Hi! I was just curious if any of you also do BPOs and if you are comfortable sharing, what company you do them through? I've heard both good and bad things but I was thinking about looking in to doing a few, depending on area/pay...
Thanks!
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Evalonline = Evaluation Solutions = ES Appraisals = BAD NEWS!! It is a sweat shop outfit, generally placing BPOs and PreForeclosure Appraisal orders. NO---They don't pay on time if at all. They will find every reason NOT to pay. While masquerading as a NEW AMC, ES Appraisals or ES Solutions, they solicited me to do a drive-by appraisal; I was skeptical, and said they sounded like that scummy outfit "Evalonline". "Oh no, we are a different division; we always pay our appraisers within 2 wks!" Anyhow, should have listened to my little voice. Went to the property, found it in a guard-gated community & I was not permitted access. So I shot a photo of the guard gated entrance, contacted ES Appraisals & declined the assignment due to not being able to get through the gate. They said no problem, do the appraisal anyhow without the address photo, or front & rear photos. Reluctantly, I did the drive-by appraisal, which was complex in this multi-million dollar neighborhood of retail, foreclosure & short sales. Turned it in. Got a request back to get a live photo of address, street sign, front photo etc. Told them they said to do the appraisal without that due to guard gated entrance, and based on THEIR instructions to do the appraisal without those photos, I had completed the assignment. They eventually sent me an email saying that they had not received the appraisal & therefore were not going to pay me. Liars. I contacted them back & told them I'm suing them in small claims court b/c I kept a copy of all the correspondence & had proof they did receive the appraisal. Long story short, these are scam artists and scumbags & should be avoided at all costs. They are now calling themselves by new names, but you can tell it is the same Florida outfit because you can hear the boiler-room noise in the background. These assignments are ALWAYS for CHASE as far as I can tell. Don't be a sucker; just say NO!!!!
I recommend doing BPO's for Servicelink and Powerlink. They pay quickly.
Keep in mind fees for BPO work are negotiable. Accept BPO work at a price that makes it worth it for you.
A few thoughts ...
But one of my coworkers has done some for another company and they pay her within 2 weeks. So I would check the company out first.
Stay clear of IAS (Integrated Asset Services). They currently owe me thousands of dollars in BPO money that they keep promising to pay me for but do not. I have money owed on BPO's from May still.
Personal opinion on BPO's. They give me a nice little check(when I get it) for extras, but I only take them when I am not so busy with the important stuff and do them at night when I can't be making calls etc. It really does help keep up with what is going on in the market.
Clrea Capitol has been a good one but very hard to get BPO's from. Whoever you decide to work for, make sure you google them first for complaints!
Amy, I just got a suprise in the mail from IAS, the remainder of what they owed me from nearly a year ago
So I guess there is hope yet!! They used to be so good with payments. I imagine they are probably getting flack from the newbies they brought in about not getting paid and are finally paying some of us hoping we will take them again when they quit for nonpayment..
Hopefully I get it before Christmas!
Update on IAS , they paid a bit but still owe me $1410 in payments from May 2011 to September 2011. They have continually promised to pay and do not. i filed a complaint with the Better Business Bureau today. I think they have had some staffing changes also because I had a new name try to assign me a BPO yesterday. I politely replied back that i cannot do BPO's when so much is still owed to me!
My personal opinion only. I've done a number of BPO's for different vendors. In my area, typically they pat from $40.00 for drive by's to $80-$100, for interior and rush orders. Just not worth it, if you want to do a good job. I did get some REO listings out of this, but they were also problematic with a lot of additional responsibilities and low commissions, so it's just not what I want to do. I can do better elsewhere. I do recommend doing at least a few BPO's as it gives one a really good feel for how the process works.
I have done TONS and TONS of BPOS, the reason I did them was to get REO assignments so now I only do them for companies that can give me REO. I used to do them for IAS until they decided to quit paying and started making it impossible to get reimbursed. I now believe that BPOs are a waste of time unless you can get paid several hundred dollars per BPO because $30 to $40 per BPO is taking you away from real dollar productive activity which is listing and selling real estate.
Jeff, I agree with you 100% but think about the agents who don't know how to work with buyers or sellers, the ones that are not good with people but are good with computers.
I will give you an example, I used to do one before I went to bed almost every night. It used to pay $ 60-150 depend what company or the distance. I made my gas money and I learned so much about the REO industry. Six years later I sell way over 50 homes/ year in REO, and I have a team of 10 agents that do the BPO's for us. We work as a team and the income is phenomenal. I'm not saying BPO's are the best but it sure pays the gas and all our expenses. We divide the territory to be more efficient and enjoy doing them. We know what property will be available soon and we know that BPO's will come second on our real estate career. We concentrate on getting all other tasks done during the day and at the end of the day or first thing in the morning we take the pictures and late at night we do the input. Works for us but it took two years to perfect what we have now. It cant be for everyone but if you like doing it; why not?? I have agents who don't want to handle any clients, they only work on BPO's. They work from home and we keep in touch via Skype on our phones. They love the pajama comfort and they would not change unless we don't get any more BPO orders.
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