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Ambassador
5,170,101
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Making a living doing it.

Mar 27, 2019 12:41 PM
Rainmaker
1,693,047
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

The hardest part is getting paid enough to do it. It's a mini appraisal with too much work involved.

Mar 27, 2019 12:22 PM
Ambassador
2,992,106
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Doing them and not getting paid.

Mar 27, 2019 12:44 PM
Rainmaker
3,863,259
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

There is nothing hard about doing a BPO. It's just time consuming and hopefully there are enough comps. 

Mar 27, 2019 01:37 PM
Rainmaker
932,438
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Comps can be difficult to find.

Mar 27, 2019 01:06 PM
Rainmaker
962,033
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I think what Scott Godzyk told you is a good answer 

Mar 28, 2019 08:04 AM
Ambassador
4,053,469
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Finding the comparables for a unique property - similar to a CMA.

Mar 27, 2019 07:59 PM
Rainmaker
1,704,225
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Gathering and putting all the information together. Very time consuming. 

Mar 27, 2019 07:24 PM
Rainmaker
1,825,755
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Finding good comparables can be a trick kennith Frazier especially if it's a rural property.

Mar 27, 2019 06:04 PM
Rainer
300,861
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Doing the work of an appraiser but getting paid alot less

Mar 27, 2019 05:18 PM
Rainmaker
3,978,621
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Getting it right and getting paid for your time!

Mar 27, 2019 04:09 PM
Rainmaker
862,938
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

BPOS are wonderful for new agents who need to learn the market and sharpen their CMA skills.

They're too labor-intensive relative to the pay once you start selling real estate. However, many agents do acquire bank-owned listings that way.

Mar 27, 2019 03:39 PM
Rainmaker
861,324
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Sometimes the hardest part is finding good comps. 

Mar 27, 2019 02:48 PM
Rainmaker
3,836,668
Richard Weeks
Dallas, TX
REALTOR®, Broker

Finding good comps and making adjustments to those comps.

Mar 27, 2019 01:59 PM
Rainmaker
3,293,172
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I made a great living off bpos. It is an art and way of life for REO agents. First is knowing who to accept work from, how much to get paid and what is expected from you. Next you have to know the neighborhood, know comps and know what to adjust when there are differences in those comps. There are a couple of companies who do not pay so always google the bpo company plus the word complaint to see what other agents say. 

Mar 28, 2019 05:24 AM
Ambassador
3,612,612
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Getting assigned and paid; the rest is a piece of cake...

Mar 27, 2019 09:33 PM
Rainmaker
1,356,783
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Like others have said, getting paid for it.

Mar 27, 2019 08:44 PM
Rainmaker
5,570,474
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

sometimes, it's getting paid!!!!!!!!!!!

Mar 27, 2019 02:35 PM
Rainmaker
5,318,727
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

You have the answer from everyone here.  A

Mar 27, 2019 02:33 PM
Rainmaker
6,317,179
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Having comprehensive knowledge of the local market area. 

Mar 27, 2019 01:53 PM
Rainmaker
1,620,947
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

As Bob Crane wrote and getting paid from low-life BPO companies

Mar 28, 2019 08:54 AM
Rainmaker
1,652,406
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

Finding the "right" comps.  Not a problem in subdivision style neighborhoods. Much more difficult in rural areas.

Mar 28, 2019 08:05 AM
Rainmaker
804,127
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Not having access to the interior of the property.

Mar 28, 2019 06:59 AM
Rainmaker
662,254
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Finding comps when there are none. 

Mar 28, 2019 05:39 AM
Rainmaker
865,441
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Looking up the value on Zdevil's website.

But eventually, one needs to go and see. Then the hard part is reconciling all that and agent spends to be in business to end up getting paid $8 an hour.

Whose butt should be kicked? Now THAT is the hard part.

Mar 28, 2019 05:36 AM
Rainmaker
518,901
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

I did 5 of them. As i was doing the 5th they wanted me to change the value on the 4th one. I was threatened to lower the value or i would lose their business. I am sure they changed it behind the scenes so I stopped doing them. Too much fraud.

Mar 28, 2019 05:19 AM
Rainmaker
1,132,320
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Assume you are unlikely to get paid.

Mar 27, 2019 01:04 PM
Rainmaker
2,605,334
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Doing the BPO....

Mar 27, 2019 12:52 PM
Rainmaker
1,707,197
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Knowing what you are doing.

Mar 29, 2019 11:40 AM
Rainmaker
1,645,898
Mike Cooper, Broker VA,WV, MD
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Companies ordering them reject your hard work. You end up spending 10 hours doing a $40 BPO. Let's see. That's not quite minimum wage.

Mar 28, 2019 05:31 PM
Rainmaker
2,061,599
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Don't do it.

Jun 19, 2019 08:56 AM
Rainmaker
1,596,146
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

No idea. 

Jun 19, 2019 08:29 AM
Rainmaker
4,693,842
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have never done one.

Apr 15, 2019 02:27 PM