The Real Estate industry and the BPO industry are certainly skilled professional industries with the need for certifications. NABPOP Members distinguish themselves and increase their BPO credibility by obtaining a BPO Certification from NABPOP. Active BPO certified members of NABPOP receive the C-REPS designation (Certified Real Estate Pricing Specialist).
The NABPOP BPO Certification and C-REPS designation are recognized throughout the BPO Industry. Many BPO/REO Companies give extra consideration for certified BPO vendors.
Performing Broker Price Opinions BPOs is a great way for real estate agents and brokers to make extra real estate income. agents and brokers often have inconsistent Real Estate income flow between deals. Performing BPOs not only put agents and brokers in their service area in front of potential clients, agents and brokers get paid to do BPOs increasing their real estate income. Performing BPOs can also be an “in” with banks and lenders to get REO/foreclosure listings further increasing real estate income.
C-REPS is a great designation for any real estate agent or broker to have. Not only does the C-REPS designation bring opportunities for more BPO work, the C-REPS designation is also a great avenue for more exposure and marketing to the general public. C-REPS are marketed to the general public i.e. people who are looking for a real estate agent/broker. Obtaining and maintaining the C-REPS designation sets agents & brokers apart from average real estate agents – “Price is one of the most critical parts of any transaction – buying or selling. Be sure your real estate agent or broker has the skills and knowledge to accurately determine prices”.
What is a C-REPS? Certified Real Estate Pricing Specialists (C-REPS) is a member of NABPOP who has passed the BPO Certification Test and meet the criteria to maintain the C-REPS designation. C-REPS are technically proficient at performing BPOs and contribute the the Body of Knowledge encapsulated in the NABPOP association.
In short, C-REPS are:
Technically Proficient at performing BPOs
Contribute to the Body of Knowledge encapsulated in the NABPOP Association
In spite of popular assumptions, valuation is not part of real estate licensing requirements; although, valuation is an integral part of real estate. Typically, the extent of a real estate agents valuation knowledge is performing a CMA – Comparative Market Analysis which is learned after receiving their license (not as a part of the licensing requirement). Most agents acquire their valuation knowledge and skills by trial and error and/or are taught by someone who acquired their skills and knowledge through trial and error. C-REPS are formally trained and tested in proper valuation techniques.
Members of NABPOP who are BPO Certified are conferred the designation Certified Real Estate Pricing Specialist – C-REPS. NABPOP provides members with a comprehensive BPO Course which has become the gold standard in the industry. The BPO Certification Test is a stringent test which was designed to test for true comprehension of the BPO process and not simply good test taking abilities. The initial failure rate is relatively high, but study materials are provided at the end of each test in order for members to identify their weaknesses and to further their studies in those particular areas. In short, the BPO Certification Test is not a “gimme” test, NABPOP members who pass the test have demonstrated a true understanding of the BPO.