Broker Price Opinion Defined
A BPO in real estate is short for Broker’s Price Opinion which is an opinion of value of a specific piece of real estate performed by a real estate broker or real estate agent.
A Broker Price Opinion is created by analyzing the subject property along with 3 ideal active comparables and 3 ideal sold comparables to arrive at a fair market valuation.
If you have been in real estate for any period of time and had to provide a CMA, Comparative Market Analysis, for a seller then you can see how this is very comparable to a Broker Price Opinion.
Broker Price Opinions are a great way for real estate agents to really hone in on their skills in evaluating real estate. Which can be a common detriment to a real estate agent’s business.
Broker Price Opinions not only can provide good income for real estate agents but also will be beneficial in securing listings, providing values to buyers so they are not overpaying and having an understanding of market value on any property.
If you are a real estate agent looking for an additional source of income, Broker Price Opinions can be that source.
Below is a LINK to our course on how to become a Broker Price Opinion Pro! If is a very inexpensive course for the value it contains.