Select an option below to see how REO SOLUTIONS will make a positive impact on your business.
BPOs - Have you ever done a BPO and not been paid for your service? At REO SOLUTIONS – your check goes out immediately! NO WAITING! Additionally, by performing BPOs for REO SOLUTIONS you automatically become eligible to secure REO listings.
LISTINGS - REO SOLUTIONS assists clients by locating the right experienced REO agent to sell their listings.
FREQUENTLY ASKED QUESTIONS
What does it take to join REO SOLUTIONS?
Your contact information
Your Company Tax ID number
Your Errors & Omissions Insurance Policy number & Expiration Date
Your License number and Expiration Date
How much does it cost to join?
It's FREE to join REO SOLUTIONS and it takes just a few minutes to complete the sign up process!
When will I be paid for BPOs?
Payment will be issued within 30 days of order completion!
Can I be paid as individual instead of my company?
No, all checks are cut directly to the brokerage.
Will I get the listing?
It is REO SOLUTIONS' policy to be honest and up front – while we cannot guarantee each and every BPO will result in listing the subject property – we are very loyal to the agents who complete assignments in a timely and accurate manner and we reward those agents with listings.
How can I get more BPOs or Listings from REO SOLUTIONS?
The quality and timeliness of your BPOs are critical to your eligibility for listings. Please take a moment and review the Quality Control Standards section.
How does the online system work?
First you must sign up, once approved - you will be notified of an order in your territory by phone and/or email, simply login into the REO SOLUTIONS system and confirm the order. All the specifics you need are in the order details and all the work is done within the online system. No special software is required. It's that simple! No need to mail hard copies or spend your hard earned dollars on costly overnight deliveries.
What if I cannot locate the subject property?
The order details should include everything you need to locate the subject property, if for some reason you still cannot locate the property use the resources below before calling REO SOLUTIONS:
-Our system includes a built-in mapping reference - just click.
-Search the County Tax records. You will need to contact the tax office to retrieve the pertinent property data such as age, lot size and square footage to accurately complete the BPO anyway and the county/city can usually answer location questions as well.
-MLS search – sometimes you can find an expired listing for the subject property, which will contain valuable information about the subject including directions.
-US Post Office can often provide directions. USPS.com has a ZIP CODE search, which will tell you the county and you can also use the Locate A Post Office search to get the local office’s phone number.
-Fire Department can also be a useful tool in locating a property.
What if I find personal property on the premises?
Under no circumstance can any personal property be removed from the subject property. REO SOLUTIONS does not permit the removal of any personal property and doing so could result in felony criminal charges.
Quality Control Standards
Please remember the reader of the BPO is not familiar with your area and needs as much information as possible. Therefore it is required you complete every blank on the form to help the reader understand the market and how the subject property conforms to that market.
Submitting the required report on time is absolutely critical. Late reports can result in missed deadlines for clients and can cost you listings.
MLS systems, other local Realty agencies, tax records, Realtor.com and local title companies or closing attorneys are all excellent and acceptable sources for comparable sales and listings.
Every attempt should be made to use comps located within one (1) mile of subject and with a closed date no more than six (6) months old for sold comparables. If necessary you may use comparables further away and up to one year old, as long as you include an explanation in the comments section of your report.
Using comparables of like style, age, square feet and lot size to the subject will best support your value and any variances will need to be explained in the notes section.
Following these standards will eliminate the need for quality control follow up calls and will ensure your check is sent out immediately.
How many photos do I need?
Each assignment has different requirements be sure to read the instructions before going to inspect the property, as some orders also require comparable photos.
How do I submit photos?
Your photos will need to be in JPEG format. Click on the Forms Tab and select Add Photos from the drop-down menu. Simply click on “browse”, locate the photo you wish to upload from your PC and click upload.
How do I submit my Invoice?
No invoice is required so long as we have your company W-9 with your company's tax ID number.