This may not apply to most of you but if you’re a real estate professional and you occasionally complete broker price opinions you might want to check out our new free program for creating real estate BPO’s. Wondering what is a real estate BPO? In short a Broker Price Opinion is exactly that, an opinion of value performed by a real estate professional. It is not the same as an appraisal, appraisals hold much more weight but BPO’s are often provided when someone is unwilling to pay for an appraisal. Banks often use BPO’s in conjunction with an appraisal to determine value for anything from a real estate short sale or determining fair market value of a REO (foreclosure listing).
If you have ever performed a real estate BPO you might want to check out the program we created that will make it much easier for you to create a BPO. You can register and log here, Real Estate Broker Price Opinion Program
The program allows you to create BPO, save them online, enter all the details and export and save them as a PDF. It’s very straight forward with a few improvements over what a typical BPO form provides. I would still consider this in BETA testing but it’s just about all done. We will continue to update and improve the program as necessary. You can also submit any requests for changes buy using the Contact Support link.
Here are a few screenshots from the program.
Sample below of BPO cover page
Page 2 example of a completed BPO form exported as a PDF
Filed Under : What is a real estate BPO? Source
When considering a real estate professional to perform a BPO, make sure they are licensed and have experience handling broker price opinions. Anyways can complete a BPO form but it takes a lot of experience to do it correctly.
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