Hi there,
I am new to this site and I am very interested in doing BPO's any and all advice is greatly appreciated!
Here's a little info. about me. I have been in Real Estate Sales for about 6 yrs. and started originating loans for the past year. I live in the Coachella Valley (Palm Springs) and the market out here, as I'm quite sure many of yours as well, is just saturated with listings, new homes and loan officers. I have to find a way to supplement my income and ride the tide until the market turns. So I've become extremely interested in doing BPO's. My experience in the R.E. market has helped me greatly when working with appraisers to come up with a value for refi's.
So what I'd like to know is how to get started. How does the fact that I am a licensee working under a broker's license come in to play as far as getting paid for BPO's? Any tips on testing the water to find out if my area is saturated with agent's providing this service for banks and investor's.
Thank you so much in advance!
Lisa[/size][/font]

There are many companies. I'll list some. When I was looking, I Googled certain search topics such as REO, BPO, Broker Price Opinion, etc., I had to weed through a lot of sites. I applied at every one I found and heard back from many but not all.

Some are:

Greenlink, Lighthouse, Dispo, Nationwide, National BPO, First American, emortgagelogic.com. That's enough to get you started. Look those up and start applying. If they need realtors in your area, you'll hear from them right away. If your area is saturated with realtors that they have on file, you might not hear from them at all.

Lighhouse takes 2 months to pay. emortgagelogic is wonderful...just 2 weeks and you get your check. I LOVE them. If only they sent me more jobs. The rest generally take about 30 days to pay.

As for the woman in St. Croix who gets $250/per job....God bless your abundance but around here in the States, they pay peanuts. $45-$55. $65-$85 for rush jobs, $75-$100 for interior and commercial. Maybe there are far less realtors in your area??? Ever heard the expression "a dime a dozen"? In the states realtors are like a nickel or less per dozen! When real estate was kicking a few years ago, everyone was getting in on it.

I have no trouble getting BPOs, just that I've never gotten a listing from any. Hopefully one of these days.

Best wishes to everyone on this site.

VZ

i have no trouble getting Bpos here
if i were you I would check with my broker first as far as the office policy on BPOs
If I had to split my BPO fees I would probably look around for another broker

I don't mind doing an average BPO for $50 - but if I were doing a 50/50 split - its not worth it for $25

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you usually don't have to spit it with your broker because you are not selling a house. just providing a service

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Bellingham Real Estate
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Bellingham MLS

Greenlink is longer. I wish they were, they were the best (and yes they did turn to listings). I still get the listings, but have yet to figure out where they are out-sourcing their BPO's to.

They are now called HomEq

Submit to REORedbook,com , check out DSNews.com (they're affiliated)
There are others, I just can't remember their name right now.

Good Luck!

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Just start applying to as many companies as you can. I found so many its crazy.