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A broker price opinion (BPO) is a real estate professional’s dollar estimate of a property’s worth. It is an opinion, but one often backed up by the selling prices of comparable homes in ...
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
These standards and guidelines were created in 2008 by a group of competitors in the real estate industry to bring a commonly accepted set of standards and guidelines. [2] A broker's price opinion is a procedure that develops a two or three-page report containing the estimated value of the property after a real estate agent or broker, following the broker's price opinion standards and ...
The National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
The relationship between real estate agents and the clients they represent is based on trust. Most professionals honor that obligation, but agents are only human. “While the vast majority of ...
A landmark agreement would eliminate real estate brokers' automatic commissions of up to 6%, potentially saving home buyers and sellers thousands of dollars.