There should be additional criteria required by Banks for BPO real estate agents. It disturbs me that some miss the point of doing the BPO.
As I talk to agents who work shortsales it becomes quite clear…that maybe these BPO agents are not obtaining the true value of these properties for sale..visually…comparably..doing a fair market evaluation. Here is what I mean….
- Why would a BPO agent care what the active listings are in the subdivision? Why don’t they have that information?
- Why would a BPO agent take photo’s and not place the property in it’s true light meaning snap photo’s of stains on the ceiling or plumbing destroyed or an air conditioner missing? Does that not affect the value of a property?
- Why is it as listing agents we must point out the flaws or send replacement photo’s to get the bank to see the true condition?
- I guess my point here is not all BPO real estate agents do a bad job when it comes assisting the bank to accept a short sale shortage.
A solution might be for banks offer a few more bucks to really get a true idea of a property’s condition by requiring additional data…more photo’s and quality information.
