Agents and Brokers – Keep Working
Agents and Brokers across the country are paid to perform BPOs
A Broker Price Opinion – BPO is a valuation/price opinion report.
Keep working – Performing a BPOs does not violate social distancing requirements & RE valuation work is considered essential.
Drive-By BPO = Stay in your car
Banks, Lenders, Asset Managers, AMCs, GSEs pay Agents & Brokers for BPOs. During the shutdown, Agents & Brokers are being paid to do valuation work for:
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- Refinances/Loan Modifications/HELOC (due to low interest rates)
- 1st step in REO/Foreclosure process (due to economic shutdown)
- (multiple BPOs are ordered thru the entire process)
Agents and Brokers are earning Real Estate income now instead of staying home. After the shutdown, BPO volume will go up.
When the economy goes down = REO/Foreclosures go up = BPO volume goes up
Even when nobody is buying houses, BPOs stay in demand. The last economy and real estate crash the majority of Agent and Broker income was from BPO performance which led to REO/Foreclosure listings. Many Agents and Brokers survived (even thrived) due to BPO and REO work.
The line is forming now. The longer you wait, the longer the line will get.
Join as a Full Member of NAPBOP – Get Started Now
Free to Register – Real Estate Pricing Network
Certified Real Estate Pricing Specialist
Members of NABPOP – the National Association of BPO Professionals – who are BPO Certified – hold the Certified Real Estate Pricing Specialist C_REPS designation. C_REPS is the fast track to getting BPO work. Holding the C_REPS designation will save you time and money both in the short term and long run. Go to the front of the line with the C_REPS designation.
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- Proper Pricing/Valuation Procedures
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- Accurate as an Appraiser
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Get Started Now
- Join as a Full Member of the National Association of BPO Professionals NABPOP
- Become BPO Certified and earn the C_REPS designation
- Sign up with Banks, Lenders, AMCs or Update your BPO vendor profile with your BPO Certification status (directory available to Full Members)
- Get BPO jobs to develop your BPO vendor rating
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- BPO vendor rating is a consideration for awarding REO/Foreclosure listings
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You can join the RE Pricing Network for free as a basic member today. The RE Pricing Network will get you on the radar screen for BPOs.
Gain and Maintain Pricing/Valuation Skills – Stay in practice
Even if you never do a BPO, RE Pricing and Valuation is an Apex Skill which will only make you a better Agent or Broker. Some Brokers required their subordinate Agents to perform BPOs to develop them as Agents. Most un-certified Agents and Brokers only kind of know how to do valuations and pricing. Every Agent and Broker who is serious about Real Estate, in general, should know how to do proper amenity valuations and pricing. Real Estate Pricing is an Apex Skill.
C_REPS are just as accurate as appraisers.
Click here to Learn More about BPOs
Get Started – click here to see options to Get Started Now
good information, i didn’t even consider doing valuations but i will now
No sure what your area pays for a Broker Price Opinion, however, in my area in South Florida (Ft. Lauderdale), banks only pay $35 to $45 for a BPO. Sincerely, this isn’t worth the time and effort. As appraisers receive $300 and up from lenders, I would believe as professionals we should receive a minimum of $150. Based on membership, I would need to perform 8 BPORs just to pay the initial fee of $220 plus $75 for the annual fee on membership. With no disrespect intended towards any BPOR or this organization, I am curious to know if the members work for these low fees? I have my BPOR and PSA (which by the way is the identical course to the BPOR designation that was discontinued). Would sincerely appreciate feedback. Thank You
Fees vary between BPO companies. There are some BPO companies who pay much higher. Typically, the companies who low ball agents are companies who don’t care about quality or accuracy, so they will ask just any agent to do them with little regard to quality or accuracy. NABPOP advises turning down low fee BPOs. As long as agents accept these fees, then this will be the baseline fee. Again, there are quality oriented BPO companies and AMCs who pay higher fees. Most NABPOP members work for these companies. If you’re worried about the membership fees, if you got work from one of these companies, you’d make your money back much quicker. These companies want C_REPS working for them because they know C_REPS are the most qualified BPO agents, so they use NABPOP’s directory to locate C_REPS. So many C_REPS are making more per BPO.
Many NABPOP members perform BPOs more for the pricing skills rather than the amount of money they get paid to do them. They look at BPO work as keeping close to the market and sharpening their real estate skills – and getting paid to do it. There are some members who focus on BPOs and make a very good living doing it.