BPOs… one reason your short sale gets approved and what helps set the list price and price reductions for REO properties. While many agents are happy taking pictures and filling out reports in their home markets others are extending themselves beyond their primary areas.
Our regional MLS covers the Reno/Sparks suburban market, Incline Village/Lake Tahoe areas, surrounding farmland, and the far outskirts of the high desert. That leaves a lot of room to cover and photo adventures can be up to 5 hours round trip. With gas prices nearing $3.50 a gallon these long trips don’t always pay for themselves. While most agents won’t step foot in a car unless they see thousands of dollars at the end I think BPOs can be more than supplemental income.
There are three redeeming factors for the potential long drives involved with BPOs.
- Staying up to date on market conditions. While everyone drives their clients around to different areas and has a general idea of price per sqft of those areas BPOs allow agents to have a detailed view of neighborhoods and cities. I don’t always print CMAs when taking clients out. Having prior knowledge from BPOs allows me to speak more freely about comparable prices compared to the “I’ll check when we get back to the office”. It also keeps me current on other potential homes that my clients may like.
- The Scenery. The natural landscape of Nevada provides amazing views and scenery. From our snow capped mountains to fertile farmland the nothern part of the state contains much beauty. The pictures from this post are of my trip to Incline Village in Lake Tahoe today, about a 1.5 hour round trip including taking photos. Not a bad break from staring at my off white textured walls and bookcase all day.
- Peace. With offers, counter offers, addendums, phone calls, and emails taking up most of my day the long drives give me time to recombobulate. Just myself, the road, and beautiful scenery to make all the busyness go away. I know I’m going to get hammered by the hardcore lead generators about spending this time to make calls and follow up but sometimes we just need to settle down and enjoy what God has given us.
While BPOs can be profitable I think their secondary offerings can be just as appealing and important. How far have you or how far are you willing to drive in order to recover your peace and sanity?