized.In part two I will touch on five other features that you should consider when purchasing REO Online Transaction Management software.
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Managing a Successful Operation

Managing a Successful OperationRather you're a large real estate company or a one person operation; a system must be in place for you to manage your work flow in order to be effective and efficient in real estate today. E-Broker House (EBH) is a system that every office and or agent should not go without.Short-sale transactions and, Bank owned properties dominate the market and are not going away anytime soon, as well as, the rise and need for property management. If you truly want to be effective, organized and on top of your game, not only for your clients, but also for your vendors; this system is worth a Free 30 day trial. After trying it I knew there was no way I was going back to paper. Here are just a few things that E-broker House Has Streamlined for my office.Vendor Management: All of my vendors can be tasked work assignments, and contacted trough the use of EBH.Document Storage: Every property that is listed and sold can be archived on the system and later downloaded to a Flash Drive or CD. (The days of large paper files are over)Contract & File Mgmt: When's the last time that 100% of your agents used a conversation log? With EBH the conversation log is built in for every property and places an automatic date and time stamp of every entry made.Offer Management: For every property listed, offers can be uploaded and stored with in the system for each property by buyers agents. Multiple offers are easy to manage and a counter can be sent out to all agents with one click of a button. Sample Link Below http://ebrokerhouse.com/property_search.php?display=136Monthly & Annual Commission Reports: I could go on for ever, however we all have limited time these days. Try the system for yourself and let me know what you think. www.ebrokerhouse.com Is your business worth the investment of 29.00 per month for a system that will make you more effective?Regards,Jonathan BurgessCode 3 Realty & Mortgage CorpPresident/CEO
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EbrokerHouse VS TazaREO

My firm recently switched from Taza REO to Ebrokerhouse.com to manage our REO listings. While Ebrokerhouse is much less expensive and easier to use, the keycode feature alone would justify the switch. We post a link in our listings. Agents register for showing and receive instantly the keycode specifically set for each property, while I receive an email on my cell from the inquiry. Agents then register their buyers offers, attach a scanned copy and submit. When I log onto Ebrokerhouse, all of my new offers are clearly labeled that require my attention. Taza took weeks to initially setup and launch. Ebrokerhouse was setup instantly, we were up and running the first day, no training classes, no tech support issues, nothing. While Ebrokerhouse.com is a fixed monthly fee of $29.99 for unlimited use, Taza had a sliding scale starting at $150 per month for up to 50 active properties, then $300 per month from 51 - 99. Cost savings, ease of use, responsive, and the wonderful combo/keycode feature makes Ebrokerhouse a no brainer.Richard StewartREO Specialists llc914 S Burdick StKalamazoo MI 49001www.REOmamma.com
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