Certified Real Estate Pricing Specialist
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.