September
13
2011
One of the main draws to my blog includes my free BPO list I make available to all agents. What goes into a good BPO list? How do you know which are the good and bad companies?
Constant Work-in-Progress
Since I compiled my list back in 2009, there have been many changes in the BPO/REO industry. Some companies are out of business, some companies have gotten better, some worse, and some new ones have come along.
Most of the time, I rely on you, the agents, to help keep my list current and up-to-date. The last update I did was a few months ago and I’m sure it already needs updating! So if you have received my list and you find that I need to update it, please let me know. I do take pride in providing this list free of charge.
How I compiled my list
Almost all of the companies and links on my BPO company list were compiled through internet searches. I feel like I have a knack for finding information online that most people can’t find. Some of the information I find through simple google or yahoo searches, and some of it I found through forums and other similar websites. If you start bouncing around from page-to-page, you’ll start learning new search terms you should look for and that’s what generally happens to me. If my first search was for “bpo jobs in Rochester NY”, I may bounce around different websites until I find a website that says the best BPO company in this area is John Jones Asset Management then I might do a new search for “John Jones bpo signup”…and that search may lead me somewhere else. It almost feels like a treasure hunt sometimes.
Once I have found the information, I add it to the list I’m compiling. If I receive feedback that a company is no longer in business, I remove them from my list.
Over the months (and years), this fluid list has proven to be a great tool for many new agents. Some people are selling this same information elsewhere on the internet and I feel that you don’t need to pay for it – spend your money on something else worthwhile (get a dinner for your significant other, that’s definitely more important than a silly BPO list).
Thanks for your support and readership, keep letting me know how I can improve!
-Rob
June
22
2011
No shortcuts
Some real estate agents think that they can just call a bank and ask for their REO Department, and BOOM! Instant BPOs and REO listings! In the real world, that’s not the way it works. It takes hard work, just like anything else in life. There are no shortcuts – you must put in your time and eventually you will be rewarded if you work hard
Many real estate agents want to start listing foreclosures for banks but they are unaware of all of the steps required to begin. For example, unless you have a personal contact at a bank, it’s virtually impossible to just call a bank and start listing their REO properties.
To receive BPOs (and eventually list REO properties) directly for a bank,
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May
13
2011
In today’s market, dominated by short sales and REO properties, a new breed of real estate agent has emerged: The BPO Guy.
You many know The BPO Guy – he (or she) does hundreds, if not thousands, of BPOs each and every year as their primary source of income. You might even BE The BPO Guy.
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January
27
2011
It takes a special kind of person to deal with the headaches of evicting a tenant! (That’s why you love your job though, right?)…
Most people would cringe at the idea of knocking on a door, telling a family they need to move out within xx days…but as an REO agent, that’s part of your job. When a bank takes back a property as REO, it’s one of the first steps they need to take to properly market the property.
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December
28
2010
The Argument
Many appraisers try to argue that broker price opinions are a HUGE problem in the market. they say that BPOs are causing all sorts of problems since they are basically “cheap appraisals” and the old adage “you get what you pay for” applies. In general, here’s the argument from the appraisers:
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November
9
2010
Most agents have a goal of obtaining REO listings – this is the main reason why agents perform BPOs, trash-outs, cash-for-keys, and all those “pesky” tasks which pay very little money. The big money is in the REO listing – RIGHT?
Not so fast…
Sometimes, the REO listing can be more of a hassle than it’s worth. If you are eager to just accept any ol’ REO listing, you might find yourself disappointed. Let’s take a look at an example:
Let’s say your market is like mine, houses routinely sell for under $100,000. Now let’s say an asset manager calls you up and says, “Ok Mr./Mrs. agent, I have a new listing for you.”
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November
2
2010
As mentioned in the last post, I am going to talk about HOSTING your website.
This topic took me awhile to actually “grasp” the concept. But for those of you who are new, I’d like to try to simplify the concept of web hosting.
When you purchase a domain name such as www.yourname.com, you just own that name. That domain name, in and of itself, isn’t a website (you can’t go to that website yet)…you must first purchase a web hosting plan.
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October
26
2010
How do you choose a name? It’s an important decision, because it’s a great way to “brand yourself” and carve out your niche in your marketplace. Many agents today have websites with YourName.com. How’s that for branding yourself? Nothing better than your own name!
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October
22
2010
Now that I’ve been blogging for several months, I do enjoy it and find that it’s a great way to keep my mind sharp. It kinda reminds me of my days in school, when we would write daily “journals” — sometimes, you could get on a roll and crank out a great journal entry…other days, it was hard to even get anything coherent together.
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September
27
2010
In light of two recent murders of real estate agents in my area of Northeast Ohio, I wanted to remind all agents out there to use extra caution when showing your homes. Below is the article from www.ohio.com. Please be safe!
Ohio realty agents wary after 2 killings, robbery
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