Broker Price Opinion

A broker's price opinion is a broker's or licensed real estate professional's opinion of the value of a property. Like a comparative market analysis (CMA), the broker uses comparable properties (often referred to as comps) to determine the likely value, which is provided in a report. The broker or agent is looking for a minimum of three comparable properties. They can be for sale, pending sale, or sold within 90 days of the BPO. Ideally, the properties will be within a one-mile radius. That radius can be bigger if the property's in a rural area or otherwise lacks comparable properties. When determining what properties are considered to be comparable, brokers account for the property's appearance and condition; the size of the property, including square footage, number of bedrooms and bathrooms, and lot size; the age of home; and upgrades or unique features that may affect the value of the home such as a fireplace, garage, or pool.

An interior BPO is far more accurate than an exterior BPO because the Realtor can see the condition of the home's interior, including any features that would add to or decrease the value of the property. With an exterior BPO, the agent conducting the broker's price opinion can only base their value on an assumption of the interior condition relative to the exterior. It's not uncommon for vacant homes or homes in foreclosure to look great from the outside but be in very poor condition inside, or vice versa.

Real Estate Broker

Sam Holsinger can perform most common commercial,

• Interior-and-exterior BPO
• Income Properties
• Commercial Valuations
• Private Lenders
• Lender and Non Lender Valuations