As a Realtor, how do you feel about writing a BPO. Is it worth the time?

Asked by Audrey Will, Castle Rock, CO Wed Nov 13, 2013

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5
Les Van Vleet…, Agent, Littleton, CO
Thu Nov 14, 2013
BEST ANSWER
BPO's are great if you work them right. You have to look at a BIGGER Picture. I'll do them all day long!
Think of it this way, you are getting paid to meet new people. How? You need to address the property one way or the other either in person or via internet. Do the initial BPO, then take that info and send it out to the neighbors or drop it off. Make sure it has the Banks letter head and of course Your Letter head on it. WHY? This shows that the Bank treat you as THE EXPERT and that the neighbors should too, why else would a bank hire you. Send it out to the neighbors 3 to 5 times. With each time pushing your business (marketing yourself as the neighborhood expert).
Like Annette says You have to TELL people you are the expert. A BPO can help you back that up.
Addressing Jim's response. If you think about it there is a lot of "wasted time" spent in Real Estate.

It's how you work your time, the information that you gather and what you want to do with it.

I'll do BPO's all day long. It gets me into neighborhoods that I might not have thought about.
2 votes
I have done a lot of BPO's and they definitely helped to pay the bills when times were slow but your advice on using them to market yourself is an excellent idea. Thanks.
Flag Wed Dec 4, 2013
Les, most deserving of Best Answer.
Ingenious in leveraging such an opportunity. Working the second and third ripples that results from activity is essential.
Flag Fri Nov 15, 2013
Good answer!
Flag Thu Nov 14, 2013
Annette Law…, Agent, Palm Harbor, FL
Thu Nov 14, 2013
Audrey,
What else could you be doing that could result in growth in your businesss?
If you have no clue, then BPOs are for you.
Make sure you really understand the compensation and the commitment regarding WHEN you will be paid. A quick querry on Trulia should prove revealing.
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Your time may be better spent going to a mountain top in Casle Rock and spend some quality time. Visualize the VALUE you bring to home owner and buyers in Colorado. Strip this image of any encumberagnces of real estate jargon, purge it of reference to fees, training or other such nonsence that comes with the territory of real estate professional you choose voluntarily.
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Your value is summerized in the only four things people will buy. If you have more than that, you need to return to the mountain top.
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Now, instead of chasing the deminishing return of BPOs, rescue home owner and buyers from the quacmire of 'realestateese' in which they are submerged, and deliver the VALUE they need. They don't know the value your represent unless YOU TELL THEM.
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Focus on your business. If you want to diverisify your income, use your exceptional writing and communication skills by becoming a Amazon affiliate. You will make lots more $$$$, enhance your skills, contruct a authorative platform, and not get jerked around. You don't know it yet, but the seqway into real estate from that platform is ingenious.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
Move to the Front of the Line
(http://FirstLookHomes.us)
1 vote
Jim Garcia -…, Agent, Englewood, CO
Thu Nov 14, 2013
Personally, I don't think it's worth the time for the money they pay you, if they decide to cut you a check at all. There are better things you could do to set yourself up for better paychecks down the road. I have done a few for various banks with the understanding that I would get the listing. Nothing ever materialized after a number of BPOs with various banks. Usually the person requesting the BPO at a bank has no connection with the department vetted with getting a property listed. Waste of time unless you really need $35-$50 paychecks.
1 vote
Phil Rotondo, Agent, Melbourne, FL
Thu Nov 14, 2013
If you have nothing else better going on and you like to eat, then it's worth the time.
1 vote
Robert McGui…, Agent, Denver, CO
Sat Nov 16, 2013
Audrey,

Good question. I have stayed away from them so as not to get distracted from my real goals and purpose. But the good answer below may make me rethink it especially if I happen to have a lull in business this winter.

Robert McGuire ASR
Broker/Consultant
Your Castle Real Estate
Direct - 303-669-1246
http://about.me/robertmcguire33
0 votes
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