BPO Slow-Down - Anyone Else Seeing This?

By
Real Estate Agent with Coldwell Banker Kivett-Teeters BRE 01844441 01844442

 

BPO Slow-Down - Anyone Else Seeing This?

 

We try to keep a steady flow and cycle of BPOs coming in through our office. In fact, we work with a few companies simultaneously. But as of the middle of August we have really seen a slow-down of BPO requests from all of the companies we work with.

We're pretty darn sure its not related to our quality of BPO processing- We have high standards for ourselves regarding BPOs.

So We thought we'd ask you, the ActiveRain community what your experience has been of late. Have you seen a slow-down? Or is it just us?

 

 

Posted by
GARRIGUS REAL ESTATE
Serving Southern California
Standard Sales, Foreclosures, Short Sales, Commercial Real Estate
Certified Foreclosure Agent & Short Sale Specialists
Coldwell Banker Kivett-Teeters Associates
Todd & Devona Garrigus - REALTORS®
Call (888) 9-List-It
That's (888) 954-7848
or
(951) 490-3698 Direct for Todd
(951) 490-3698 Direct for Devona
BRE License # - 01844441,  01844442
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Rainmaker
1,051,805
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Todd, I noticed the opposite, increase in this area, also the time lines have been shorter, they want it instantly

Sep 01, 2010 04:48 PM #1
Rainmaker
289,876
Martin Kalisker
WEICHERT, REALTORS® - Synergy - Brookline, MA
Weichert, REALTORS - Synergy: MA Real Estate & Mor

We are experiencing a steady growth of BPOs as the companies no longer allow non-verified agents to do the work for brokers, etc.  Also, the BPO companies are looking more closely at the distance that suppposed BPO experts have to travel to a specific location.  All too many of these "warehouse BPO shops" do the work from a desktop and use satellite images of the home or pay a local kid to take the address verification photos.  I've seen it happen.

Sep 01, 2010 06:01 PM #2
Rainer
27,457
Alan Bruzee
Long & Foster Real Estate, Inc. - Rockville, MD

The BPOs remain steady accoring to the agents I talk to.

Sep 03, 2010 05:39 PM #3
Rainer
43,856
Laura Resnick
RE/MAX Associates West Bartlett, Il. 60103 - Carol Stream, IL
Carol Stream, IL 630-975-0615, RE/MAX Associates W

I have seen a significant decrease in bpo's.  I have asked many times if there is a problem and have been told that there have not been many in my area.  I had many in July and a smattering since.  It has made a difference in my income, that is for sure

Oct 11, 2010 10:31 PM #4
Anonymous
Anonymous
Garret Snyder

I have seen a real slowdown in BPO's in my area. One or two here or there.

Oct 14, 2010 05:30 PM #5
Rainer
2,453
Melissa Royal
HomeSmart - Phoenix, AZ

I have seen a huge decline in my area, nearly 1/3 of what I was doing last year.  Especially on Fannie Mae products.  I have also seen a slowing in REO listings.  However, it seems we still have just as many defaults in our area, so I can not get to the bottom of it...

Jun 29, 2011 06:06 PM #6
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Rainmaker
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Todd & Devona - Garrigus Real Estate

Southern California REALTORS®
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