Getting into the world of BPOs and generating consistent, BPO leads is one of the best ways to guarantee a constant flow of income for your Real Estate business. The following is a list of tips and tricks the top agents have used to start and grow their BPO and REO business.
Using these steps and HARD WORK, you can dominate the BPO and REO market in your market.
Step 1: Find The Banks
You can be the best agent in the world, but if the banks, asset managers and lenders don't know about you, you'll never earn a dime. You need to start by finding an up to date, quality list of companies that need BPO's done for their properties.
You can start by calling local banks, lenders etc, but the fastest way to break into the BPO business is to purchase a list from a reputable provider. Much time should be spent on finding the right list. There are many review sites available to help you make the right choice. Remember, if you don't focus on the right BPO leads, the next steps are worthless.
You can start by calling local banks, lenders etc, but the fastest way to break into the BPO business is to purchase a list from a reputable provider. Much time should be spent on finding the right list. There are many review sites available to help you make the right choice. Remember, if you don't focus on the right BPO leads, the next steps are worthless.
Step 2: Impress The BPO Leads
Most agents will simply email or call the BPO leads and request to be added to their list of authorized providers. WRONG!
In this market, these companies are getting dozens of these calls. You need to be remembered by them!
The key to doing this is treating the BPO leads like you would any other real estate client:
* Email them weekly with stats on your market
* Mail them promotional items with your logo / contact information
* Mail them every month with a memorable item (holiday postcard, sports schedule, etc)
Doing this one simple step will put you head and shoulders above the rest of your competition!
In this market, these companies are getting dozens of these calls. You need to be remembered by them!
The key to doing this is treating the BPO leads like you would any other real estate client:
* Email them weekly with stats on your market
* Mail them promotional items with your logo / contact information
* Mail them every month with a memorable item (holiday postcard, sports schedule, etc)
Doing this one simple step will put you head and shoulders above the rest of your competition!
Step 3: When you get a BPO, WOW your client!
Most asset managers have literally hundreds of BPOs they issue every week. If you can get them to remember your BPO and your name, you'll get the next BPO lead they have in your area. It's easy to be remembered by these lenders. here are a few tips:
* Personally email them and Thank them for assigning you the BPO lead.
* Send them a Hand Written tahnk you card
* Do a great job on your BPO (many agents forget this step)
A simple thank you can go a long way to helping a BPO client remember you and provide you future BPO leads!
* Personally email them and Thank them for assigning you the BPO lead.
* Send them a Hand Written tahnk you card
* Do a great job on your BPO (many agents forget this step)
A simple thank you can go a long way to helping a BPO client remember you and provide you future BPO leads!
Step 4: Use the right tools:
Many of the daily tasks of a BPO agent can be repetitive. Using the right tools can help you spend your time on the tasks that turn your BPO leads into consistent BPO earnings.
But beware! Many of the systems available are worthless. Do your research before you give anyone a single dollar. Our review site tells you the best and worst tools available to help you generate and service BPO leads.
But beware! Many of the systems available are worthless. Do your research before you give anyone a single dollar. Our review site tells you the best and worst tools available to help you generate and service BPO leads.
Step 5: Repeat
Getting into the BPO business is hard work, but if you follow the above steps and consistently make contact with the right leads from your list, you'll be amazed at the results you'll achieve.
DON'T GIVE UP!
DON'T GIVE UP!
