BrokerPriceOpinion.com review: nonpayment for bpos ( 48 comments)

The majority of real estate professionals know me from Preventmortgagefraud.com, as well as author of “An American Epidemic, Mortgage Fraud a Serious Business” and I wanted to introduce myself as earlier this year was appointed President of BrokerPriceOpinion.com Inc. and wanted to update you on a few the new developments with our company.

I would like to address any previous concerns that you may have had regarding BrokerPriceOpinion.com Inc relationship with our network of agents. It is a very high priority of mine and it is important for the company that we maintain a professional relationship with the real estate professionals as they are our most important asset.

Michael S. Richardson
President
[protected]
michaelr@brokerpriceopinion.com

We recently launched a ‘next-generation’ V3 platform to enhance our overall product quality and assist in managing our third party partnerships, including our agent network.

This new system has additional features on how we score and track our vendor agents for compliance and payment tracking. We have developed a new process and system to address our vendor’s needs and by implementing these procedures we are in compliance with all of our internal rules, as well as other regulations and guidelines.

We have a panel of more than 65, 000 Real Estate Professionals nationwide in which I have been working very hard the last few months to bring our vendor status current and in compliance. BrokerPriceOpinion.com now has new policies and procedures that require the most current, mailing address & contact information, W-9, Copy of Current Real Estate License, Errors & Omissions Insurance and resumes as applicable, which also has allowed us to track the payments and status.

Our new V3 platform is capable of evaluating data quickly through the use of progressive technology and current local market information. This platform represents a fundamental shift in philosophy behind information systems of its type; the focus is equally on data quality analysis as much as data capture and delivery. The system offers capabilities and features unmatched in the industry, allowing users to easily configure and enforce a virtually unlimited combination of calculations, business rules, and scoring weights.

Our newly hired and restructured operations management team continually reviews and monitors the capacity plan and vendor status. We have developed a reliable set of metrics that enable us to effectively manage the production levels of our customers, employees, vendors.

Please inquire using this e-mail is a confirmation that your request has been assigned a Vendor Management ticket and will be reviewed in the order they are received.

VendorAccounts@brokerpriceopinion.com

Please note the average time to receive a response is 3-5 business days. If your inquiry is about payment please allow the standard U.S. Post office delivery times in addition to the response time.

In order to expedite your request and to be sure that your vendor status is current and compliance with the BrokerPriceOpinion.com policies and procedures, please visit our site:

https://www.brokerpriceopinion.com/Agent and proceed to the tab “Manage Your Account”
In order to be in compliance with all of the current rules, regulations and guideline we always need to have your most current:
• Mailing Address & Contact information
• W-9
• Copy of your Current Real Estate License
• Real Estate Agents Errors & Omissions (E&O) Insurance
• Resume

You can update your information at https://www.brokerpriceopinion.com/Agent and proceed to the tab “Manage Your Account”
If you have any issues or concerns please contact us directly you can call our direct dial number @303-xxx-xxxx
We appreciate your patience and commitment to providing quality and timely Broker Price Opinions as well as your
commitment to professionalism is also to be commended.

You can be sure that we look forward to continuing to do business with you and thank you for your inquiry.

Sincerely,

Michael S. Richardson & BrokerPriceOpinion.com- Vendor Management

VendorAccounts@brokerpriceopinion.com

I too have gotten the run around from their accounting department. I have orders out for over 6 months in arears and when I am able to get ahold of someone I get a vague run around about how they have no money scheduled to send my way and cant commit. I am sure the lenders they service would be interested to know of the practice of not paying their bills. This is a bad reputation on their firm. I WOULD NOT reccomend anyone doing business with them.

I have some BPO's that have not been paid that exceed a year in non-payment. There was some attempt made last year to catch up on these but there are still several outstanding that probably exceed $2, 500. These need to be caught up.

I have yet to be paid for over 30 orders. A fellow RE Agent is due over 100. The best response from BrokerPriceOpinion.com I get is that they are waiting to be paid. I asked the schedulers from the company if they would wait 3 months to be paid and if they were being paid in a timely manner. No Answer! So frustrating. I severed my relationship with them over 2 months ago with hopes of cutting any future loss.
I would like to hear if any one is being paid.

I have completed over 300 total orders for BrokerPriceOpinion.com a FirstVaulation Co., and have NOT been paid for orders that were delivered since before January 01, 2012 (8 months ago). Broker Price Opinion.com, a FIRSTVALUATION company literally owes me thousands of dollars for my work. I dedicated my time and energy in this company and continued in good faith, with the knowledge that I was assisting those within my community to improve their standard of living. I know that it takes money to make money- and I have spend hundreds out of my own pocket to pay for fuel, and expenses regarding the vehicle that transported me to complete the work- not to mention time in my busy work schedule. I have consistently been informed that I am being placed on a payment plan, but have not received a check in months- even then-paying me for work in 2011.
I have now stopped completing ANY work for this company, in fear that they may file bankruptcy - as other companies have done in the past to excuse themselves from paying agents for their hard work.

brokerpriceopinion.com/ First Valuation has $1100 in unpaid receivablesdue me.

When I asked about payment, first they said 60 days. At 60 days, I asked, then I was told 90 days, then payment plan, no payments.

I have been researching the resposnible parties and pssible contacts to assist with my collection. Walter Coats [protected] or [protected], Brandy (Coats) May [protected] or [protected]

995 Alkire Street Golden, Colorado 80401 or 8700 Turnpike Drive Suite 300 Westminster, Co 80033

oh ya, the person answering the phones say michael richardson resigned and no longer works there

Mr. Richardson,
With all due respect. Whatever you are doing isn't working. It has been over a year since you posted and we're still having issues.
You're only as good as your paying clients. The same applies to us. Unfortunately I can no longer perform services for your company...perhaps you should consider the same. As the old saying goes, "If the horse is dead; dismount!"
Respectfully,
Dan Young
Broker

OhioBroker, was told richardson no longer there walter coats and his daughter brand (Coats) May decide who get paid, if anyone
he resposnible parties and pssible contacts to assist with my collection. Walter Coats [protected] or [protected], brandy (coats) May [protected] or [protected]
contact bbb, at least a response
995 Alkire Street Golden, Colorado 80401 or 8700 Turnpike Drive Suite 300 Westminster, Co 80033

I am usually very good about checking blogs to check companies out before I start doing work for them. For some reason I didn't do that for BrokerPriceOpinion.com and now I am no longer doing work for them. I am into them for $120. I did get someone on the phone who told me they paid 90 days out. That's when I googled them and found all the years worth of comments saying they do not pay (even after that 90 days they told me.) But today I received an email from someone with FirstValuations, I did not know they were one and the same. Once I got the order with BPO on it I declined.

Below is the response from Sarah in their accounting department after weeks of empty promises
of payment for over 80 orders "No payments have been made this year on your account. I see that your account was already scheduled for payment. Regrettably, we have fallen behind in our scheduled payments and have not yet been able to send these out. We are asking that you please bear with us a little longer as we are waiting on some receipts to come in so that we may send these out. We know it’s been a long time already and hope that you accept our apologies and rest assured that your orders are indeed scheduled and will be sent as soon as possible." It appears the company is in financial trouble.

mail a complaint letter to the Attorney Generals for non-payment of BPO's against bpo.com, cartel, first valuation, For anyone lse that wants to sedn a complaint against this company here is the address: John Suthers
Office of the Attorney General, 1525 Sherman St., 7th floor
Denver, CO 80203
Main Switchboard - [protected], attorney.general@state.co.us

This should be on other websites and hope that all agents that have been "burned" by this company will send a complaint letter, as the more complaints received the better our chances are of getting these BPO Mills to pay up.

Yes it is all the same promises. I have received a few checks from First Valuation but I am owed for 6 months of orders, I have completed for BrokerPriceopinion.com. They owe me for over 100 orders. I have done work for this company for years always the same get paid in 4-7 months. They call us Vendors. When I was in the corporate world we called the people up or down the line our customers. This company needs help and so does anyone that accepts anymore orders.

I see no alternative other than taking them to court. We are independent contractors who worked without a contract. That is the first mistake. Secondly, if you don't have a contract, you should get paid in advance. Right? Some of this is our own fault for needing work I guess. I finally was paid by Evalonline but I can't get squat out of BrokerPriceOpinion. I thought they were different but they aren't. Probably same owners. No more BPO's or inspections for anyone from me. I am working only with buyers and sellers. They should have to hire appraisers for that kind of thing anyway.

It appears if you file a complaint with the BBB they'll pay.
http://www.bbb.org/denver/business-reviews/real-estate-services/broker-price-opinioncom-in-westminster-co-57000948/complaints

I have been owed by Brokerpriceopinion.com since Aug 2010. Every time I called I was given a date that I could expect payment but that date just kept getting extended. They still call me asking if I will complete BPO's for them. I always respond with the question about not being paid on over a year and a half and get the run around. These people are CROOKS and I advise all Realtors to stay away from them!

I have done work for them and have gotten paid for the orders I have completed. But, I had to wait over 90 days to get paid and I have also made multiple calls. The most recent one was made today and the lady told that they are still running behind and they don't have a date for me. When they assign orders to you, they usually tell you that they need them TOMORROW. Well, they want me to be prompt with my order submission, I expect to be promptly paid for the work that I do. I will not accept any orders from them until I am fully paid for my services. There are a few good BPO companies out there, I can recommend eMortgagelogic.com. Sure, you have to look for work, but if you complete the work, you get paid when they say you will. I hope this could be useful to my fellow brothers and sisters in arms.

My first order came about 4 months after my wife had been doing work for them and had not been paid. My first BPO order came late on Friday evening and I accepted it with a due date on the following Monday at noon. I began filling in the data on the subject but could not proceed beyond the information that I could only obtain from county records because the county offices were closed until Monday. I remembered that I had a Doctor's appointment two hours away and ask to extend the due date until Tuesday. They notified me on Monday morning that they pulled it from me. I told them to remove my name from their list and NEVER call me again. They are a very dishonest company in my opinion.

Broker Price Opinion, must be out of business, in bankruptcy or someting to that affect. I filed a complaint with the Colorado BBB and the Colorado Attorney General, Broker Price Opinion owes me $170.00, they offered to settle for $45.00. The check was to be sent today, [protected], we will see what happens. I will never do any more BPO's for First Valuation or Broker Price Opinion again. I do BOP's for emortgagelogic, they pay every other week, and the checks come like they say they will. The Colorado Attorney General should force Broker Price Opinion (First Valuation) to reveal the names of the banks that paid them to hire realtors to work for them, so the banks know that they were scammed by this company.

I started doing BPO's for brokerpriceopinion.com 10/31/2013. In February I started calling for payment. They told me my they were unable to pay for all my work in one lump sum and sent me and INSTALLMENT AGREEMENT. I signed and returned right away. My first payment was suppose to be sent on March 1, 2013 it was received on March 15, 2013. Waited until April 15, 2013 before I called about my April payment that had not been received. I left several message in the month of April for the supervisors Sarah Sandoval and Ashley Martin neither would return my calls. Today 05/07/2013 I was able to speak with Erika would told me my payment had been delayed. I asked to speak to a supervisor and I wanted someone over Sarah and Ashley to call me back. Erika stated she had know idea who that would be. She had Sarah call me back and stated that she had no agreement for me. I then asked why did I get my first payment then. She did not answer the question and stated they can not pay me for 2 more weeks. I told her since they have no agreement and they don't stand by their word that I wanted payment in full by the end of the week or I would be speaking to an attorney. I will be checking into a class action suit if anyone else is interested. At this time I don't know if there is anything we can do. But they should not be allowed to do this to people. I did just get another call for another assignment, I told the lady I could no longer complete work for her company they don't want to pay for the work already completed. To this day they owe me $1810.

I too have been defrauded by BrokersPriceOpinion.com aka FirstValuation.com They owe me $820. I have never been paid by them, they do nothing but give you the runaround when you call them. They rarely answer their phones, they NEVER return calls so don't bother leaving a message. I think we should all get together and form a class action suit. I really don't care if I get pennies on the dollar and the lawyer gets it all. I just want them put out of business. I also suggest that we as "victims" become proactive and contact all of the banks in the state that you are in and inform them that this company is unethical and fraudulent in it's practices. It is impossible to contact anyone who is an officer of the company, because no one seems to know who they are. I am contacting all of the banks and mtg companies I can find registered to do business in this state and letting them know about this company.

I have done bpos for this company since February, 2013. I have never received a payment for any of the reports I have done. I stopped doing them in August, 2013. I couldn't continue to work for FREE and a company is benefiting from it and not my family. I have called and called and called and no check. They would give us a day and a half to get the report back to them, but it has taken over eight months to get paid for my work. I want to get paid. s.houston

I have the same problem as everyone else that has left a post. When they first started calling me to do BPO assignments for them, I asked them about their payment schedule, and told them what I had heard about their company. They assured me it was a mistake and many people had them confused with a company that was bankrupt called BPO.com. They said the normal turn around time for payment was 60 days. At the end of 30 days I began billing them, I included a self addressed envelope for payment return. I again billed them at 60 days and began calling them. Their response; we are so sorry about the delay, but we are running 90 days behind. Their 90 day limit will be on Monday. I plan to file a complaint with BBB, CO. Attorney Generals office, and the Fair trade commission. If all else fails, I suggest we ban together and find an attorney to file a class action against them. I cannot wait 90 days to get paid. It seems the only Company out here that pays its agents in a timely manner is PCV Murcor, I do have to fight to get these BPOs, but I do get paid!

I have the same exact story as everyone else. It is clear that this is their normal mode of doing business. These people are at the very least liars, and are probably criminals. Can you imagine going to work every day knowing that your job was to lie and steal from people. I too have spoken with Sarah Sandoval and have been told the exact same bundle of lies. I implore all of you to file a complaint with everyone who will listen - BBB, Colorado AG's office, Fair Trade Commission... And if anyone finds ab attorney willing to take on these slimy ###, I'm in. - yet another unpaid sucker of brokerpriceopinion.com

I completed a BPO for them in 2011 and have not been paid either. I would like the $50.00 they owe.

Today is June 4th, 2014. I just sent to John Suther Attorney General for Colorado and Gerrad Lyle Dept of Real Estate for Colorado a complaint against Broker's Price Opinion. This company owes me $530.00, with my first order beiing completed January 11th, 2014 and my last one completed on March 26, 2014. Broker Price Opinion owes me for 13 invoices and has not paid. I wonder why this company is allowed to continue in business.

Here's what I suggest all real estate agents do, and that is to refuse to do business with these companies and demand that the bank call for their service. I will never do business with any BPO vendor ever again. I've been contacted by Centrislink, AVM, REO Solutions, and others and I will never do another BPO unless the bank orders it from me. I think every real estate should adopt this mindset, and not be so desparate to get a check to do BPO's for $40 to $50.00, my time is worth more to me and it should be worth more to you.

I did a rush BPO on May 4th, 2014, run around as well. I have asked if I had all my information in the system correctly, still no pay. Although small in comparison to some, a job is a job and I did my end of the contract. I deserve to be paid for my time and work and still have not. No answer as to if my information was up to date.

Wow, I haven't done a BPO for them in over 5 years and now they are calling me and asking me to do last minute bpo's for them for $40. Thanks for the info guys so now I can politely decline the assignments.

They do not pay the brokers contracted to do BPOs There are hundreds of unpaid real estate brokers who are after this company. They have been in trouble for years. DO NOT USE THEM

Can anyone who's been waiting for 6 months or longer to be paid by this company broker price opinion advise if they are still waiting to be paid in full?

CAN ANYONE PLEASE ADVISE IF THIS COMPANY HAS PAID IN FULL AFTER WAITING LONGER THAN 6 - 12 MONTHS?

Has anyone recently filed a complaint against them with the BBB? If yes, did that help at all? Thanks.

I reported them to the BBB earlier this month and they locked my account...no callback..they owe me $2000

I'm going to give them the time the BBB says they have to respond and then if no attempt to pay is made I may have to look into a class action lawsuit. Of course, I want the money I worked for, but at this point I would love nothing more than for them to be forced to stop this practice. Then the bpo's might go to a company that actually respects their agents and pays them. It's not so much about the money for me anymore as it is justice for all of these agents doing good work then being disregarded while that company laughs all the way to the bank. All these comments on various boards angers me to no end and I feel everyone's frustrations. If anyone is interested in joining in Ill will start posting contact info after the BBB gives them their time up...I think mid Feb.