On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into whether or not BPO Agents are taking advantage of the system and not doing what they are paid to do! In today’s real estate market it seems like everyone, even our almighty government, is looking to blame.  So make sure you watch today’s video to see what is they are doing and also the latest on what Wachovia is allowing our sellers to walk away with at closing, how much commissions they are paying real estate agents, whether or not you can immediately resell a Wachovia short sale property, whether the new HAFA short sale program timelines are being followed by today’s servicers, and more.  Visit www.PreforeclosureDailyGrind.com for more real estate videos from Bob Lachance and Chris Bowes.

2 Responses to “Are BPO Agents at Fault for Terrible Short Sale Valuations?”

1. Glenn Egart says:

   June 17, 2010 at 4:29 pm

   Hey Bob,

   We send pictures of the properties we short to the Lender with the short sale package and follow up to make sure they have received and reviewed. We also tell the BPO agent or appraiser who is handling the value for the lender that we have submitted all pictures, details, and and extensive area comp. report to the lender in advance to keep them in a check and balance. Most want our report so that they can copy to make their job easier. Some are just A _ _ H _ les and some are large REO offices that also handle drive by and BPO’s for banks. We try to deny all agents that work for large REO offices but we do not discriminate against all REO agents as some are very good at values and take on REO’s to supplement their income. Just some info. if it helps. I’m sure you have similar countermeasures. Glenn in St. Louis! Keep Rockin!

   Reply
2. Steve says:

   June 17, 2010 at 8:32 pm

   Just FYI…
   The BPO agent (actually a Broker) that blew this one is a “REO Specialist” with approximately 130 current REO listings in the metro ATL area.

   Reply