Performing Broker Price Opinions BPOs is a source of income for many real estate agents and brokers across the country. Most agents who do BPOs enjoy the steady income from being paid to perform Broker Price Opinions (BPO) which supplement their regular real estate income, especially in the slow times between deals. For most, BPOs provide a nice supplement to their real estate income whereas there are some agents BPOs are their primary income source. BPOs have become an integral part of many real estate agents and brokers business.
Banks, Lenders, asset managers etc. constantly require valuations for various reasons all over the country. Click here BPO reasons. Regardless of the direction of real estate, there will always be demand for BPOs. BPOs have become the preferred valuation method for many organizations involved in the real estate industry. Automated valuations aren’t necessarily accurate, and appraisals usually have more information than is needed, are significantly more expensive, and take longer to get. BPOs are a great happy medium for banks lenders asset managers etc.
A Broker Price Opinion BPO is a cross between a CMA and an appraisal. BPOs have more details and are formal than a CMA but less detailed than a full appraisal. BPOs are more cost effective for organizations who need real estate valuations. More info BPO
Real estate agents and brokers perform BPOs primarily for the following reasons:
- Receive Income
- Opportunities for listings (REO, foreclosure, short sale)
- Marketing Opportunities
- Increased Skills as a Real Estate Professional
- Become a more Proficient and knowledgeable Real Estate Professional