BPO’s and BPO Providers
BPO’s, a great way for real estate agents to make money in today’s real estate market.This is a little off topic, but for all those real estate agents out there looking for a way to make money in the market, it is a good resource to look into. BPO’s are broker price opinions. These are like mini appraisals, often times ordered by the banks or lenders to get a quick, accurate valuation of a property. BPO’s will often give a few different values, from a 30 day quick sale value, to a longer marketing period of time.
BPO providers are looking for real estate agents today to handle the influx of bank owned properties and properties in foreclosure. For real estate agents, this is a great time to take advantage of the market and make a little bit of extra money during the downturn in the market. As an added perk, by forging relationships with the banks and companies needing these BPO’s, you can begin to pick up some of the REO listings as well.
Bank owned listings in the past have not been the most lucrative listings, but recently that has changed. Many banks today are allowing their inventories to be priced very aggressively in order to sell quickly. This has translated into multiple offers on properties in many areas, which means properties that will sell and earn you a commission.
For those of you interested in entering the BPO market place and doing the reports for these BPO’s, the main trick is finding the sources. Follow this link for information on finding the contact information for these BPO providers.
If you are a real estate agent in the market today, looking into BPO’s and obtaining REO listings is a great way to turn this down market into a profitable time. Good luck in your endeavors!
