Yes, that is crazy, BPO agents are so off !

I agree with the BPOs,    most of  the banks that send agents to do BPOs are unexperienced on the local area's.   I have a listing that it's been sitting there and not even a fly stops to smell or look into the property,   it's so over priced.   I have been negotiating with the lenders and explaning to them that this home is over price and to send us a Local Agent to do the BPO,  they have sent someone from way out in Alpine and the property is in Vista.   WOW,,, that is crazy!    I called the lenders and explained why this home is still sitting and they don't want to budge in or want me to lower the price, and there's another sale date coming up..  I guess like it or not, I will have to lower the price to see if seller can get activity before the sale date..  I don't understand why they rather foreclose and keep these homes,, what's up with them?   BAC  please consider...

 

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Permalink Reply by Melba Diaz on October 19, 2011 at 10:55am

I did,  I mean I do,,  I make sure and take them off as soon as we submit the paper work or when i know that they are going to do an appraisal or bpo.. thanks   

Permalink Reply by Robert Aldana on October 17, 2011 at 7:22am

You should know that I spoke to a Chase BPO agent who advised me that they are being instructed to NOT use other short sale or REO listings and sales as comps. Why? I have NO idea. But the BPO agent was bothered and told me herself that she thought this was unfair and not bringing in true market value.

 

Just an FYI.

 

Robert Aldana

RobertAldana.com

Permalink Reply by Jeff Payne on October 17, 2011 at 7:44am

Robert, that is the problem for sure.  I have done plenty of Chase BPOs, I stopped doing them recently for a few reasons...

The Chase BPO agent who told you that is part of the problem.  I always used REO and Short sale comparables and made sure they understood why I was using them. The easy thing is to not use them and churn out report after inaccurate report.  The hard thing is to explain on each and every comp why it was a distressed comp and most BPO agents wont do anymore than they need to do just to get $40.

I have a list for those agents :)

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