So, I meet up with the broker at the house that I’m planning on getting for a short-sale. I begin to point out the problems with everything, and he tells me that I have to let him do his job without me providing any commentary. Ouch! So, I wait in the kitchen till he’s done. Luckily, I had briefed the homeowner a bit before hand and she pointed out many problem areas like the mold, leaking pipes, leaking roof, etc.
Is this typical? Are most brokers as hard-nosed as this guy was? Or did I just get the bad luck of the draw from a broker that sees hundreds of foreclosures a day and dozens of investors trying to gobble them up?
Dean
BPO people are like everyone else. They come in many flavors. One of my strategies is to arrive before the BPO agent. Watch them carefully as they approach the house and check out their demeanor. You can tell a lot by this. They will always be one of three types.
A. The can do/will do guy. This agent will ask you what price is needed and then work like heck to get it for you. The sad news is that this type is very rare.
B. The affable good natured guy that doesn’t mind your company. They usually just want to do their paperwork on keep on going.
C. Your guy. He barely notices you. He is all about the work and they do not want an investor to interfere with them. Anything you give them they regard as questionable at best.
You need to identify the type of BPO agent that you are dealing with and treat them accordingly. It will accelerate the process and make your deals go much smoother.