Does anyone out there know what agents are paid to do BPO’s? Based on my limited experience, we’ve had “drive by” BPO’s done as well as internal. Some agents seem to be very thorough and others real non-chalant about things. I’m just curious as to what they get paid to do that job. I’m not an agent but seems to me like that might be a pretty hot thing to try to get into over the next 6-12 months.
I don’t know if it’s the same throughout the country, but it my area (MA), for an EXTERIOR BPO, we get between $50-75. It’s not a lot, but it’s also not a lot of work either. After you understand the requirements and format of the company who are requesting it, it really doesn’t take too much more than an hour to complete!
I asked an agent who showed up at a BPO for me what he got paid. He as well stated 50-75 for a drive by BPO. And by drive by he meant sitting in his car and taking a picture of the front of the house and a picture of the streetscape. He claims he has done up to 5 a day. I’m in Cook County IL.
There is a forum out there just for REO/BPO agents. Try to google those search terms. On the site I found many agents wrote about how difficult it was to get the actual listing for the property. It seems as though the lenders often use a variety of agents for BPO work but only a few get the listing.
Thanks so much for the responses. The per house drive by is actually let than I thought it would be; I learn something new every day. Take care.
ooops…“less” than I thought it would be!