Agent Performance Ratings Are Crucial to Getting Repeat Broker Price Opinions - BPOs
Most BPO companies rate an agent’s performance for accuracy, timeliness and number of completed orders (accepted orders that were completed as opposed to accepted then reassigned). The highest rated agents will receive the most BPO solicitations, the highest paid BPO orders and may be among the first to receive the REO listings.
I’ll cover the different rating areas in more detail:
1) Accuracy - most BPO company’s accuracy is rated by the number of reports that are accepted vs. rejected by the company’s quality control department. It is important to understand how to correctly complete a BPO in order to keep your accuracy mark high. Even if a BPO report you complete doesn’t perfectly into the guidelines, you need to know how to make the best selections and back up your comps.
2) Timeliness - I suppose I don’t need to say too much about timeliness. Each order assigned has a due date and time. You need to get the order back on or before the due date and time. The earlier you get the report back the better your rating in this category.
3) Completed Orders - This number isn’t simply how many orders in total you’ve completed, but how many of the orders that you’ve accepted, you have completed. Don’t accept orders you can not complete, this will kill your agent rating. Understanding how to accurately complete BPOs from your first order is crucial. There’s no need to “repair” your rating after a bad start.
Other areas of quality - Since you are creating a product for the BPO company that they will then pass on to their client (Asset Managers), it’ important to remember the “little” things that combined make for overall quality, such as:
1) Spelling, Grammar and Punctuation - Make every attempt to spell words correctly, use correct grammar and to use punctuation.
2) Capitalization - Capitalize words that should be capitalized and don’t capitalize words that shouldn’t be and for goodness sake, don’t type in ALL CAPS. The impression in the world about people who type in ALL CAPS = LAZY or computer illiterate, and I’m not sure which one is worse from a BPO company perspective.
3) Review Your Work - Quickly review the areas where you’ve entered comments to make sure what you’ve typed is a well construction sentence, the words are spelled correctly and you’ve used correct grammar and punctuation.
The BPO companies will correct your “little” issues to make a sloppy BPO look professional. If they need to do that to your orders, don’t count on a great quality score. By the way - most of the BPO companies don’t share your rating with you. They say it’s for internal information only.
You can learn more about BPOs and how to complete them accurately for repeat business at www.stepbystepbpo.com
Link: http://a-real-estate.coconia.net/?p=42