What is your opion on BPO'S?

Asked by Claudia Gonzalez, Davie, FL Wed Mar 24, 2010

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Kevin Olson,…, Agent, Colorado Springs, CO
Wed Sep 15, 2010
BPOs have been done wrong for years, and still are. But look at this as an opportunity for you. Get in there, do a quality job, and they will keep coming. They are not complicated to do, and a great source of income. BPO Companies are finally starting to pay attention to quality more than anything, and that has really turned things around. Yes, BPOs can be wrong, but if appraisers were consistent BPOs never would have had a chance of getting to the point they are now. There are lots of appraisers doing BPOs, so Brokers/Realtors aren't totally to blame. Some of these BPO companies have such rediculous rules that it raises the question of should these companies be more regulated? Some say you need a larger home, a smaller home, and one the same size, no matter how uncomparable they are in all other aspects. An agent following this type of rule is just looking for trouble, and thus some companies need to be avoided. If you need help with BPOs Claudia you can contact us.
Web Reference:  http://www.bpoteaching.com
2 votes
Felix Hung, Agent, Huntington Beach, CA
Fri Sep 17, 2010
Great for agents who want to supplement their income. They do however disrupt your day sometimes. Especially when companies are slow.
0 votes
Dan Chase, Home Buyer, Texas City, TX
Wed Mar 24, 2010
An opinion even by a broker can be wrong. As far a I can see the bank appraisal wins and the rest is far to often very wrong.

p.s. bpo keeps getting my spellcheck wanting "bop".
0 votes
Len Montgome…, Agent, High Point, NC
Wed Mar 24, 2010
I have done several BPOs for lender's. As listing agents, we do BPOs for sellers and as buyer agents, we should be doing BPOs for our buyer clients. While i know the difference between what i do and an appraisal, it is important to know how to do them properly. Unfortunately, I find many agents do not know what they are doing and either grossly over or under value properties day in and day out.
0 votes
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