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Rainmaker
2,604,216
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Decades ago I argued with this guy with a strong accent about an issue that at some point I finally realized: They outsourced the solution too

Jan 21, 2018 05:55 PM
Rainmaker
861,990
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Oh great. And what do they use for data source? Zillow! LMFAO

Jan 21, 2018 05:35 PM
Rainmaker
3,291,824
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I have lots to say about this topic. First, banks and asset management companies that pay pennies on the dollar get exactly what they pay for. As in sales, discount bpos result in discount experience and a poor quality bpo. I complete 1-2 bpos a day every day. I get paid very well and do a great job at them. I get lots of bank owned listings for my hard work. I see many discount bpos every day, incorrect information, wrong towns even. I was offered a contract to QC some of these bpos simply on desktop, took 5 minutes and paid 20 bucks each by simply pulling the tax card and mls sheets . I found massive errors. I got double pay to correct it. On the bpo front, i wont take discount bpos they offer. Tjere are companies that have gone that route and have done away with it due to poor quality. The next trend they dont talk about is computer generated bpos. I had a contract to work on them as beta project and every one was wrong.  A REAL BPO not only shows value, but is suppose to identify if the home is vacant, occupied, damaged or needs attention. The GOOD banks then actually read the info on the bpoo and send people out to secure them homes. 

Jan 22, 2018 06:23 AM
Ambassador
4,040,963
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I had no idea but, it doesn't surprise me one bit, Buzz!

Jan 21, 2018 06:31 PM
Ambassador
5,165,043
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

It wouldnt surprise me a bit.

Jan 21, 2018 05:02 PM
Rainmaker
1,162,717
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Tough to drive by the property that way, but never did or cared about BPOs so no worries either way.

Jan 21, 2018 08:54 PM
Rainmaker
5,570,348
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

good.... they pay pennies....

Jan 21, 2018 05:28 PM
Rainmaker
3,853,033
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

A new form of Zesstimates! Wonder which ones will be more accurate.

Jan 22, 2018 03:42 AM
Rainmaker
488,928
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

There are just too many outsourcing in every field.  It makes you wonder do they pay for those people to fly over to the US and physically view the home? :)

Jan 21, 2018 09:08 PM
Ambassador
2,538,863
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      My wife's cousin is a techie in Bangalore.  That city is nicknamed, "The Silicon Valley of Asia".  They have access to the same internet data that American companies have, and their prices for BPOs and other services are very competitive. 

    

Jan 21, 2018 06:57 PM
Rainmaker
820,352
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Are they getting the needed photos from Google Street View? If they are not licensed, it's not a genuine BPO. Not worried about BPOs, they did pay well years back.

Jan 21, 2018 06:21 PM
Ambassador
2,990,756
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I did not. Why am I not surprised?

Jan 21, 2018 06:19 PM
Rainmaker
1,132,095
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Corelogic was a bpo mill division in India for years.  They have access to borrower personal information.  US has to shoot the images and they upload. They charge a few bucks per order.

 

Jan 21, 2018 05:15 PM
Rainmaker
1,231,318
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Amazing!

Jan 21, 2018 07:18 PM
Rainmaker
1,707,197
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Actually it is a sign of them using big data with learning computers, the beginning of AI. Get used to it.

Jan 21, 2018 05:42 PM
Rainmaker
818,390
Peter Mohylsky. Broker Associate
Miramar Beach - Santa Rosa Beach, FL
THE BEACH IS OPEN AND WAITING FOR YOU

Interesting stuff.

Jan 21, 2018 05:32 PM
Rainmaker
6,308,788
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for the alert.

Jan 21, 2018 05:04 PM
Rainmaker
1,355,908
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Why am I not surprised?  So much has been offshored there.  Problem is, it all comes back after costing the companies way more than they thought they'd save.  Saw it with call centers, saw it with Guitar Center's IT department, we'll see it here.  Typically 5-7 years for it to go and come back.

Jan 22, 2018 08:55 AM
Rainmaker
1,698,910
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Ohhhh, that makes so much sense.  That is preposterous

Jan 22, 2018 06:31 AM
Rainmaker
1,440,727
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Buzz Mackintosh It doesn't surprise me. Who would know our market better than someone in India?

Jan 22, 2018 06:14 AM
Rainmaker
1,372,928
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

That explains the pricing on foreclosures!

Jan 22, 2018 05:57 AM
Rainmaker
708,861
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Wonder how this works...

Jan 22, 2018 05:47 AM
Rainmaker
864,576
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I did not know that, but am not surprised.

During the final years of Bank of America's economic disaster, many BPO were being completed by those with a  very inadequate command of English. Issuspected outsourcing was inevitable when BPO were granted to the lowest bidder.

We have seen nothing yet.

Won't need India either.

Jan 22, 2018 05:47 AM
Ambassador
2,053,937
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Interesting to know. Zillow or Google photos are not necessarily current, a lot can happen to a property from the time those photos were taken. 

Jan 22, 2018 05:36 AM
Rainmaker
258,917
Lesley Wilson-VanGoethem
Innovative Realty Solutions Group - Winter Springs, FL
Residential Real Estate Broker Associate

Sad, but true..

Jan 22, 2018 05:13 AM
Rainmaker
3,069,584
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Bob Crane nailed this one!

Jan 22, 2018 05:00 AM
Rainmaker
3,830,820
Richard Weeks
Dallas, TX
REALTOR®, Broker

POTUS needs to put an end to that.

Jan 22, 2018 04:53 AM
Rainmaker
3,971,882
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Why does that not surpise me, everything else is!

Jan 22, 2018 04:42 AM
Rainmaker
2,054,136
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

TA DA. Appraisals from a local resource, BPO's that are done by someone swimming in the local real estate market. That's the way to go but not for $35 or too little compensation Buzz Mackintosh !

Jan 22, 2018 03:44 AM
Rainmaker
2,007,644
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Ocwen ???

Jan 22, 2018 03:39 AM
Rainer
213,163
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

NO but why not? I diid them for years without leaving my desk.

Jan 22, 2018 01:44 AM
Rainmaker
1,197,046
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Real Estate LLC - Coastal Living

I was not aware, but doesn’t surprise me. 

Jan 22, 2018 12:12 AM
Rainmaker
512,344
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I did not know ... but that does not surprise me.  With the internet ... you can get the information through public records easy enough.

Jan 21, 2018 10:40 PM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Buzz Mackintosh - so they will have the valuation in Indian Rupees.... lol!

Jan 21, 2018 09:39 PM
Ambassador
4,461,046
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Didn't know but no surprise.

Jan 21, 2018 08:33 PM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

With Google Earth and so many tax services online, I heard they started doing this. I bet the companies can get it done really inexpensively.

Jan 21, 2018 06:38 PM
Rainmaker
4,682,034
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I did not know, and thinking we are not seeing many around Denver.

Jan 25, 2018 05:16 AM
Rainer
138,995
Anthony Kirlew
Group 46:10 Network @ eXp Realty - Gilbert, AZ
Helping You Make Fiscally Sound Choices

That's disappointing.

Jan 23, 2018 08:51 PM
Rainmaker
3,784,677
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

But figure jobs are to stay in our country.

 

Jan 22, 2018 03:54 PM
Ambassador
3,608,835
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

 I only know one company in India that takes my POs that are assigned to me 

Jan 22, 2018 02:33 PM
Rainmaker
516,908
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I had no idea.  All local BPO's I have heard about are done by local agents.

Jan 22, 2018 01:59 PM
Rainmaker
1,087,466
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It doesn't make any sense to me although it's not surprising. Misrepresented valuations are something I won't be supporting when the crumbling begins.

Jan 22, 2018 10:00 AM
Rainmaker
1,649,749
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

    Good grief.

Jan 22, 2018 09:18 AM
Rainmaker
1,566,573
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

I still do about 8-10 a month when I have time but I am not in India so maybe that is why I don't get 100s!

Jan 22, 2018 09:09 AM
Rainmaker
3,918,561
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Not surprised. It's been years since I have completed a broker price opinion. 

Jan 22, 2018 09:08 AM
Rainmaker
5,309,046
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Buzz,

No one said those foks are smart or know what they are doing...

Jan 22, 2018 08:57 AM
Rainmaker
3,985,765
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes...I have heard of the drive by look. How can you get accurate like that

Jan 22, 2018 07:30 AM
Ambassador
417,112
Emily Medvec
eXp Realty LLC - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

Now I do!  Another reason why I refer out customers looking to purchase foreclosures. 

Jan 22, 2018 06:14 AM
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I did not, but I also don't care.

Jan 22, 2018 05:33 AM
Rainmaker
511,027
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

No, thanks for the info.  Geez.  

Jan 22, 2018 05:22 AM
Rainmaker
1,508,951
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

oh boy....

Jan 21, 2018 09:40 PM