That is a road to abuse that I would never suggest anyone get started on.

Spend your resources marketing to clients who will pay you, appreciate you, and not abuse you.

Despite what others may say, completing bpos can be very rewarding and printable. First you need to learn how to complete them. Next do not pay for any list to sign up for them. There are 2 types of bpos, there is the bpo mill, that just completes bpos but does not assign listings, these are time fillers for me but can earn a great paycheck every week. Then their is the asset management company that assigns bpos and you earn listings for doing them well, quick and correct. They take time to get in, and you may have to pay to join their network to be able to complete the bpo on their management software. Listing REO is a whole other lesson.  But completeing bpos in between my real estate duty earns me what some agents make in a whole year. 

I did BPOs and it is not soemthing I would recommend. 

 In my opinion get your BPOR designation and decide if that is what your life to be... To much running around for way to little money! Become an appraiser and get paid for the same job...

Bob Crane  and Richie Alan Naggar have excellent responses and I agree completely.  It's a thankless job and more than likely you did not get your RE license to work for others especially in the that arena. 

Ashley,

I think Richie Alan Naggar gave you good guidance.  A

This is a tough business to just want to enter into it...Plead whatever case you have to the sources until it goes somewhere....

I have done them before (during the recession) - the amount of time needed to complete these and the amount you're paid to do them, make them very unappealing in my area.

 During the Crash of the mid to late 2000's, BPO's were the big deal.  Banks were trying to avoid the fees charged by licensed appraisers, by offering lunch money to Real Estate Brokers (typically $100).  Brokers who had no other source of income were eager to scramble for those tossed coins.

  Then came the problems... Brokers submitted the BPO's, the Banks did not pay.  They had excuses like, "wrong form used", or "property already sold", or some other reason, if you even heard from the Bank at all.  Next, the prices were cut to $50 and even less (see  William Feela's $25 answer on this page).

  Sorry for the negativity, but as you can see from the many answers to your question, most experienced Brokers will advise against BPO's.

   Best to you!

decades ago, I did them.... would never recommend anyone get involved with that....

Ashley, are you a broker yourself?  If not the first thing you will want to do is talk to your broker.  There are laws and regulations you have to follow as a Broker doing BPO's.  Also, I agree with Kenneth J. Jones's last paragraph. Make sure you know what you are getting into and that your Broker (if you aren't the Broker yourself) knows and is on board.  There were a lot of agents illegally doing BPO's during the big downturn, it became a problem, at least in my area. -Kasey

I was offers $25 from a loan company. My times is worth more than that

Bob Crane nailed this one!

Ashley R. Williams Several excellent suggestions for doing BPOs.

Time vs. Return on Investment = do the math, it doesn't pencil out.

Been there, they are a lot of work for little pay. I did a few in the heart of the 2007-2011 Great Depreciation. Short Sales are more lucrative than BPO's. Plus, in SoCal in 2017, you'd starve to death, we have so few.

Ashley - I have never done BPO's because it seems like a lot of work for not much money, and I don't feel that your efforts would be appreciated.

I'd personally avoid them.

Not in my wheelhouse... sorry. And I'd be paying attention to what Kenneth J. Jones said. At the end of the day, you can make a whole lot more money selling real estate than doing bpo's.

Ashley, Bob Crane has the vest answer and he is correct.

Ashley Williams, St Petersburg Fl, young woman in pursuit of success.

At this time in your career, you have more time than money. This seems to be a good option. I can not imagine your KW peers would suggest this instead of their dialing for dollars programs.

However, your location lends itself to this market entry resource. What others are suggesting is it is highly unlikely a new agent doing BPO's will ever get for REO listing. That's the reality. However, knowing more about the mechanics of REO and investors will prove to be a good thing.

What you should do is use Big G to identify Real Estate Investor groups in Pinellas county or south county. Pay the few dollars, go to the meetings and get their names and number, specialty and financing of a large group. These are your buyers.

Learn how to use tools like Rehab, or Joist app, or CIS Score and start evaluating houses on your own. Present them to these investors via private communication or website inventory.....and you'll be rock'n it.

PS: Troll  Auction.com and Craislist to ensure you know about the same inventory your buyers know about.

Start making your success today.

I've done BPOs only for my short sales.

Why are you interested in BPOs? 

Ashley R. Williams - now should I repeat what Bob Crane , Kenneth J. Jones and Richie Alan Naggar have suggested?

I would check with Scott Godzyk  - he does alot of them I think

Ashley R. Williams The BPO companies will take advantage of you. They will hassle you to get the BPO in immediately and after you submit you will have to beg for your money. Many will pay little for the amount of work that has to be done. The only way to make money is by volume, if you can spend the time with it.

I AGREE  with Richie Alan Naggar.

Bpo companies will only send you a couple over time to see how you perform.  

It can be dangerous, be very careful.

Why?? Don't waste your time..find sellers who want to sell and buyers who want to buy! Get out there and make it happen!

I am with Bob Crane - it's a great way to burn out and go broke. I speak from experience - I've done them.  I still get orders that I do not even respond to. They can kiss my backside.  I wish you all the best. 

BPO's?? Now why would you want to do those? At $50-$75 bucks a pop, I don't see it as an attractive use of time.

Go to linkedin and find out who are the asset managers. Ask, ask and ask.

I tried years ago when we actually had REO properties, but they have dried up now.

I have taken some BPO's classes quite sometime ago just to learn the process.  They tell you who to contact if you are interested in doing it. 

When I think of BPOs I think of Scott Godzyk and Debbie Laity.  Glad to see Scott has responded to your question.   

Try to contact the asset managers for the banks.

I do bpo's once in awhile - not something I would base my business on however since they don't pay very well (I only do them if they meet my fee criteria)

reo and bank owned - IMO you're a little late for that band wagon but you have to get to your local banks and impress them

If I were you (which I was) I would work whatever I could and not focus on those items - but that's just me

Talk with agents who are successfully doing BPOs. Some of these companies fail to pay for assignments.

You must like to work for next to nothing. Good luck with that endevour!

Good morning Asheley,

Speak to agents who are now doing BPO and REO/Bank owned properties. Find out what work and requirements are needed, you may not want to do their work.

Kenneth has given good advice.

I have no experience in doing BPO's, some other agents do it all the time but it seems to me, it is not worth your time.

 send you a link spend someone on all of them.

Most of these are ordered through asset management companies and they uses online mnagement service companies like Resnet and Equator. You should check into getting their training and signing up with as one of their preferred agent. Good luck.