This Distance Learning version is brought to you by BPO University, an accredited real estate school in Washington State.
This version of the 'Broker Price Opinion Basics 101' course is based our BPO Manual that is included within our Accredited Live Class version (Washington State) of the 'Broker Price Opinion Basics 101' course. We have submitted this same material to the Washington Real Estate Board for clock hour approval on December 13, 2010.
This course is perfect for any real estate professional that:
* Wants to learn and benefit from a proven system that will teach you how to successfully start a BPO business.
* Lives outside of Washington state and wants a Distance Learning, Non-Accredited version of the Accredited 'Broker Price Opinion Basics 101' course.
* Wants to stay in real estate and earn supplemental income.
Please note: this course is delivered as a PDF file that is over 175 pages and is broken down into 12 modules. It will take around 6 hours to complete and is a Non-Accredited version.
Top-Selling! (Updated again as of 12/6/2010) 'How to Manual,' offers 175+ pages that also includes updated company names and direct links to sign up with 120 National BPO, REO and Asset Management.
Module One (Approximately 15 minutes)
•What Exactly Is a BPO?
•Definition of a BPO Report
•Common Reasons Why BPO's Are Used
Module Two (Approximately 10 minutes)
•Current State of the BPO Industry
•Why is BPO Work Available?
•Reasons for the 'Mortgage Meltdown'
Module Three (Approximately 25 minutes)
•Common Myths in the BPO Business
•It Is Illegal to Do BPO's
•Places To Go To Check Local Regulations
•You Need a Special Designation or Certification to do BPO's
•There's Too Much Competition Now
•There Isn't Enough Work for Everyone
•One BPO/REO Company Has All of the Work
•Companies Aren't Accepting New BPO Agents
•Top 10 Companies Who Are Still Accepting New BPO Agents
•You Won't Be Able to Get Any REO Listings
•BPO's Will Not Be Around Much Longer Anyway
Module Four (Approximately 60 minutes)
•Who is Allowed to do BPO Work?
•How Much Can You Expect to Make?
•Types of BPO Orders
•Typical Fees for BPO Orders
•Trend in Price Reduction of Fees
•When Will You Get Paid?
•What Do You Need to Sign Up?
•What Type of Equipment Do You Need?
Module Five (Approximately 10 minutes)
•Sample BPO Forms
•Main Types of BPO Forms
•Sample Freddie Mac 1092 BPO Form
•Sample Fannie Mae BPO Form
•Sample Photos of the Subject Property and of the Comps
Module Six (Approximately 30 minutes)
•Basic Concepts to Know Before Filling Out a BPO Form
•Life Cycle of a BPO Report
•More Important Concepts to Know
Module Seven (Approximately 15 minutes)
•Introducing the BPO Standards and Guidelines
•Making History by Creating Standards and Guidelines
•History Behind the BPOSG
•Quick Breakdown of the Standards and Guidelines
•What Are the BPO Standards?
•Ethics and Conduct
Module Eight (Approximately 40 minutes)
•What Are the BPO Guidelines?
•Comparable Selection and Utilization
•What If You Have to Go Out Further to Find Good Comps?
•When Picking Comps, Compare 'Apples to Apples.'
•Bracketing Range for Square Footage
•Bracketing Range for Lot Size
•Bracketing Range for Age
•Bracketing Range for Bed/Bath Count
•Understanding Room Count
•Not Considered Rooms
•Understanding Bedroom Count
•Understanding Bathroom Count
•Comments, Comments, Comments
•Comparable Selection Based on Market Conditions
•Lack of Comparables
•Understanding Photo Requirements and Recommendations
•Exterior Inspection Photos
•Interior Inspection Photos
•Exterior, Interior and/or Surround Neighborhood
•Exceptions….Don't Take Photos of…..
•Basement and Below-Grade Floor Area
•BPO Commentary and Applicability
•Rating the Property/Neighborhood
Module Nine (Approximately 60 minutes)
•How Do You Complete and Fill Out a BPO?
•Overall Plan of Action
•Let's Walk Through a BPO Order
•Researching the Subject Property
•County Tax Records/Assessor's Website
•Assessor's Information Sheet
•Researching the Subject Property in the MLS
•Use More Sources to Verify Information
•Find Your Comps Within the MLS
•Filling in a Sample BPO Form
•"Cookie Cutter Phrases"
•How To Do Adjustments Correctly
•Finding the Current Market Value
•Now It Is Time to Upload All of the Photos
Module Ten (Approximately 35 minutes)
•Using Automation Software to Streamline Your BPO Business
•Let's Do A 'Basic Info' Macro.
•Customizing Your New 'Basic Info' Macro
•Beating Out the Competition by Using Auto-Accept Software
•Basic Concepts About Auto-Accept Software
•There Are No Guarantees
Module Eleven (Approximately 20 minutes)
•Creating and Setting Up an Order Tracking System
•Backing Up Your BPO Forms and Pictures
•How to Create 'Log-in' Macros
Module Twelve (Approximately 30 minutes)
•Vendor Rating System
•List of 120 BPO, REO and Asset Management Companies
•Where to Go For REO Education and Training