Completing accurate BPO’s are an important part of how asset companies grade you. One entry that is important is the distance. It may seem small but it is important. At times, it may be difficult to locate comps that are not within the specified mile range. You man be tempted to guess at the distance in order to finish the BPO on time or just to cut corners. Usually if you can not find comps within the specified mile range, the asset manager will allow the real estate agent to add comments as to why the comp is outside of the mile range.
This is an indication to the asset manager that you put the effort and work in to try to find comps within the mile range, but it was not possible. Asset managers understand that and that is why they would like you to add comments as to why you chose the comps that you chose.
Also be sure to use tools to check your distances. Many REO/BPO clients have sophisticated software that analyzes each BPO and checks for mistakes. If your distances are incorrect your BPO will be rejected, your score will decline and you will receive fewer assignments.
Use one of the tools below to make sure your distances are accurate, your BPO scores will increase and you will receive more assignments.
If your clients specifies the driving distance between your comps use Google Maps http://maps.google.com/.
If your client wants the straight line distance use this website http://www.gpsvisualizer.com/calculators.
To your continued success!
