What is BPOR?[/highlight][spacer]
The Broker Price Opinion Resource (BPOR) certification is specifically designed to help residential real estate agents and brokers enhance their skills in creating Broker Price Opinions (BPOs), reducing risk, and applying alternative valuation techniques. [spacer]
Why use a BPOR REALTOR®?[/highlight][spacer]
The current housing market presents many challenges to our real estate industry, few more important than valuation. Evaluating properties depends more than ever on professional expertise and competence, the best use of technology, and a commitment to approach the valuation assignment from all pertinent perspectives.
According to industry estimates, more than 10 million BPOs are performed annually throughout the country. BPOs provide critical information for decisions, and have been widely adopted as a valuation tool in the mortgage industry and – increasingly – for government programs intended to aid the economy and help homeowners avoid foreclosure. [spacer]
What is a BPO?[/highlight][spacer]
Broker Price Opinions (BPO) – an alternate real estate valuation used by financial institutions, Appraisal Management Companys (AMCs) and others. It is not considered a licensed appraisal, but can be used by AMCs to cross check appraisals, help determine the value of REOs, short sales, foreclosures and bulk packages of mortgage loans and due diligence for financial institutions. A BPO is usually a brief 2-3 page report, which includes neighborhood analysis of the property, comps (comparable properties), and local as well as regional market information.
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