Are BPOs still a good way to bring in an extra income? If so how do I get started?

Asked by Cody Cooper, Lubbock, TX Wed Mar 27, 2013

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Eddie Martini, Agent, Auburn, WA
Fri Mar 29, 2013
Same as looking at building an REO account you need to get signed up with Asset Management Companies. Look up BPO Companies and sign up for as many as you can. The main challenge I have with them is that they only pay $45-60. For a couple hours worth of work I can not justify my time spent on them for less then $75-100 which few companies will agree to pay.
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Cristyle Egi…, Agent, Lake Park, FL
Thu Mar 28, 2013
Depends. I know in North Carolina a lot of agents were starting to get in trouble doing BPOs because there was protocol and it wasn't always being followed. It become a big topic about a year ago for our mandatory updates.

We are having issues down in Florida now with BPOs not lining up with Appraisals and it causing issues in the market. BPOs are sometimes super high (like for REOs), Appraisals are low for what the market is doing and both are making contracts and closings harder to come by.

That being said, if it's good business in your area and a product with demand it's a good way to bring in clients and make contacts and get exposure..

Good luck!
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