REO Online Training Program

Become A BPO Broker

A BPO stands for a “broker price opinion”. You can think of it similar to a drive-by type appraisal. BPO’s can be interior or exterior type. Most of them are performed by Realtor’s that are hired by third party companies such as Land Safe or First American to perform the BPO. You have to specifically request INTERIOR or EXTERIOR type BPO’s. The exterior type is almost like an appraisal.

The difference is a Realtor is performing it. The third party company will request the Realtor fill-out several pieces of documentation including:

• Comparable sales sold within last 6 – 12 months
• A repair list and report based on the condition of the property
• Description of property
• Special requests if the property is vacant, occupied
• Estimate to make the property sale in 90 days
• A Purchase Contract if one is pending to the lender
• County tax information according to location of the property

One of the best thing’s about BPO/REO Work is that we can use the same skill’s we use as a Real Estate Agent – its just getting IN with the lendor’s and bank’s.

And to do that we need to get on MANY different Vendor lists. You see, when agent’s do BPO’s, they are not doing them for homeowners. they are being done for different companies.

The Different Companies and Clients Include:

• Financial industry analysts who may be evaluating the market in a given area
• Private mortgage insurance companies that have insured a piece of property that is in foreclosure
• Lending institutions that are in the process of beginning foreclosure on a real estate property
• Lending institutions that have already foreclosed on a property and are in the process of listing it based upon the BPO analysis

So as you can see -the Opportunities as a BPO Agent are huge. I wish there were an easy way to just BECOME A BPO AGENT without a hitch. But you must be able to sign up with the right companies on their Vendor lists.

These Vendor Lists Are The KEY To BPO Broker Sign Ups and The Actual Success Of The BPO Broker

What I have found is that the REO/BPO Business Kit is the best way to Jump Start your BPO Career.

It will offer you everything you need to Become a BPO Broker and It offer’s you companies and Vendor BPO Broker Sign Up Forms as well.

You can get all the Vendor Forms you need upon siging up with the BPO/REO Business Kit. You can really make your impact known by staying on top of these things -BEFORE you even try to get on the Vendor Lists.

Most BPO Broker’s will tell you that your hard work will mean nothing until you actually have a chance to work. And those of you that have done Real Estate in the past already know how important it is to build and maintain relationship’s in their business.

Here are some additional tips that you may find helpful:

• Have the proper equipment - Obviously you will need a PC. But other item’s should always include MLS Listing’s  and a Digital camera.Besides the forms that you will receive from the client requesting the BPO, then this should be all that you need to get started.
• Submit many applications – Submitting many different applications will increase the number of contracts you will recieve with the  companies. And of course you will land many more clieants and referrals as well.
• Maintain solid relationships with the institutions – Remember -BPO’s are very similar to REAL Estate. So its understood that our relationship’s with these clients will help us to maintain our professional appeal and ensure that we are thought of as a trusted BPO Broker.
• Know all areas  you want to cover – Be  aware of the areas within your city that you want to cover. If  driving across town to do a BPO does not appeal to you, make sure you exclude it from your list. We all know how expensive gas is and will be – so there is nothing wrong with excluding long trip’s from your BPO list. You will need to know the zip codes of your areas of interest. Make sure that you note these.

Sign Up For The BPO Business Kit

It is my motivation that the information provided here will give you more insight into BPO Broker Sign Up’s and more.

BPO’s AND REO’s will be a great way to keep up your income during our present market conditions. This will keep our families fed and the bill’s paid until the market come’s back.

Who know’s, when you become more familiar with the BPO’s , you might be able to provide extra money when your Real Estate numbers pick back up.

See the link below on how to become a BPO Agent to Get Started:

Become A BPO Broker