BPO Certification
As a BPO Company, you rely on the skills and knowledge of the Real Estate Professional vendors that perform BPOs for you on a daily basis. Your company may or may not have a BPO training program, but there is a trend in the BPO industry to train Real Estate Professional vendors with a "learn as you go" approach and then to determine a Real Estate Professional vendor's competence level through "trial and error" – on actual BPOs.
Unfortunately, due to the nature of a BPO (there really are no right nor wrong answers – only opinions), unless a submitted BPO is off base, it may be difficult to assess if a Real Estate Professional vendor has completed the BPO accurately, using proper techniques, and by using appropriate logic. Even if your company has a training program, unless you actually test for comprehension, there is no sure way to ensure that the training was effective. Furthermore, most Real Estate Professional vendors work for multiple BPO companies – each with different procedures, forms, and expectations.
Experienced BPO Professionals learn
NABPOP has received good feedback from experienced, seasoned, and proven BPO professionals, with excellent track records and top ratings, that have gone through the certification process. Even the experienced and proven BPO Professionals learned a great deal going through the education and certification process. Some of the feedback about the BPO education and certification that NABPOP has received from experienced BPO Professionals:
• Learned new pricing evaluation techniques which resulted in: o More accurate price evaluations o More consistent BPO submissions • More efficiency – faster turnaround time • Cleared up the gray areas or areas that were unclear • Brought to light areas that they were not aware of
New BPO Professionals
Your organization most certainly have new vendors that are unproven. Obviously, if the new vendor was certified, your organization will take less of a risk that they actually know what they are doing as being certified establishes a baseline of understanding. Encouraging or requiring a NABPOP BPO certification could act as an excellent gateway for unproven vendors.
Imagine how reassured your clients and customers will be if they know that the Real Estate Professional vendors that do BPO work for you are certified by an external unbiased organization. Giving your current vendors, that are NABPOP certified, preference on BPO orders could send a message to your non-certified vendors which may give them the impetus to further educate and train themselves to become BPO certified in turn becoming better vendors for your organization more on proven vendors. NABPOP Certified Real Estate Pricing Specialists (C-REPS) performing your BPOs will significantly contribute to your overall success not only with your clientele’s piece of mind, but with the overall improvement of BPO submission quality and consistency.
Improved BPO quality and consistency will mean fewer rejections and subsequently reduce BPO turnaround time. Vendors with a higher level of education and training tend to be more effective and efficient which will also contribute to more on time submissions.
The BPO certification test is a 1.5 hour comprehensive online exam available to professionals of the BPO industry (NABPOP members and non-members). The Certification Test is based on the tips, techniques, and procedures of NABPOP’s BPO Education and BPO Resources Sections. Members of NABPOP have full access the BPO Education section and the BPO Resources Section.
The test is stringent and not everyone passes the test. Although only one passing test is required to certify, it takes an average of 4 tests to certify. This is not a “gimme” test and not everyone certifies. There is a review at the end or each test taken that describe what questions were missed and provides the theory and logic on how to get the answers right. The review also refers to the education section for further studying.
BPO Certification Test and Education Generation Process
The BPO Certification test is dynamic to meet the requirements of the valuation industry. The test has evolved and will continue to evolve to meet the dynamic needs of the valuation industry.
NABPOP seeks to make the most comprehensive and relevant test possible. We welcome as much input as possible to validate existing test versions and to develop future test versions.
The BPO Certification Test is produced and progressively evolves with the following process (overview):
• Test questions are generated using a variety of inputs • Questions are evaluated, categorized, and weighted • Questions are compiled and published in a beta test • A beta test group takes the test and provides feedback. Questions are validated statistically • Questions are refined based on validation and feedback. NABPOP BPO Education section is updated to accommodate necessary study material for the test. Education Section updates are announced and referenced via newsletter. • A version number is assigned and the test is published • Live questions are monitored and tracked statistically on an ongoing basis. • Repeat process. more on Cert Test generation
NABPOP fosters an environment of continuous learning and improvement
After a NABPOP member certifies, they have incentive to continue studying and improving. NABPOP’s Directory of BPO Professionals is sorted by certification score AND test date. The highest certification score and the most recent/current test date sort to the top of the Directory. This drives NABPOP members to not only certify, but to continuously study and refine their skills to raise their score. Once a high score is achieved, members strive to stay as current as possible.
Organizations that utilize BPO Certified Professionals enjoy the following benefits:
• Consistent BPO Submissions • Accurate BPO Submissions • FasterBPO turnaround time • fewer Rejections/Reworks • More efficient vendors
The skills, knowledge, dedication, and perseverance required to prepare and pass the rigorous BPO Certification Exam are the qualities that are needed to perform proper and accurate Broker Price Opinions.
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