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REO/BPO and Foreclosures Real Estate Owned and Broker Priced Opinion topics, as well as discussions on foreclosures and how to make the most of this aspect of the real esate market.

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Old 04-16-2008, 01:53 PM
RealtorKenneth RealtorKenneth is offline
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Default Re: Do you split your BPO fee with your company??

Also, the possibility of getting the listings is probably not even 1%.

Many of the companies ordering the BPO's already have a system of agents they use for REO listings.
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Old 04-16-2008, 02:18 PM
Pinehurst Real Estate Guy Pinehurst Real Estate Guy is offline
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Default Re: Do you split your BPO fee with your company??

Quote:
Originally Posted by RealtorKenneth View Post
Looks like I am alone here, but I totally disagree with any companies charging an agent to do BPO's.

Unless they are paying you the gas mileage to do them.

I won't ever work for a company who requires me to pay them for the work that I do.

They are my sponser, but they only have a right to split your commission, they aren't doing crap for you to do BPOs.

There are other real estate companies out there that don't charge you to do BPO's, so go with one of them.
1. Your broker is intimately responsible for your work.
2. You're under the Broker's supervision.
3. You're covered under the Broker's E&O.
4. If you even get in a car accident while performing a BPO, your Broker can be sued too.
5. Your Broker's office provides you with more credibility then when you're on your own.

Just like you, the Broker doesn't need anyone with an attitude and unwilling to see their liability ~ so when you say wouldn't work for them, they are probably in agreement with you.

BPO's are tough, probably 10% of the agents that do them get 80% of the work, REO isn't something that most offices are not setup to handle and do a good job at it, but when you're on the outside of these very secretive specialties...it looks so easy and profitable....heck anyone can do them ....

Good Luck.....
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Last edited by Pinehurst Real Estate Guy : 04-16-2008 at 02:19 PM. Reason: 're
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