BPO's Are A Great Way For Real Estate Agents To Make Side Money Which Can Also Lead Into Listing REO Foreclosures!
- LEARN How To Get BPO Assignments FAST! And Start Making Money FAST!
- Step By Step Instructions from Getting BPO's to Going Through The Entire Process
WHAT IS A BPO?
A BPO is a Broker's Price Opinion. It is evaluating a subject property with usually 3 active and 3 sold comparables.
Some BPO requests are "Exterior" where you will only have to view the property from the outside.
Others are "Interior" where you will have to gain access to the property in order to give a more through analysis of condition.
Banks, BPO & REO Asset Management Companies need more than ever good real estate agents to perform values due to increases of pre-foreclosures, foreclosures and short sales.
You see... Banks minimize their expenses by hiring real estate agents like YOU to do the BPO which is comparable to doing a CMA (Comparative Market Analysis).
The other alternative is an Appraisal which is much more expensive.
ARE BPO'S GOOD FOR NEW AGENTS?
Absolutely! I actually encourage new agents to do BPO's as it will get them experience in real estate valuations which is incredibly important in listing and selling real estate.
HOW MUCH CAN YOU MAKE DOING BPO'S?
That all depends on a couple of factors. One being your local market and how many BPO assignments are issued.
Second will depend on your work ethic and following the step by step instructions in this course.
Many BPO fees range from $40 to even over $300 for Commerical BPO's. In our market they are around $65.
An agent I worked with made on average $5,000 per month in the last real estate recession strictly doing BPO's. And a lot of them!
HOW LONG DO THEY TAKE?
It depends on how far you have to travel and how complex the valuation is.
I would say if the property was a 15 minute ride each way and you spend 10 min at the property, that would be about 45 minutes for "site visit."
Maybe another 20-30 minutes to do the desktop value for more experienced agents.
CAN BPO'S LEAD TO REO LISTINGS?
They can. But you must know if the BPO company actually handles the Assets and issue listings.
I go much more into detail on the REO PRO'S Course.
This BOOK also includes a 12 VIDEO course by the author, Steve Daria, covering FOCUS, Failure, Distractions, Vision, Goals, Financial Foundation & MORE!