Jason Crump,…, Real Estate Pro in San Diego, CA

How do I get BPO work with no BPO experience?

Asked by Jason Crump, J.D., San Diego, CA Mon Feb 21, 2011

I asked a question similar to this a few weeks ago and two RE agents recommended REO prep.com and Equator. Both of these sites require a fee for each zip code you would like to cover. Is this the best way to get some BPO work?

I am already signed up with many BPO/REO companies, but have not received any jobs. Can anyone offer some direction?

Thank you!

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Answers

16
Joan... Are you getting paid for your work by evaluation solutions? It took me over 6 months to get paid, after beggng and begging and with no contact person to talk to. I had to threaten them with a call from my attorney to get paid. This information is on reopro.com. Check out who is doing good business practices. I don't do any work for eval anymore.
Jason, my suggestion is to go to reopro.com and sign up with every BPO company you can from that site. It is free, and so are the BPO companies listed. If they charge money you can look up comments from other agents to see if it's worth it.
Birgit
1 vote Thank Flag Link Tue Feb 22, 2011
Hello Jason,

I asked a simliar question a couple of months ago on AR. (Disclaimer) I have limited experience in this area of BPO's, and since that time I have done roughly 15 BPOs. I have seen some BPO certification training but I am not too familar with them. I have list of BPO companies I can send such as http://www.mainstreetval.com . You can sign up for free. Most sites will provided a online training prior to assigning you BPOs to do. Personally, I do not like Equator for BPOs, because it is sent out to the masses, and they assign it to however signs up first in the particular area of the BPO I am talking one or two minutes upon notification it is assigned.

The first couple you do will take a little longer then you probably hope to spend on them but once you get the hang of it they can be done quickly. There are computer programs out there that you can use to make it faster but it is a financial investment.
1 vote Thank Flag Link Tue Feb 22, 2011
Good Morning Jason... If you are serious about BPO's, then there are companies that train and certify you. The link is attached below. This does cost money, however is mandatory in the business today, especially for an agent with no experience. I have been doing BPO's since 1999 in two states and have listed many REO properties. It is a little different today, and a much tougher market to break into. If you go to reopro.com there is a list of hundreds of BPO companies. They are rated for professionalism, and quality of service to the agents. Someone mentioned ocwen bank. They have their own training. The cost used to be free the first year you signed up with them. They were not my favorite to work with, but anything is good to gain some experience. I don't pay to do BPO's. There are many new companies that claim they are getting tons of assets so you will join. Again, reo-pro is a helpful site in monitoring who is good and who is questionable. There are forums of agents who share their experience. You can make money providing BPO's, maybe not at first, but these can lead to other things. It has for me. Good luck!
Birgit Anglin
Coldwell Banker
1 vote Thank Flag Link Tue Feb 22, 2011
Jason: Research any company that asks for a fee extremely carefully. I would not pay a fee and am very skeptical of upfront fees for anything in regards to Real Estate advertising, reo's or bpo's.

These two do not charge and one agent on Activerain that does many bpo's says this one is good: http://www.clearcapital.com/products/bpo.cfm

The other one is: http://crosscountrybpos.com/default.aspx

Let me know how this works out for you.

There are many avenues for practicing real estate and but the area of Real Estate Rentals, is not for everyone either! :)

~~~~~
1 vote Thank Flag Link Tue Feb 22, 2011
Hi I am not a licensed but i do BPO for many real estate agents. You can contact me to do your orders in different companies if you want. For as low as $7 per order.
Flag Sat May 3, 2014
Hi Jason,

This is probably not the advice you are looking for, but why do you want to do BPOs? The compensation is lousy and it's a lot of work. REO Listings are also often more trouble than they are worth with the Realtor expected to be not just listing agent but property manager, to put money out of their own pocket up front and then wait to be reimbursed. Same with some BPO companies. I've waited months to get my measly $50 from some of them for what turned out to be three or four or even five hours of work. Look, I am worth more than the average fast food restaurant worker, and so are you. When they say the banks hire "Burger King Kids" to do their loss mitigation business, well, that's an insult to Burger King, 'cause I think Burger King pays better! I just don't understand the frenzy to get into bed with the banks. You know what they say, when you lie down with dogs, you wake up with fleas. Well...

Have you considered other avenues of quick real estate revenue? I don't know how the rental market is in California but here in New Jersey it's booming. Of course all commissions are negotiable, but I can tell you that here, it's not unusual for the commission on a single family home rental to be equal to one month's rent (split between landlord's and tenant's agent) or 10% of the lease. And high end renters are paying $3000 per month or more. $1500, while small compared to a purchase or sale, is still way more than the $50 I would get from a bank for doing a BPO and takes about the same amount of time. And guess what, I don't have to lie down with dogs to get paid!

Food for thought. You may want to try Ocwan.

Good Luck.
1 vote Thank Flag Link Tue Feb 22, 2011
Thank you and I agree with your acessment even though I have not done them on a consistent basis but I am looking for a way to supplement my current income. I am in Ohio.
Flag Thu Oct 24, 2013
I WANT TO BPO WORKS (experians in bpo data entry).....

plaese sent the orders this email:- chrk207@gmail.com

charges cost can be discount them............................hurry to the contact to me


i asked a question similar to this a few weeks ago and two RE agents recommended REO prep.com and Equator. Both of these sites require a fee for each zip code you would like to cover. Is this the best way to get some BPO work?

I am already signed up with many BPO/REO companies, but have not received any jobs. Can anyone offer some direction?

Thank you!
0 votes Thank Flag Link Thu Jun 26, 2014
I wouldn't recommend paying to get on a list or these sites where you advertise yourself. You can basically register for the companies and you will eventually get the orders. As long as you are licensed, have the insurance and are quick, you can get orders. It takes a ton of time to register with a bunch of companies but the work pays off. You can get a free list of BPO Companies here http://www.bpoforms.com/blog/how-to-complete-a-bpo and I would recommend putting in the time to register with them. You ultimately will decide who you want to work with (Easy ones, Not picky, etc) and once you have refined your skill you can make a nice supplemental income. Don't be intimidated by not having experience, just register with the sites. They care less about your experience and more about the quality of your work and your turnaround speed.
0 votes Thank Flag Link Sun Mar 23, 2014
Start out with getting the BPOR Designation, once that completed there are possibilities to get BPO's assigned through them.
0 votes Thank Flag Link Thu Oct 31, 2013
I have done a few short sales and was requested to do BPOs for a couple of them. I responded by inquiring whether or not I would receive separate payment and was paid.
0 votes Thank Flag Link Thu Oct 24, 2013
Do you need insurance to do BPOs. If yes what kind
0 votes Thank Flag Link Thu Aug 22, 2013
http://www.crosscountrybpos.com/

Every day there are thousands of requests from financial institutions, investors, asset managers & BPO/REO companies for Broker Priced Opinions across the USA. They need Realtors who are dependable and accurate to complete these BPO's requests. In many areas of the country these companies lack coverage, so orders go unfilled.

Our relationships with these companies, places us in a distinctive position to aid Realtors in becoming successful in the BPO market niche.

We save you, the Realtor, precious time with the tedious process of numerous registrations, help to facilitate a consistent flow of orders to augment your income, working side by side with the you through the BPO order process, & troubleshooting any issues connected with an order.

Our coordinators help you reach Preferred status so you can benefit from being on a "first-right-of-refusal" rather than "first come/first serve" basis with orders. Additional opportunities become available for the Realtor that achieves this Preferred status, such as, it can place you in the position to receive REO listings.

CrossCountryBPOS will go all out to bring success in this aspect of your business.

Partnering with CrossCountryBPOS gives you an added balance to your busy real estate schedule.

Visit CrossCountryBPOS on Facebook for news and updates in Real Estate.
0 votes Thank Flag Link Wed May 23, 2012
Sorry about my horrible grammer.
Flag Wed Apr 30, 2014
I have a question, Do you have to be a broker to be a BPO agent? If you a sales agent don't you have to split the fees with the broker?
Flag Wed Apr 30, 2014
So we have a BPO agent doing BPO work with admittedly little experience and another agent looking to do BPOs with no experience. Perhaps this is why the BPOs that come in on distressed properties (especially short sales) are such jokes?
0 votes Thank Flag Link Tue Jun 14, 2011
Wisconsin people can be so negative. Your comment was rude and unnecessary. We all have to start somewhere.
Flag Sun Dec 8, 2013
Do you really want BPO work? It pays miserably.
0 votes Thank Flag Link Tue Jun 14, 2011
It only pays miserably if you allow the companies to give you peanuts for your work. Don't accept lowball pay for you time.
Flag Thu Jan 23, 2014
The reason why it pays miserably is because if you're doing just one or a few the numbers won't add up. However, if you manage to get a bulk order of BPOs in your area then like some agents you'll be able to make a decent living off BPOs. Yeah it's a bit slow at first. But give it time you'll see it'll be worth it. Also if I recall I think that AZ a non-disclosure state? That might be another reason why it's so hard to get BPO work.
Flag Thu Nov 7, 2013
Good Morning... in order to be a BPO Broker, do you have to have your Errors and Omission Insurance?
0 votes Thank Flag Link Tue Jun 14, 2011
Why don't you try Titanium. They cost $100.00 to go through their training, but you will get enough work...to pay for the training. There are better ways to make money though. Mostly, you don't get enough to make money, just enough to run you out of your way. Evaluation Solutions is always sending me PBO's. evalonline.net

Good luck,

Joan Wilson (Realtor, SRES, Ecobroker, Certified REO, HAFA, and Short Sale Specialist)

Prudential California Realty
Direct Phone: 760-757-3468
800-975-7481 x 111
Fax: 760-946-7894
JoanWilson@prusd.com
License # 01341483

Blog: http://JoanWilsonRealtor.com
0 votes Thank Flag Link Tue Feb 22, 2011
I agree with both Jane and Suzanne. I would NOT pay any fees for any sites, period. They are a mountain of work for little pay and yes, there is a lot of the work now but it will not always be that way.

Another idea is focus on what you want to be, listing agent, buyers agent? And start aggressively marketing yourself. There are a lot of ideas out there, many do not cost much and think in the end, you will be more successful than putting all your eggs in the BPO basket.
Best of luck.
Spirit
0 votes Thank Flag Link Tue Feb 22, 2011
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