Some Realtors make very reliable income on producing quality Broker Price Opinion Reports for various companies. Some Realtors complete them for the fee, others complete them in effort to win future REO Listings.
Broker Price Opinion work is something that many REO Realtors begin with, because it is a crucial part of being an REO Listing Agent. The people hiring you for REO listings will expect you to be fluent in producing BPO reports to them, to help them determine a listing price.
Broker Price Opinion work can be provided by BPO Mills. BPO mills are the companies that are only looking for BPO reports. They pay an agreed upon fee to the Realtor, and the report will not result in an REO listing. Most BPO Mills have no influence in hiring REO Listing Agents.
If your purpose in completing BPO orders is not for the fee, but for future REO listings, be sure to ask the BPO source if they offer REO Listings before accepting. Some of the BPO Companies that offer REO Listings ask you to complete the BPO for FREE, so be careful if your goal is only the fee.
I first completed BPO's to familiarize myself with what would be required as an REO Listing Agent. To do this, I worked for Mills, and got paid a fee to learn. Not a b...