Thread: BPO's

I just read a post someone else put up about doing BPO's to supplement your income. I am through with my class and waiting to take the state/law exam. I was planning on doing some BPO's once I get my license.

My question is, does your brokerage get a split of the BPO's? Someone told me that they did and I wasn't sure. $50-75 a BPO could add up if you can do a few in a day to help supplement as you get your feet wet in listing. But, if I have to split that fee with my broker then $25-$38 per house seems much less appealing. I know that depends on what your split rate is (I am still shopping around for a brokerage).

So, do you split the BPO with your brokerage?

Todd

Hello Todd,

Every brokerage has different rules on everything. Check with your broker if you are licensed. If not, ask the question when you interview. Good luck.

What's a BPO? Same as a CMA?

I haven't done one yet, but here is my understanding on a BPO.

The bank hires an agent to go and take pictures of a property and fill out a report (including things that would be included in a CMA). They pay the agent somewhere in the neighborhood of $70 per house, you may be able to knock several of them out in day. Not a ton of money, but it may be a good way to bring in some extra money during the first lean year.

DO NOT DO WORK FOR THIS COMPANY!!!

THEY DO NOT PAY!!!

4 orders submitted as requested... on time... 4 months later... no pay!

Now I find out that this is their M.O.

Do work for a more reputable company, and say no to Pro-Teck.

Just to give you an idea of my experience.... I do about 50 orders per month for 6 different companies and have never had a pay problem EXCEPT from Pro-Teck.

Steer clear.

Okay thanks, I will stay away from them!

this does sound like a great way to make a little more money and fill up empty time we have in our new year...what is the best way to get involved in these, going directly to the banks and soliciting business that way? or getting in contact with the valuation services (did a quick google and found a few in my area)

As always, check your local laws first. In Pennsylvania, unless you are a licensed appraiser, BPOs are illegal!

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