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Curious About BPOs?
Are you a Real Estate Professional, Agent or Broker, curious about Broker Price Opinions BPOs and would like to find out how doing BPOs can enhance you Real Estate career?
Receive More Income
The most obvious reason to perform BPOs is to earn money. Without doing BPOs, a Real Estate Professional’s income can be inconsistent at times. Once established and vetted with a few BPO Companies, a Real Estate Professional can earn a consistent and reliable income performing BPOs.
Real Estate Professional can earn thousands of dollars per month performing BPOs. There are also many Real Estate Professionals that perform BPOs as their sole source of income and can make a 6 figure income. The amount of money a Real Estate Professional can make is limited by their dedication and perseverance. (income results vary and can not be guaranteed)
Increase Skills as a Real Estate Professional
Performing BPOs makes you a Superior Real Estate Professional. As a function of every day practice doing BPOs, a Real Estate Professional garners, sharpens, and hones the following skills: • Price houses and properties • Value amenities and features • Inspect a house’s interior and exterior • Inspect neighborhoods • Know your service area • Searching and utilizing MLS efficiently • Search and find information from public records • Stay up to date with your local economy
A Professional that performs BPOs also handle many technical aspects of Real Estate such as determining square footage, room counts, measurements, architectural styles, and house types. NABPOP adheres to and enforces the ANSI standards for determining square footage, room counts, and measuring for square footage. NABPOP also has references for architecture styles, house types and much more.
Become a Better Real Estate Professional Imagine the advantages that being able to place an accurate price (using technically correct methods and best practices) on a property will bring to your Real Estate business. No other Real Estate Professionals are as close to the pulse of their local Real Estate markets and prices as those that are doing BPOs on a regular basis, and making good money at it as well.
Professionals that perform regular BPOs are also going into neighborhoods on a regular basis so they tend to have an excellent knowledge of their service area – much better than the average Real Estate Professional. Performing BPOs definitely will add to any Real Estate Professional’s career and business.
Doing BPOs will put you in the community as a Real Estate expert. You will come into contact with property owners every day in order to perform BPOs. These property owners look at you as a Real Estate expert because you have been assigned from a bank or a lender to evaluate their property. As a Real Estate Professional, whenever you are in the community, you are in a marketing opportunity to get your name out there.
Not only will you be working for and establishing a reputation with banks and lenders, some BPO assignments can lead to receiving a listing through the lender. Loan servicers will evaluate your performance on BPOs in order to determine future listings. REO/Foreclosures are everywhere and BPOs are the first step in a default situation and are pervasive throughout the default process - initial default, short sale analysis, foreclosure process, repossession and REO listing. In many instances, the BPO practitioners that perform the BPOs, in a default situation, develops a rapport with the asset manager. A BPO practitioner's performance can lead to future REO or short sale listings (although possible, listings are NEVER guaranteed). BPO competency is essential in the default process.
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