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What is BPO Reo Business?

Posted in September 28th, 2009
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When Banks decide to put a home up for foreclosure or need an evaluation of a property for other reasons, they don’t normally look for a certified appraiser to appraise the home. They are calling Real Estate Brokers to do the work and get paid for it. This is called BPO Business. And to run this business BPO KITS are involved. Using brokers is much more cost efficient for the lender in these circumstances because all that is needed is a simple assessment of the property in distress. There is some paper work involved and depends on what kind of assessment you are doing, drive-by or full interior inspection. The money being paid out is between $45-150 per BPO Assignment. You just need a BPO Reo List for this. This is where opportunity strikes for a lot of agents who decide to either take this venture on part time or make it a full time career. You decide!

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