I just found out the broker that did the BPO on one of my short sale listings (bank is Chase/Wachovia) is not a member of the MLS where the property is located. In fact I've never known him to do business in my area (he's about 45 miles away) and isn't even a full-time or part-time agent in his own area. The 3d party company that hired him to do the BPO states specifically "Do not accept this BPO if you are not a member of the MLS." But the broker did. What would you do: wait and see what happens, notify the 3d party company, notify Chase or....?

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Comment by Ana Victoria Malavet on December 27, 2011 at 9:14am

Ok Sorry you are in California I am in Florida. In Florida you do not need to be a member of a Board to become part of the MLS System. In other way if I were you I will contact the negotiator and send them the last three comparables sold in the last six months and three actives and request them to do a new BPO if you send it with a cover with this example; becuase I know you been working very hard in this file I will like to see if there  is no problem to request a new BPO do to the fact the Agent that went to the property was not knowledge in the area were the subject property is located and I will like to see that this deal go through after all your hard work, if you need to ask any question or concern about the neighborhood area please do not hesitate to contact me I will be honor to be part or your hard work.

Just something like that and they will order another BPO, they are aware that sometimes third party vendors have a chance of mistakes. They work around 250 file per moths and they love when somebody care about their work. Focus in the negoatiator with a new bpo no the last agent that was wrong. Good Luck!!

Comment by Katherine Muhs on December 27, 2011 at 8:15am

Thanks Ana. However, our MLS rules are clear: unless a broker is a Board member, or at least an MLS only dues-paying member, they are not allowed access to the database. (I'm in Cal.). My concerns are: 1) the BPO company that hired him only wants BPOs from members of the appropriate MLSs for very good reason, and more importantly 2) he is not familiar with our market so wouldn't be able to correctly identify true comps. Plus  3) he didn't know a thing about the condo complex (i.e. pending litigation matters, amenities, what the HOA dues include, etc.) He even went to the wrong door because he had no idea the door numbers and legal unit numbers at this particular complex don't correlate!

Comment by Ana Victoria Malavet on December 27, 2011 at 8:01am

You need to be sure if is not member of the MLS or not member of any Florida Association of Realtors. Is a big difference a member of the MLS do not need to be member of the association just to paid the MLS dues. Sometimes people tend to think that you need to become member of a board to have MLS access. Also you can get comparables direct from county were the subject proprty is located not necerely MLS. Hope this will help.

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