I wanted to write a quick note here because I know of a way that is guaranteed to get lots more BPO's and a way to automate the data entry side of your BPO and REO orders. You can do all of this by using Automation Software. I talk in depth about it in my eBook and Video on the subject.
I also give step-by-step instructions on How to Use the Automation Software to Auto-accept More Broker Price Opinions orders for you. It works behind the scenes while you are working.
If you haven't learned about this yet it is one of the most guarded secrets that many TOP Producing REO & BPO Agents use!
Feel free to visit my website or give me a call with any questions!
Warmly,
Nicole Ocean
BPO Trainer/Realtor
www.nicoleocean.com
www.bpo-automation.com
360-223-2482
Nicole Ocean, Moderator
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Meet other local Real Estate Agents, Brokers, Investors and Appraisers who want to learn about the broker price opinion (BPO) and real estate owned (REO) business.
This group is intented to introduce real estate professionals to the business and help each other grow in knowledge and expertise by learning from tips, tools and strategies that other members offer.
Here is a short list of the type of topics that will be addressed at our monthly meetings
* What is a broker price opinion (BPO) ? What does one look like?
* How did I fill in a BPO correctly? What to put and what not to put on your BPO's?
* How can I sign up with BPO, REO and Asset mgmt companies to do BPO's and REO's for them?
* What are effective ways to manage my BPO business?
* Learn how to gain leads from doing BPO and REO work.
* Learn about a way to automate the data entry side of your BPO and REO orders.
This is just scratching the surface, and I am always open to suggestions from our members about other related topics that they want to learn about.
Click on the link below to sign up to join our BPO and REO group and to our next local meet-up in Whatcom county.
http://www.meetup.com/The-Bellingham-Real-Estate-Agent-Meetup-Group
Brought to you by:
Nicole Ocean
BPO Trainer/Realtor
www.nicoleocean.com
Hi everyone!
I know some of you may call me crazy, but I have done this exact thing, I've turned down 3 opportunities to list a REO's. Recently, I decided to finally give one a try so I wanted to let you know how it happened and why I accepted the very first REO that I actually wanted to do.
Some of you may already know that in the past few years that I have been doing BPO's I have had a handful of opportunities to do various REO listings for different companies.
Here is a break down of the ones I turned down and who offered them to me:
1. SSPS who managed an REO (Condo) for Ameriquest offered my very first opportunity to possibly list an REO for them. They'd told me that I just might get the listing, if I'd first do a FREE Interior BPO order for them on the property. I signed all of the agreements and paperwork, "Just in case!"Then did a great job on the BPO, but noticed that someone was already doing the pre-listing duties, clean up and repairing within the property. I didn't think too much about it!
I never heard back from the Account/Asst Mgr and checked the MLS to see that a past president of our local Realtor Association and Top REO Listing Agent got the listing on the property. I felt a bit used from this experience, but a little wiser none the less!
2. A rep from Reoworld.com called me a few months later with an opportunity to list a $500,000 plus REO property that was located in an amazing island called San Juan Island, in a city called Friday Harbor (Ever been there? It's such a special place).
I excitedly accepted it without thinking about it enough!
The location of this property was where the first problem started. After collecting my thoughts for the next few hours, I realized that it was going to be extremely difficult to get to this property because it was only accessible by ferry boat and it was a 2 hour ride one way from where I lived. At this point I really started to wonder if I'd be able to pull this off.
I got sidetracked for a few moments then as I received a fax with all of the instructions that I needed to get started on doing an inspection of the property. I decided to sleep on it and figure out how I wanted to proceed the next day.
The next day I received more paperwork from the Reoworld rep, of the legal kind though....deeds, title information, listing agreement paperwork, etc. Now things were getting serious. I had to make a decision and then commit to it either way.
I decided to call the rep and tell them the situation and then kindly bowed out. I even tried to refer them to someone on the island to do the REO, in fact the person that actually tried to sell the same exact property while the owners still lived in it right before the foreclosure process kicked in. They weren't able to see it in time and so it went into foreclosure. I watched the MLS and saw that the person that I referred them to got the REO. I haven't heard from her or them ever again.
I felt like I should have gotten a referral fee from her, but she never went out of her way or even called to thank me. I wonder if the rep told her the circumstances of how they found her information.
Oh well, chalk it up as another experience!
3. In the last 8-9 months a rep from Res.net called me and offered me an REO that was located 30+ miles from me in the $600,000+ range, a beautiful property indeed, but at that time the house was listed as active on my local MLS as a short sale. After careful consideration and lots of research I turned them down. Here are the exact reasons why I turned it down:
A. The property wasn't an REO yet and was still being marketed on the MLS. It could be sold at anytime.
B. Our market is very slow for sales
C. The price range for a property like this makes it a hard sale. I figured it would have sat there for a long time. It is still on the market today and had received a lot of price reductions so that it is in the mid $550,000 price range now.
D. The location was in another county and would be hard to service well.
E. Lastly, I asked how the rep found me, and she said it was because I'd been doing paid BPO's for USRES.com for almost 2 years. If I'd only consider switching over to joining RES.NET in order to get the listing and pay $250.00 to join their site then I'd be able to list this property. I seriously considered this for a moment and then decided that I didn't want to pay a company to get REO or BPO work for that matter. Plus, I've never been one to not get paid for BPO's in order to be 'eligible' for listings in the future. The catch for USRES.
Now I've saved the best for last!!!!!!!
4. In the beginning of December 2008 a rep from Goodman Dean who is handling the REO for Citi Residential Lending. She had called me up out of the blue and asked if I wanted to do an REO for them! Hummmmmm, maybe, I thought as I was talking to her on the phone. I quickly said "Sure I'd love to!" As I quickly proceeded to double check as to where the REO was located. It was only a few miles down the road. I thought that was a big bonus!
She proceeded to let me know what to expect and how they work. We hung up and the same day I received all of the marketing package instructions, the listing agreement, an inspection report, etc.....
I followed everything to the T this time and went through the motions of doing an occupancy check to see if the property was occupied. I couldn't tell for sure yet, so I walked over to a neighbor's house. She confirmed that they'd already moved out. So I proceeded to pass along the news to the asset mgr at Goodman Dean. Then I got started on the other stuff on the checklist. I got the property re-keyed, sent in all of the marketing package paperwork that they needed and made sure to meet their deadlines for everything.
As I was doing the interior inspection and being the first person in the property after the previous homeowners moved out left me feeling a little unnerved. I didn't know what to expect as I pushed open the newly busted door handle (that was getting rekeyed at the same time that I was doing the interior inspection.) I'd hoped that the house wasn't in too bad of shape, but knew enough from past experience in doing 2nd opinion interior BPO's for other REO properties that most were dirty, stinky and it was inevitable that there would be hidden damage in the home that was not going to be fun to deal with let alone find.
I'll write more about my experiences with this soon, but mainly I wanted to let now that sometimes it is perfectly ok to decline an REO for whatever reason. Keep in mind that there may be consequences if you do this...maybe good, maybe bad! As long as you are completely honest with yourself and those who seek your services then the worst thing that could come of these experiences would be that you learned something useful.
I guess the third time is not always a charm! For me the fourth time was the ticket! I'll keep you posted.
I'd love to know your thoughts, ideas and opinions on anything within this posting!
Warmly,
Nicole Ocean
nicolesdreams eBooks
BPO Trainer/Realtor
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I am a Certified Real Estate Instructor, BPO Trainer and a National Speaker that is based in Bellingham, WA. Check out my websites: www.nicoleocean.com and www.bpo-automation.com
Click on the link for a FREE LIST of over 120 Broker Price Opinion, REO and Asset Mgmt companies.
Or simply visit www.nicoleocean.com
This eBook, entitled, "All You Ever Wanted to Know About Automating Your BPO Orders," offers 65 pages of in-depth detail and step-by-step instruction, plus lots of screenshots and need to know information about how to automate the data entry side of your BPO and REO orders. (Sold for $49.99)
Best-Selling BPO Manual that is entitled, "All You Ever Wanted to Know About Broker Price Opinions." Sold for $55.00 (Thousands Sold Since 01/2007)
Broker Price Opinion
Broker Price Opinions
BPO companies
Bpo Real Estate
BPO Software
Auto-Accept BPO's
Brokers Price Opinion
Broker Price Opinion Companies
Bpo Broker Price Opinion
BPO Training
I have been helping teach (locally, virtually and through live speaking events) thousands of real estate brokers, agents and appraisers all over the United States about the HIDDEN field of Broker Price Opinions. I am a Certified Real Estate Instructor and BPO Trainer within a family-owned and operated company here in Bellingham, Washington.
I have been a Realtor since January 2006 and have been doing BPO's for 3 years. I am an established author, consultant, trainer and national speaker on the topics of Broker Price Opinions as well as on how to use Automation Software to automate the data entry side of your BPO and REO orders.
Please take a moment to check out my websites at: www.nicoleocean.com, www.bpo-automation.com and www.automatebpos.com
Areas of Expertise
Broker Price Opinions
BPO Training, Education & Consulting
BPO Automation Software
BPO and REO Education
Hear What Others Are Saying About My Products!
Testimonials from past
"BPO Training Students & for The All-In-One BPO & REO Package."
"Greetings! I am very thankful to have met you through one of your previous students, who is now a successful BPO & REO agent here in the East Bay Area. Taking your complete 2 week personalized course was the best thing I needed to jump-start a new career in BPO & REO. I immediately felt comfortable that learning your system was a perfect formula to succeed because you have unselfishly shared the secrets to getting started in this field.
Every completion of our conference call has increased my knowledge & skill in developing the right mind set. Your simplified & systematic approach helped focus my attention to the important details for organizing, preparing & developing the tools required.
I am now more confident than ever after being armed with your training to aggressively seek the business as BPO vendor & REO preferred agent for the institutions concerned especially with your continued support. Once again thank you for the abilities you possess as an effective educator. Many more need to benefit from your educational skills & knowledge, & rest assured that I am more than happy to be a reference to any of your future students. I am proud to have you as my mentor."
-Joseph T. Realtor® in Concord, California
"I have had the opportunity to be trained by Nicole Ocean for Broker Price Opinions. In addition to being intelligent, diligent, professional and articulate, Nicole has an innate kindness and integrity. I found Nicole's teaching style to be exceptional. She was easy to understand, thorough and well organized. As an attorney and real estate agent, I certainly feel Nicole Ocean is more than qualified for the position."
-Melissa & Glenn K. Realtors® in Bloomington, Minnesota
"Just want to thank you for your assistance and instruction in setting up the BPO portion of my business, and the basic how to's from A-Z.
What's more, your accessibility to questions, prompt attention to students, and hands on is highly professional and most appreciated.
I love knowing you are there should a question arise that I am unable to answer. The Best to you in '09."
-Judy B. Realtor® in Scottsdale, Arizona
"I signed up with several BPO companies on Sunday night figuring I'd have plenty of time to get up to speed, I found three orders in my email Monday morning, so I needed to hit the ground running. I selected Nicole's training program because it looked like the most straight-forward, no-nonsense and comprehensive tool I could find, and it was. With Nicole's invaluable training materials, and Nicole herself answering questions (by phone and email), giving me personal experience tips and reassuring support, I got funtional quickly. Now I'm working on implmenting all the other "how-to's" Nicole provides to make sure I organize and run my business the right way too. Thanks Nicole!"
-Pam W. Realtor® in Pinetop, Arizona
Testimonials for:
"All You Ever Wanted to Know About Automating Your BPO Orders."
"Hello Nicole
I would like to extend a big THANK YOU!
Thank you for sharing the great information of how to become more productive.
I purchase your e-book
I've been doing BPO for a couple of years now and was on the verge of burn out!
It was becoming a chore to keep up with the back end process. I've always look to push the edge to increase my BPO business but could never do so without it totally taking over my whole day.
I thought of hiring a staff to help out on the back of the process but once I figured out the cost, I didn't think it was worth it, having to deal with additional headaches of managing more staff members. I read your book and it immediately put me on the path to increasing my efficiency and becoming more productive.
Utilizing the methods you've taught, I've increased my orders 60% and decreased my time spent almost in half!
Once again, Thank you for showing the way! I would highly recommend any agent/broker that's serious about doing BPO business to review your e-book and I'm sure the small investment would be many times the return of investment! "
Sincerely yours,
-Patrick M. Broker in Hamden, CT
"All You Ever Wanted to Know About Automating Your BPO Orders." a week ago and I've read it at least 3 times!! It's a gold mine.,"Hi Nicole: I just want to thank you and up date you on what's been happening. I bought your first book on BPO's about a year and a half ago. After I read your book on how to get started, I went into the BPO business full time. I used the information you supplied on how and where to contact the various banks and agencies. I got responses from the ones I wrote to, and this started me on bpos to supplement my income. Very soon after that I became fully involved with them and it became very lucrative.
As you know, the repetitive entries started to become very tedious and boring.
Then you came out with your 2nd book, on how to automate bpos. I bought this book from you, and it changed the way I now work. I am now almost fully automated on my bpos. This has doubled my output, while at the same time it has cut my worktime in half. I am doubling my income and working half as hard.
Thank you for your info and your help."
-Richard C. Realtor in Ft. Myers, Florida
"This material would be great for self-paced training. The content is good and the book is very interesting. Thanks for taking the time to create this material!"
-Leona T. Realtor® in Oakland, CA
"Nicole,I am a licensed Broker in 2 states and have been active in all aspects of Real Estate for more than 25 years. Not only have I found your two eBooks on "BPO Manual with 120 Links" and "Automating Your BPO's" to be exceptionally well organized and presented, but also filled with a wealth of information sources and step-by-step details that simply cannot be found anywhere else! This is always what other authors lack in their books.
After reading both eBooks, I was able to increase my current number of monthly BPO orders from vendors over ten-fold, and immediately reduce my data entry time about 50%. When I have fully automated the entire data entry process, that time-saving figure should easily increase to 75%, which translates to either more profits for the same hours worked, or much more time off for the same income. Keep up the great work!"
-Scott N. Broker in Port Charlotte, Florida
Testimonials for:
Personalized Macro Consulting and BPO Consulting
"I am writing this today on behalf of Nicole Ocean and the services that she provides. I am a Real Estate agent who has turned to BPO/REO work a few years back when the market took a turn.
Since then I have probably completed over 100,000 BPO's and manage a staff of over 19 people covering 3 states completing BPO work. I recently came across Nicole Ocean and the automated BPO. This program has without a doubt increased my work potential while decreasing costs and time tremendously. I was lucky enough to have Nicole work with me whenever I needed her to set up this program and design it for my needs. Without her and her prompt service there is no way that I could have made this program work so well to suite my specific needs.
I still continue to hire her to consult for me and am still amazed at what this software does.
-Ryan G. Valuations Manager in Henderson, Nevada
"This program is the bomb. Nicole set up the whole thing for me as I watched right from the privacy of my own home. I tried it out the next day. I had 15 BPO orders due with Countrywide. It only took me 2 hours to do that including pulling comps and getting all the basic inform in....I was floored!!!!
I was so glad I found Nicole's tutorial. Previously, I was using an assistant paying for data entry, as a result I had to do more to cover the cost of the assistant and make a decent salary. All of which took more time and headache, but I made the same amount of money or sometimes less. Now, I can take less or more orders and get done in half the time and do the work myself....Thanks Nicole."
-Lisa J. REO Listing Agent in Crockett, California
"This program is the bomb. Nicole set up the whole thing for me as I watched right from the privacy of my own home. I tried it out the next day. I had 15 BPO orders due with Countrywide. It only took me 2 hours to do that including pulling comps and getting all the basic inform in....I was floored!!!!
I was so glad I found Nicole's tutorial. Previously, I was using an assistant paying for data entry, as a result I had to do more to cover the cost of the assistant and make a decent salary. All of which took more time and headache, but I made the same amount of money or sometimes less. Now, I can take less or more orders and get done in half the time and do the work myself....Thanks Nicole."
-Lisa J. REO Listing Agent in Crockett, California
"My 1 hour phone consultation with Nicole was very informative and WELL worth the money. Nicole had great info, insights and recommendations tailored to my specific situation. She had very valuable advice in dealing with a number of BPO and REO companies that will save my a lot of time and money in the future. I would recommend spending an hour on the phone with Nicole to any agent or broker who is looking to make their BPO business more efficient and profitable. Thanks Nicole!"
-Jeff S. Broker in Saint Charles, Missouri
"Thank you Nicole for your work with me on automating my BPOs. This has been a great experience- it has already cut the time I spend on each order in half! The automation process will allow me to expand my business and accept more orders to be completed in less time, and allow me to make more money and work with more companies to increase my opportunities. In the end I know this will add up to more REO listings- something all BPO agents strive for.
I wish I had this when I first started BPOs- what a time savings I could have had! Thanks again!"
-Maria R. BPO & REO Agent for Big Hill GMAC in Middletown, Ohio.
Testimonials for:
"All You Ever Wanted to Know About Broker Price Opinions."
"I bought your book on BPO's and I have to admit, it's the best and only book out there that really gives you the "guts" of the business. Your book is priceless for not only those who are just starting out, but even for companies like ours that have been doing BPO's for 5 years now. Thank you for putting yourself out there to help those people who have no one else to turn to."
-Stacey J. Broker in Fort Lauderdale, Florida
"I bought your 120 Links for BPOs and then upgraded to the BPO Manual soon after. I am excited to report that I currently am doing 8-10 BPOs a week. I have been at this since September of 2007 and it is enough money to pay my mortgage. I am so excited and thankful that I bought it. You were such a great help with my first one back in September. I am almost a pro now! Ha ha! I love to be able to spend time with my kids and still have money coming in.
I also got a Listing for it. WoW!! Thank you!!!!
Monica C. Realtor® in Antioch, California
HERE IS AN UPDATE FROM MONICA
"I am so excited about being an REO agent. It has been exactly one year since I purchased your book. I now have 52 REO listings. I am steadily selling and getting more listing. I currently do 15-20 BPOs a week. I thank you for walking me through my first BPO. I am making more money than I ever have before. If any of my colleagues ask how I started I tell them to go to your site.Thanks again!"
Monica C. in Antioch, California
"This is the 2nd BPO Package I purchased and I paid less money and received far more usuable content. Nicole really goes over things in detail and the section on "Beating the Competition," is worth its weight in gold! By simply implementing the information provided in this section alone, I was able to significantly increase my chances of accepting assignments. In fact, the first day I set up my cell phone to accept emails, I was able to accept my first assignment simply because I was notified immediately of the availability. And, I wasn't even sitting in front of my computer at the time. Awesome!
I highly recommend buying this program! If you're looking for a way to earn some extra cash this is the way to go. You can earn enough money to do whatever you need to do, I mean everything from offsetting all the fees/dues that come with the cost of doing business, to putting spending cash in your pocket EVERY MONTH, to implementing a new marketing stategy for your business EVERY MONTH, it truly will help you do whatever you need to do!
If you're relative new to the business, having this information at your fingertips will help you through those challenging and frustrating times and more importantly, Keep You From Leaving The Business. Kudos to Nicole. Again many thanks.
-Debra C. Realtor® in Wantage, N.J.
"I just wanted to write and thank you for such a well written manual, I wasn't sure what to expect when I ordered it but have found the manual to be indispensable to me in my business, you have given me another avenue to pursue in Real Estate. Your manual is well written and an easy read. You have been extremely kind & helpful, I truly appreciate it. Thank you again!"
-Brenda F. Realtor® in Atlanta, Georgia
"I started to read your book this weekend and can really appreciate the easy way it's written. I also love the fact that it's short, precise and to the point. Too many times people pad the contents of a book just for filler instead of addressing the subject directly."
-Maggie D. Realtor® in South Miami, Florida
"I first must say I have NEVER seen this kind of help and support before in this competitive industry. I greatly appreciate it, and definitely will be signing on! I am currently working with a very experienced Realtor who is "training," me with BPO's, but nothing compares to this information! I am so happy that I happened upon your masterpiece! You'll see me on the forum!"
-Matthew F. Realtor® in Avondale, Arizona
"Nicole, thank you for your book, "All You Ever Wanted to Know About Broker Price Opinions." It was very informative and has helped me very, very much. In just a few days, I had signed up with several BPO Companies and began to receive work in just a couple of weeks from the help you provided in your manual. I often refer back to it when I get stuck and I would certainly recommend your manual to others who wanted to start in the BPO business."
-Lydia V. Realtor® in W. Memphis, Tennessee
"Nicole thanks very much for the bonuses and for your excellent eBooks! They are filled with great nuggets of information and efficiencies and the lists are fabulous! I really appreciate the 'authenticity of your website and work....it's not the "hip and slick, buy it now" stuff! Wishing you continued MEGA successes!"
Linda A, Agent, Yucca Valley, Joshua Tree and 29 Palms, CA
"I have been doing BPO's for about 5 years now, for maybe 3-4 companies and 4-5 per month. Now I am doing 4-5 a week and am turning down that many more because I do not have the time to do them all. Many people come up with sale gimmicks to generate more income, however yours actually works, congratulations! From the island of Kauai I say Aloha and Mahalo."
-Ron K. Realtor® in Kauai, Hawaii
"I want to say thank you for the book and list of BPO Companies. It was worth it and my first CMA paid for your book and lists. Last Monday, I signed up for 3 BPO Companies just to try it out. So far I have made $155.00 on just 2 CMA's. This is exciting, and I am going to be signing up for more."
-Ike R. Realtor® in Pensacola, Florida
"Just want to thank you for sharing your experience. Your instruction guide on how to fill in a BPO form was great! I wish I knew about BPO's when I first started in real estate."
-Hoi T. Realtor ® in Cartersville, Georgia
"I purchased your book about six weeks ago. It was straight and to the point and it did help cut down my time completing orders. I purchased another "program," which wasn't worth the time, money or effort, but I did so to compare and to obtain more information. You book was "right on." My first month has brought in approximately $1,000.00 Thank you!"
-Philip C. Real Estate Broker & Mortgage Broker in Niceville, Florida
"By the way, Nicole you're the greatest! In less than 30 days I've racked up over $1,000 in receivable!"
-Jay H. in Realtor® Marrow, Georgia
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