Agent2Agent BPO Broker Price Opinion, on Exteriors Do You Get Form
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People also ask
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Who may provide a broker opinion of value or BPO?
A broker price opinion is an estimate of a property's value done by a real estate broker or other qualified professional. Though only an estimate, a traditional BPO is based on the sales of comparable properties in a given neighborhood. Usually, a BPO is used as part of the listing agreement when selling a house.
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Is a BPO better than an appraisal?
An appraisal is far more detailed than a BPO. Appraisers consider a range of factors including the condition of the property, local market trends, zoning, and any legal issues affecting the property. They also conduct a deep analysis of comparable properties and historical market data.
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What does a broker price opinion not include?
A broker price opinion is based on the characteristics of the property being considered. A BPO is not representative of an official appraised value, nor will it necessarily correspond to a property's market value.
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What does exterior BPO mean?
Types of broker price opinions External BPO: An external BPO is much less involved. The real estate agent doesn't even enter the property, but instead assigns it a value based on its exterior appearance/condition and its location.
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What is the most common reason that a broker price opinion is used?
Bankrate defines a broker price opinion as “a real estate professional's opinion of a property's value.” In short, it's a realtor's opinion of value. A BPO is a convenient way to assess a property's estimated value and is typically used as part of the listing agreement when selling a house.
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What does a broker price opinion include?
A broker price opinion (BPO) is an unofficial assessment of a property's potential market value based on expert judgment. A BPO is often based off of qualitative and subjective factors such as neighborhood characteristics, curb appeal, and if the market is 'hot' or not.
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What is the most common reason that a broker price opinion is used?
Bankrate defines a broker price opinion as “a real estate professional's opinion of a property's value.” In short, it's a realtor's opinion of value. A BPO is a convenient way to assess a property's estimated value and is typically used as part of the listing agreement when selling a house.
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What does a broker price opinion look like?
A broker price opinion is an estimate of a property's value done by a real estate broker or other qualified professional. Though only an estimate, a traditional BPO is based on the sales of comparable properties in a given neighborhood.
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