Thread: 250.00 Bpo!

Funny thing happened the other day, I got a call from a company asking for a BPO. I told the girl on the phone I really didn't like to fool with BPO's and she says, "you know what a BPO is? GREAT!" I was like what? She says that I'm the fourth agent she had called and the previous three had never heard of a BPO.
She continues on and says if you can get this BPO done within 3 days, I'll give you 250 bucks. Long story short I just got the check today...finally a paycheck! haha

Nice! My first four BPO offers were drive by's and only $50-75. I can't do it for that cheap; that's actually costing me money in the long run.

Yes I agree, surprisingly enough, mine was a drive by as well. They just wanted a simple desk CMA and 3 pictures of the outside of the house. I was shocked over the 250.00, I was wondering if I would ever actually see the cash.

Clear Capital pays me 250 and 300 dollars all the time for BPO's. Kinda funny considering our local appraisers will do a full appraisal for 350. They only pay 50-75 in places where the agents aren't smart enough to hold out for more money!

Originally Posted by CedarCityRealtor

Clear Capital pays me 250 and 300 dollars all the time for BPO's. Kinda funny considering our local appraisers will do a full appraisal for 350. They only pay 50-75 in places where the agents aren't smart enough to hold out for more money!

Ah! Thanks for the tip. They actually sent me like 4 at a time and I was pretty much dissappointed. We must have someone around here doing it for that cheap.

Wow $250 for a BPO? That is pretty good. I guess when the bank couldn't find anyone that knew how to do a bpo that persuade them to shell out that much.

Jason, great your my kind of guy . Make them pay. Do not ever give your time away.....

Cedar City happy you said that. I just applied to Clear Capital for my area which is St. Croix in the U.S. Virgin Islands and I will remember what your getting paid. I have been getting $175--$195 from First American.

Many brokers are so hard up they do them $25--$75 and some for nothing because they want the listing. That is sad, very sad. It's worse than sad it is down right depressing! You can get paid well and still get the listing. NEVER NEVER GIVE AWAY YOUR TIME! YOUR EXPERTISE IS WORTH PLENTY AND THEY NEED YOU!!!

Jason and Cedar City you have renewed my faith and you have my respect. I cannot believe (and never will) what some brokers will do for next to nothing. To those that give their services away, take notice and put a value on your time and knowledge.

My very best regards from the sunny Caribbean,

Jackie

250 for a BPO. Must not be the same amount of agents in your areas. We only get 50 to $75.

I still am looking for a break in the REO Market. Any ideas??

Originally Posted by Jason Painter

Funny thing happened the other day, I got a call from a company asking for a BPO. I told the girl on the phone I really didn't like to fool with BPO's and she says, "you know what a BPO is? GREAT!" I was like what? She says that I'm the fourth agent she had called and the previous three had never heard of a BPO.
She continues on and says if you can get this BPO done within 3 days, I'll give you 250 bucks. Long story short I just got the check today...finally a paycheck! haha

Jason,
I'm in the Pennsylvania/Jersey area, can you share the name of the company was that that offered you $250 per BPO?

I'm on board with a few companies and have been doing BPOs for two years and none have ever paid that much. The most I ever got was $125 for a rush-interior inspection.

If anyone can share names of reputable companies, that would be great. One company is exceptional although only pays $50-$75 is ClearCapital. Fi-Serve is also good. I just started doing assignments for Lighthouse but it takes over 3 months to get a check from them. ClearCapital and FiServe mail out checks after 30 days.

Thanks to all who have posted helpeful info. I hope to be able to get on board with a couple better paying companies. I like the cash flow from doing these jobs as it helps during a lean month to know there will at least be a pay check at the end of the month as buyers and listings often take months to close.

Any ideas on how to get into the foreclosure market. I have been doing these cheap $50 to $75 clear capital BPOs hoping to get in.

HELP PLEASE with any ideas