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Rainmaker
1,844,271
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Why don't you pay more?

Nov 04, 2016 05:19 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

John Peak A lender's way to circumvent the appraisal process and minimize their costs.

Nov 04, 2016 05:00 AM
Rainmaker
679,404
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I give all my BPO's to an agent in my office to support his ministry.  He is happy for every BPO he gets.

Nov 04, 2016 12:21 PM
Rainmaker
4,272,548
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have done several BPOs over the years, many for the same company, none have given a listing and do not pay minimum wage for my time, fuel, mileage or experience but have stiff time lines. 

Nov 04, 2016 06:12 AM
Rainer
22,557
John Peak
Get Your FREE BPO Company List - Adelaide, WA

I've been paid from $40 up to $200 per bpo depeding on distance.  This business is about volume.  I can totally see how agents don't get to the volume because of the low amount of money on that first bpo

Nov 04, 2016 04:27 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Corinne Guest, Managing Broker nailed this one. 

Nov 05, 2016 03:34 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Michael Setunsky nailed this one!

Nov 04, 2016 11:37 PM
Rainmaker
1,239,801
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Why you charge $120-150 for a BPO and the broker did all the work does not get his fair of share?

Nov 04, 2016 01:08 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

 How much does the BPO company get paid for finding an agent to do the BPO? What is the markup from the agent's fee of let's say $50 to what the company gets paid?

Nov 04, 2016 12:46 PM
Rainmaker
900,128
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I chose not to do them - low pay for a good amount of work; high safety risk.

Nov 04, 2016 12:19 PM
Ambassador
2,684,009
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Are they still relevant?

Nov 04, 2016 11:57 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

How can they be so far off.   I dealt with many properties that had a BPO and most were no where close

Nov 04, 2016 11:16 AM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Why ordering BPO some lenders still rely on zestimate? 

Nov 04, 2016 10:11 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

On average I complete 2-4 BPO's a day every day here in NH. Being the first of the month it is common to get 10 plus orders. My top question is in this day and age, why agents are listing short sales at half of market value thinking they can get them approved. I appreciate the bpo fee but such a waste of time for the buyer, seller and bank John Peak 

Nov 04, 2016 09:58 AM
Rainer
45,957
Andy Madrid
Hawaii Coast Realty, LLC - Kailua-Kona, HI
Expertise, Professionalism, and Service

Lyn Sims has this one.  I use to do them but the company would never pay within any reasonable timeframe.  Then the last two I did for them they never paid.  They still call and email me asking me to do them and I keep going back to the same thing - pay me for the ones I have done and pay more.

Nov 04, 2016 06:53 AM
Rainmaker
1,052,196
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Lyn Sims  got this one. I have done many many BPO/BOVs. The true value to the agent is gaining market knowledge and sharpening skills - because even when you've got it down to a science, they're time-consuming relative to compensation.

Agents would use their time more wisely marketing themselves to earn sales and leasing commissions.

CRE BOVs are an exception and you will have more opportunity to negotiate a fee that is worth your time, energy and skillset.

Nov 04, 2016 06:23 AM
Ambassador
5,048,883
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Haven't done them for a long time. See Lyn Sims ' question

Nov 04, 2016 06:18 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Are they still, as they did during the bust, awarding the BPO job to the lowest bidder?

Nov 04, 2016 04:42 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't have any questions about BPO's.  

Nov 04, 2016 04:30 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Is it worth the time to do it for what they pay you?

Nov 04, 2016 04:24 AM
Ambassador
6,393,154
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Never had a question about them, but it does make me wonder why they call them "Broker" opinions when most are conducted by sales agents at desperation prices.

Nov 06, 2016 11:24 AM
Rainmaker
5,868,472
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We do not see many around here, as the bank foreclosures have dried up.

Nov 06, 2016 07:56 AM
Ambassador
5,229,945
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Why don't you sign my listing agreement before I do the BPO for you at less than minimum wage?!!

Nov 05, 2016 11:40 AM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Why did they have me do them for 10 years and not use me during the recession?

Nov 05, 2016 11:21 AM
Rainmaker
4,572,117
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I don't think I have been asked to complete a Broker Price Opinion in over ten...maybe more...years.   It's nothing I pursue but I did enjoy reading the responses.   

Corinne Guest, Managing Broker has an excellent question.

Nov 05, 2016 04:56 AM
Rainmaker
466,695
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

John Peak,

Have you seen the interior of the home or just drove by?

Nov 05, 2016 03:48 AM
Rainmaker
1,446,751
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

BPO's are time-consuming and don't pay well enough, or soon enough, for me to make them a part of my business.

Nov 05, 2016 03:31 AM
Rainmaker
5,005,586
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I don't have questions about BPO..are they still even done anymore?

Nov 05, 2016 03:12 AM
Rainmaker
7,835,407
Roy Kelley
Retired - Gaithersburg, MD

Why have they failed to pay for the BPO?

Nov 05, 2016 02:02 AM
Rainmaker
1,617,916
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

What can I sell the home for?

Nov 05, 2016 01:16 AM
Rainmaker
5,216,381
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I like Lyn Sims answer. No further comment!

Nov 04, 2016 11:29 PM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

why bother doing them....that time could be devoted to more productive opportunities....I did my fair share of them in the past, and it was not profitable...

Nov 04, 2016 09:30 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I think Lyn Sims has the answer!

Nov 04, 2016 08:59 PM
Rainer
3,775
Cynthia Delorie-Rohrbach
Rohrbach Real Estate Company - Lancaster, PA
Residential Sales in Lancaster

Do I have to have a broker's license in order to perform this opinion?

Nov 04, 2016 07:56 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

I don't have any questions as they do not apply in our great land.

Nov 04, 2016 04:34 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John Peak - What do you think a good Real Estate Professional make per hour?

Nov 04, 2016 04:25 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have done hundreds of these and have no questions. I got where I could do the paperwork part in about 15 minutes.

Nov 04, 2016 01:04 PM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

BPO can only be done by licensed appraiser in PA.

Nov 04, 2016 10:46 AM
Rainmaker
4,160,356
John Pusa
Glendale, CA

John Peak Some BPO companies pay low. 

Nov 04, 2016 08:41 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Don't have any.

Nov 04, 2016 05:39 AM
Rainmaker
2,781,153
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

what is the market doing is my focus at this time

Nov 04, 2016 05:26 AM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

No questions

Nov 04, 2016 05:11 AM
Rainmaker
2,182,502
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Must one be a certified appraiser in your state to do one ?

Nov 04, 2016 04:55 AM