USRES BPO to Listing Ratio

We have been doing BPO's for USRES for a while and when we first started they had a 10:1 ratio. Meaning if you did 10 BPO's you would be assigned a listing. Then in May they said because of a lack of inventory they were changing it to 15:1. Now we are seeming to be up to 30-40 BPO's per listing and Vendor Management hasn't really responded to any inquiries. I was wondering if anyone else is experiencing the same situation with them.Thank you,
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  • I am just curious if any members are doing these BPO's for USRES anymore?  The last few posts are very dated.

    I personally do no feel I need to work for free for a company that does not give any assignments.  It reminds me of Team Lear, etc.  It's too bad that our industry and those who work hard may not get the respect of our time or talents as we should.  Maybe if agents did not accept their assignments they would be forced to pay for the work that is done.

    I am just curious if anyone is getting any assignments at all???

  • Michael: thanks so much for the feedback....I have been so busy I havent been tracking which BPO's are making me money........not costing me money.......and that isnt good for my bottom line!  You are great!
  • HI Lisa,  I stopped doing BPO's for USRES a while back.  I was told by a representative at USRES that since everyone was trying to get in the REO business and they were being told BPO's are the way to get yoru foot in th door they had been bombarded with agents requesting BPO's and the new ratio was closer to 40 BPO's before a listing.   Perhaps it has changed, but I stopped doing them last fall.

  • Michael: are you still doing bpo's for USRES?  I have completed 3 for free that are quite far from me....turned down one because it was hours away..........turned down another because I couldnt make a little scared that I read 15 to 1 ratio before listings..............that means, after gas, I probably should have just thrown money off a building and saved my time since the average sales price in my city for a foreclosure isnt a bunch......any one got feedback on USRes that has been recent or this year?
  • I recently did 20 BPOs for USRES. They told me I would get listings after 15. After I had done 15, the told me they would be coming soon or I could be changed to a paid BPO broker. Once we got to 20, I inquired again and they again gave me what I felt was the run around. Next, I asked to be put on as a paid BPO broker and was promptly told that they did not have such a thing. I felt very misled. I have worked with several very fine companies and I was shocked to get the treatement we did for USRES: especially after we jumped through hoops to get the work done on a high volume fast response basis. For us, USRES was a big mistake and certainly shook my trust in doing business with out throughly checking them out. I read that someone said to get a solid specific agreement up front before doing the first BPO and I thought that was a great idea. I blame myself for being trusting, but won't make the same mistake again. I also suggest GOOGLE-ING or searching them through other search engines.. When I did this I found that many others had the same experience with this same company. A little research could have samed my team a lot of time, money and frustration. Lesson learned.
  • I have been doing BPO's for USRES for a while and read some where that it was 15:1. I am looking for that first listing. When I get number 16 bpo I will ask.

    Thank you, Alicia
  • This is a tough topic. Everyone wants to weigh the amount of work that is done on the free BPOs against the return of listings. This makes sense and each person has to make their own judgment call on this one. Here are the facts. I spoke with someone that I know, who is "in the know" and at the time I spoke with him he said that you will have to do 18 free BPOs for USRES before you eligible to get a listing. With that, you have to understand that inventory is down across the board, so consequently their inventory is down as well. On top of that, the number of agents that are looking for work is way up. Taking that into consideration it makes sense that the BPO to listing ratio is going to change. USRES is a reputable company that does have REO listings, but they do require you to do free BPOs. What you as the REO agent has to decide is whether it's worth your time to build the relationship that is required for you to possibly get listings from them, or not.
    Now you know the "real deal", so you can make your own decision.
    Wish you all the best.
  • Unlike many other companies at USRES is very well organized and responsible company. They tell you upfront:” You will be eligible for the future listings..." Many companies at USRES and especially at REONET WORK like to use your FREE BPOs for the "future listings "that never happened....Do not DO BPO for future listings without any agreements. USRES so far is a good partner to me. I was on waiting list...that did a few BPOs , started getting listings....
  • Trust me, they will come. Be patient, do a good job, be on time, remain close and be thourough. They are the company I started with and they have been good to me. Nothing great, but steady! It pays for itself, and I love doing the BPO's they are quick and easy! They do pay off!
  • Hi Michael,
    I just want to share with you my experience with USRES. When I started last year, my colleagues advised my to steer clear from free BPO and USRES in particular. Since I didn't have a lot going on, I decided to give them a try. After 5 freebies, I got a listing from them. It was a duplex. While I was closing that listing, I got a listing from another company because they saw my listing on RESNET and it was another duplex. Well, unfortunately, I haven't received anything else from both of them even though I sold those listings within a week. Needless to say, I got compensated more than I could imagine thanks to those freebie that I did for USRES. Maybe I was lucky, but I believe that USRES is a good company. It pays to have a little faith and patience.
    Good luck, Michael.
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