Commonly, real estate agents analyze and complete broker price opinions, commonly referred to BPO’s.
Real estate agents can make money per BPO assignment performing Broker Price Opinions.
Why Do Real Estate Agents Do Broker Price Opinions?
There are two main reasons why real estate agents are hired to complete broker price opinions. Price & Expertise.
Price:
The reason why real estate agents are hired to complete broker price opinions is due to price. You see, banks are the main clients who hire real estate agents to complete BPO’s.
If the banks were to hire appraisers, the cost would be significantly higher. Even 10 x higher. So this is an affordbale way for banks to hire experts to anaylize the value of real estate “without breaking the bank.”
Expertise:
The second reason banks hire real estate agents to perform BPO’s is due to their expertise in valuing real estate. Even new real estate agents can get on this making great money performing BPO’s.
If you are a new or veteran real estate agent looking to make $50+ per day doing Broker Price Opinions, be sure to check out this step by step course on how to get BPO assignments FAST!