Support - The Agent Center - Saturday, September 05, 2009
Flat Fee MLS – Lost Lead Generator
My last post about BPO’s and all the hype about winning the opportunity to complete an $80 transaction…got me thinking!
When and why did utilizing Flat Fee MLS listings as an additional lead generator get such a bad rap?
Think about it…you earn $249.00 on up and with most systems being completely automated the work involved should take less than 30 minutes. You also gain direct access to a live one (seller) that most likely will get frustrated and need agent representation…and you’re first in line. Now that’s a lead generator! More Money…Real Sellers…Frontline Positioning.
I know, I know you may get picked on by fellow industry professionals…but why? Why is there an overall feeling that you have “sold out” if you take on a limited service listing or flat fee listing? It’s O.K. to solicit FSBO listing and turn them over, it’s O.K. to hound distressed NOD owners for a listing and it’s surely O.K. to sit on your computer waiting for a BPO order. What’s the difference? Maybe jealousy, jealousy you were willing to break out of the gossip mold.
Besides, I’ve already been sold out by my own MLS system that offers a consumer website with the exact same information on it, taking away a little of my edge. But that’s a whole different blog.
Every state has a different outlook on what constitutes as a “limited service” and whether or not they allow for a Flat Fee MLS Services. Before you enter into this arena make sure you know what the minimum services are required of you.
Limited Service - Flat Fee MLS State Guidelines
Also, it is extremely simple to register for these types of leads. Search for companies like For Sale By Owner, The Homeowner Center, Owners.com and so forth.
I don’t fault homeowners for trying to figure it out on their own…a little gumption is admiring. But I will be there to pick up the pieces, and why not?
Christina Inman
CEO, The Agent Center
- Trackback Link
- http://www.theagentcenter.com/BlogRetrieve.aspx?BlogID=4193&PostID=84384&A=Trackback
- Trackbacks
- Post has no trackbacks.
Support - The Agent Center - Friday, September 04, 2009
Help me out here, I’m so confused…
In a tough market we are all scrambling around to find the answers or an edge to stay afloat. So, it does make sense that agents would venture into unknown areas in hopes of creating supplemental income and maybe even picking up a lead.
What I don’t understand is that we have all jumped into a world of “BPO’S” where racing to your computer to catch an $80 transaction almost seems normal. I think we all got so wrapped up in the BPO phenomenon nobody even remembers why they are doing them? Is it for the 80 dollars? Is it to build a relationship with bulk BPO companies? Help keep “their” lights on with our territory or zip code fees? Why? Honestly can you remember…I can’t? Don’t be shy, I’m not the only one out there.
There is also a lot of hype that you can earn thousands of dollars in a month with very little to no time necessary…if someone is out there catching 25+ BPOs a month – let me know.
$2,000.00 earned divided by $80.00 = 25 BPO’s | 1 hour average per BPO = 25 hours (Not Bad)
Everyone I know averages more like two a month earning them $160 and me; I can’t seem to respond fast enough to catch any at all. Add in the zip code fees, time and gas, I would have to say most agents may be paying money to complete a BPO, I am. Yikes!
So, let’s say you’re ready and willing to work for free or even at a cost in hopes for an REO listing. Does it really work that way? I’m being “sold” that strong BPO presence will earn the right to get listed on a master REO directory, giving an agent a fair chance to pick up a bank owned listing. But all I’m seeing are BULK BPO companies that the lenders have hired to complete just that…BPO’s. As a matter of fact they don’t even dish out listings.
Seriously, am I missing something? Besides lunch money what exactly is all the BPO hype about?
Christina Inman
CEO, The Agent Center
- Trackback Link
- http://www.theagentcenter.com/BlogRetrieve.aspx?BlogID=4193&PostID=84314&A=Trackback
- Trackbacks
- Post has no trackbacks.
Comments
Post has no comments.