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2018 BPO Signup List and Application Links

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...
 

2018 REO Signup List and Links to Applications

2016 List of REO signups and outsourcers provided by me, an active REO Real Estate Broker in the State of Oregon. The most common question I get among aspiring REO Real Estate Brokers are how do I start to work for Banks, how do I get REO assignments?

Through blood, sweat, and tears, I have put together a lengthy list of banks or outsourcers to sign up with to make application for REO Listing work. It is through my appreciation of how much time I can save fellow Brokers, that I share my findings. I also like the idea of helping people. If you appreciate my sharing my information, please subscribe as a VIP member on AgentLinkus.


I should tell you that my method of obtaining REO work, was purely to apply through the channels that the Outsourcer or Asset Managers have made available. I am not a person who attends conferences or takes time away from work to get work. I have literally been to zero REO conferences. First, I hate to travel, and second, I can't take time off of work. I update my application information every 6 months, and I try to learn methods in which I can get an opportunity. Quite honestly, the majority of my assignments came because a previous Listing Agent made a mistake. If you are taking your first REO Listing, please be prepared with BPO experience so you don't screw up a big opportunity. If you mess up or do not meet their deadlines, they will re-assign the listing to someone else. No forgiveness in this business. Some Real Estate Brokers complain about REO Listing Agents being terrible or non-responsive, but I promise their Asset Managers are getting top notch service from them to keep them active. Be ready to do a great job for them. This may require you to enlist a more experienced REO Agent through your first few listings, if you have someone you can trust. REO Vendor requires a lot of applications to outsourcer...
 

Definition of a Broker Price Opinoin BPO

BPO Acronym stands for Broker Price Opinion. A Broker Price Opinion can be used for a host of reasons, and is performed by a local real estate agent who is familiar with the real estate marketplace. It is not a formal appraisal. An appraisal is performed by a licensed appraiser who has done extensive training in assessing market value. A borrowers bank may pay for a Broker Price Opinion in the following situations: a. To consider a short sale offer, or to consider short selling as a whole. b. To consider a loan m...

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