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BPO--anyone Else Receive This?

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TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Like a lof appraisers in PA I am also a RE Broker, needed it before certification and need it now to have MLS access. I figure that's why they sent me this, what a deal!

Hello,
I am looking for licensed agents across the US to complete Broker Price Opinions and
other services for my company. If you are interested please register with us at
<www.obpo.com> for future work. I am constantly recruiting and can use any and all
referrals you may have. If you have any questions please do not hesitate to ask. (Most
broker price opinions pay you between $40 and $70 for exterior BPO's. Please Fill out our
Agent form (click new agents register), including the zip codes in your area of interest.
Regards, Online Broker Price Opinion- www.OBPO.com ) Many of the mortgage servicers
we work with will utilize the broker on the broker price opinion for their REO needs.

Thank You
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
The perfect way to artificially inflate the market.

Again, why am I bothering doing quality appraisals when so few want the truth?????
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
That's why we get so few REO appraisals.

As an aside, a major asset management company in this market was getting BPOs and Appraisals on properties. The BPOs were generally lower than the appraisals. The company was taking the highest value estimate and jacking the asking price up above that level, then complaining that they couldn't move the properties. If they weren't going to pay attention to the appraisals and BPOs, why bother with them?

Roger
 

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
Pamela, imagine that.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Snakesssss..........
Remeber appraisers, Boa's constrict their pray before having dinner. ;)
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
TC I used to get annoyed constantly for being an appraiser and broker. I hated those BPO requests. I actually had a company cancel a pre-foreclosure order on the 2055 form and then re-order it as a BPO to me as a broker.....and get this, they wanted to pay all of $35 for it......the chick promised me I would get the listing IF...yes IF and only IF they decided to foreclose. :) I've tried to gradually become an invisible broker with those clods.

Mr. Leggett you're so right about the BOA folks.....I'm feeling paranoid lately. it seems every Friday when my cocktail hour begins the phone monkeys get together and say "Hey, let's call up Bucks and hassle him by ordering a BOA desktop evaluation." Well, they for damn sure got on my nerves 2 weeks ago. I had 5 requests on a Friday. I would post what I told them, but this is still a family channel. :)
 

Pat Butler

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
The biggest problem is USPAP. Brokers don't have to comply with it and have virtually no statutory liability with respect to the value opinions they provide as BPO's. There are many areas where I could provide a value off the top of my head in a minute, for which $50-75 would be a great deal. But nope- USPAP makes it impossible to to do these small valuation assignments without tons of backup material so our would-be clients go where they can get cheaper opinions.
 
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