BPO – Broker Price Opinion

Broker Price Opinion is a Broker or Real Estate Agents opinion on the value of a home. It is not a formal appraisal, just an opinion. Depending on circumstances surrounding the request the opinion may be more detail or lacking detail then another opinion given.

There is not an industry standard for giving BPO’s as required by licensed appraisers.

Appraisals and BPO’s are written for a specific date, and are only valid for the date written.

Only licensed agents can write BPO’s, and they are usually written at bank’s request for short sale or foreclosure.

I completed the National Associations of Real Estate Broker BPO certification program know as Certified Valuation Specialist, because at one time there was talk that this certification was going to be required to continue to perform BPO, I follow there guidelines for creating BPO’s.

When it comes to value of home the only price that matters is what a willing and able buyer is willing to pay. My opinions, agent x opinions, broker y opinions really do not matter.

Many times we do not know all the factors that played a part in a home sale to be able to determine if those factors will be present for the next home sale, such as financing, personal preference, distressed sales, urgency for living arrangement, short sale, foreclosure and sellers net all played a role.

What really matters is getting able and willing buyers to your home and getting them motivated enough to negotiate with you on the sale.

If you want my opinion, please contact me at alldoneauction@gmail.com