I have this one company/ BPO agent that consistently has extremely high BPOs and is messing up all my deals. Do you have this problem? What do you do about it?
If not, what have you done to avoid this? What advice do you have for me to combat them doing my BPOs?
Thanks
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I do ask all of the agents/appraisers scheduling for a BPO or appraisal for their email and then email them a confirmation of the access to the property and include some comps. I don't really ask them if I can send them, I just do it. I also include some of the main issues with the house that have prevented people from making higher offers and I generally tell them about where the offer or offers are. I tell them what the negative feedback has been and why we have it priced where we do. I also make sure that the list price is at or below market. I have found that a higher list price influences them to go higher or around where I have it listed, even if it is priced too high at the seller's request. Also, if a property is vacant, change the listing so that they won't be aware that it is vacant and they can't just go out there without calling you. I do try to sell all of our listings for the highest price possible and don't just put in a low investor offer (unless that is all that I have).
We have one agent in particular around here where the value comes in no where near where it could possibly sell even if it wasn't a short sale. He has messed up more than one of mine in the past year and just did it on one of mine this past week. I think I am going to try to tell the bank or investor to choose someone else next time and not schedule him to go through and see if I can get the person changed. In the meantime, I will do a value dispute. Sometimes, we even have to go out on a limb and hire an appraiser for a value, especially when we are extremely sure about the value, have a good offer, and have sellers that really do have a hardship. It has always been worth the money for the appraisal.