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,Michaelmichaelbabbitt@kw.com
Funny, I have always found their quality control to be VERY realistic. In all of the bpos I've done, they've never asked for any changes to be made. I just make a notation if I needed to deviate from the requirements and they are fine with it as long as the changes are realistic.
I've done about 15 bpo's with them. No more! So far, i've received nothing! About a month ago, they asked me to do a bpo and I told them I'm not doing anymore until I get a listing. Since then, I havn't heard from them... Stay clear!!
I did some and got a couple of crummy listings that were vacant lots in failed developments. And I mean individual lots not a bunch to sell to a developer on the cheap. Then they started sending requests for further and further away and although I would take a listing in these locations, a free bpo is another matter. They also started shorter and shorter turn around times. The final straw for me was when I declined one and got a call back threatening to blacklist me. It was 70 miles away with less than 48 hrs to finish. I am on RESNET for other companies and the platform is good but usres is not at all realistic.
Thanks for everyone’s comments. According to USRES they are seeing little inventory coming in, but based on the number of clients requesting BPO's they hope for a strong 4th quarter. I think part of the problem is an abundance of REO seminar/classes/coaching etc... and most, if not all are urging agents to sign up with USRES to get started. This with a weak inventory is causing ratios to climb
Just my 2 cents. Stay clear. I have heard very little good from anyone doing business with them. The tails of multiple free BPO's with no upside are long.
The CEO of USRES taught a class I attended at 5 Star in 2007. He said we should all sign up to do free BPO's. At the time I thought it was crazy, so I didn't. About 8 months ago, after reading on different forums that agents were receiving listings, I decided to give it a try. I did 11 BPO's, and then they stopped sending them. I know there is plenty of BPO work in my area, because I have a crew of 3 that are kept busy with a steady flow. I have received a few orders from RES.net, but no listings as of yet. I think they're a reputable company, possibly there is a lack of inventory in Connecticut, or maybe I'm not up to 15, so no listings yet.
30 BPO's x $50 avg.= $1500 = 1 listing of at $100 000.( 2% avg. comm.- broker's cut)
What are the chances fro you getting lower price listing? Does it count if you get $30 000 Junk?
30 BPO's x 2 hour per BPO = 60 hours
What can you do in 60 hours? How many open houses? How many phone calls to pass clients?
60 h = 15 open houses = 7 new prospects = 3 closings.
Michael, I just started with them after over a year of waiting and asking for free bpos. Now that I've done 4-5 there is a longer wait? hmmmmm... On top of this, I find their qc to be really tough. I would be interested in hearing other experiences.
Comments
What are the chances fro you getting lower price listing? Does it count if you get $30 000 Junk?
30 BPO's x 2 hour per BPO = 60 hours
What can you do in 60 hours? How many open houses? How many phone calls to pass clients?
60 h = 15 open houses = 7 new prospects = 3 closings.
Susan
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