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May 25, 2012, 06:39:48 PM

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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: short sales: ethically influencing the BPO « previous next »
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Nick Brian
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« Reply #15 on: October 04, 2009, 08:50:48 AM »

Be straight to your sale. It's not ethical. Influencing an BPO agent should not be your job. Let it be even profits gets short.
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ryanpal
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« Reply #16 on: October 04, 2009, 09:49:51 PM »

Be straight to your sale. It's not ethical. Influencing an BPO agent should not be your job. Let it be even profits gets short.

nick, i disagree.

What happens when the BPO agent comes way above what it should be? or what happens when the banks become unrealistic on their required pay off amount even though you've offered 92% above the BPO and it typical that lender takes less? you, the homeowner, and everyone else involved (including the lender) loses.

if you have 5 bpo agents do comps on the same house, you will get 5 different results.  this is merely a matter of opinion, just as in the used car business, you can negotiate an purchase price that works for you.  based on your negotiating skills will determine the amount of profit you make. (provided your in range of the BPO obvioulsy).

as steelep mentioned, you're only confirming available data.  so as a negotiator, you want to use whatever tools you have to your advantage.  this is true for any business.

the unethical part comes in when investors stage houses (ie/ cause destruction to the house to get a low BPO).
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smitnlit
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« Reply #17 on: November 15, 2009, 10:25:12 PM »

I just want to respond to steelep.  BPO agents DO come in high to get a listing.  I was at a BPO where the agent let it slip that if it foreclosed she would probably get the listing as an REO.  Interestingly that BPO came in VERY high, so yes it happens.
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sammy1
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« Reply #18 on: April 12, 2010, 09:33:32 PM »

i thought any agent could be a bpo
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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: short sales: ethically influencing the BPO « previous next »
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