A friend of mine offered me a job becoming a B.P.O agent in phoenix az. He said all I need to do is get my real estate license and he will set me up. He said he makes anywhere from $1000 to $5000 a wqeek. My question is is this business as easy as he is making it sound to be? And how much can I expect to make just starting out? Thanks in advance.
Well first of all B.P.O. means "Brokers Price Opinion" that first key word is important "Broker" as in an educated person who meets the state minimum experience requirement for experience as an agent, then goes and takes the state Broker Test along with submitting their qualifications. (Normally runs an office or is associated with an agency who normally has many agents.)
And yes there is ability for an agent to study comps and supply an opinion of price but I don’t put the same value on an agents opinion!
I am heavily invested in the Phoenix market, there have been hundreds and thousands of agents get out of real estate here the last 3 years. I think an agent here right now is lucky to be makinjg 30k to 35k a year. Not to say there aren’t agents making more or a lot more but that’s the 1 in 5 or 1 in 10 thing.
Are they now calling a Comparative Market Analysis, which all agents do for free when giving a presentation to get a listing now called a Broker’s Price Opinion? Unless you’re a broker or agent that’s also a certified appraisalist, I can’t see why a BP opinion would be worth anything.
I used to be a realtor who sold REO properties and did BPOs for various lenders and servicers. It is not an overnite process at $50-$100 per BPO. However, I can imagine with the influx of foreclosures you could get pretty many requests. Sign up with as many companies as you can. Best of success to you!
Do not learn the BPO process as an agent learn it as an investor… The amount of income if hugely different…
Here is a BPO is you’re interested…