http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#comments Comments from 'Getting the BPO to Come In Low...' in Hometown America Properties, LLC at BiggerPockets.com http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4516 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4516 Great post Clifton! Keep up the good work. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4525 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4525 Yes, Good detailed post. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4526 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4526 Conversation starter for Florida, ask where they are from it's usually never here. Great post Cliff http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4558 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4558 An honest agent will not rely upon your comps but generate his/her own comps. Larry http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4565 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4565 Larry, I understand that some agents will not use my comps. That is a given. But, in my experience and area, the typical BPO agent receives $40.00 for an interior BPO. They do not spend much time at the property or doing research. Hence, I attempt to help them out by providing them with valid comps of the property. If they choose not to use them, that is their prerogative. In my experience, most will use them if I can show 5 or more comps that meet the requirements they are given. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4568 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4568 There is a difference between being completely unethical and influencing in your favor. Investors are providing a valuable service moving properties that the bank may otherwise sit on for months, but the deal has to make sense. In my oppinion BPO agents are not paid enough by banks, and it is only human nature that some may not be a thorough as a result of the pay. Providing the lower end of the comps is relative in that everyone involved is looking for a value that will not still leave the property on the market 6-9 months later. The BPO agent is still likely to pull the higher comps, but may miss property specific details along the lines of what Clifton is bringing up. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4583 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4583 Well said Jim we are not far off in our opinions. As an investor I am only looking to make sure all the issues are on the table and not overlooked. I am sure they are out there but I have yet to see the BPO agent that can accurately determine repair estimates they are remotely extensive. I've seen two BPO's on the same property come back with a six figure 90% difference. I think any decent BPO agent can recognize if someone is trying to take advantage of them but I have also seen them overlook mold, roof leaks, and numerous other issues that will kill any opportunity for me to purchase the property. There is nothing wrong with being there and pointing them out. I stand corrected on the criminal issue and I typically send that into the lender and not give it to the realtor. Befriend is symantics. You should be cordial and not confrontational when addressing the issues with the property. Personally I haven't met any BPO agents that were rude or gave an outward appearance that I was trying to take advantage of them. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4584 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4584 Great post. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4596 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4596 Ted makes a great point about the BPO agents not being paid enough, often evidenced by the maybe five minutes some of them actually spend INSIDE the property during the BPO. But your post is great Clifton, and the longer your can keep an agent at the property, the better the chance of influence. One last idea is to include the laws of your state regarding BPOs inside the package you give to the agent, as many are now strict and informative. The agent may not love the idea of being reminded what their duties are, but it's your last word before the BPO gets done and no matter what they are paid...they took the job...and they're still expected to perform based on their expertise. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4603 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4603 Everyone, please understand that the person above (Tim) represents exactly what the mainstream media would like to portray investors as. He is not in any way affiliated with the writer of this article, nor Bigger Pockets in general. I have been deleting his posts now since the writing of this article, but have decided to leave his entry in at this time, in order to emphasize that this is reprehensible, unethical and patently illegal. I would urge any and all BPO agents report this type of behavior to the authorities, as well as the lender who hired the agent for the BPO. Under no circumstances should anybody follow this idiots advice and, if you find someone who has or is doing it, I urge you to refuse to work with them on any current or future deals. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4604 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4604 Man, I posted a message last night where I disagreed with your blog. You delete anybody that is not on the same page as you? There was nothing objectionalbe in jy message, just do not see eye to eye on this. I do BPOs for a living. I disagree whole heartedly with your blog. http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4605 http://www.biggerpockets.com/blogs/909/blog_posts/4762-getting-the-bpo-to-come-in-low-#c_4605 The great thing about your own blog post on BP MIke is that we can delete whoever we want. I delete comments left as well when they are as bad as Tim's. I wouldn't want any readers of my blog thinking just because they saw a comment from someone that this was ok in any way shape or form.