Broker Price Opinion companies for agents. This site provides a large list of BPO companies and REO companies.
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BPO Broker Price Opinion vendors are broke down in multple lists- click below to start.
This is a up to date list of active Broker Price Opinion companies in the BPO field today.
What is a Real Estate BPO and/or a Brokers Price Opinion?
Rather than having a traditional home appraisal. Lenders / Asset Management companies are getting their needs fulfilled with broker price opinions provided by real estate agents. Its much more cost effective and can be done in a timely manner. Real Estate Agents, Brokers, and appraisers conduct broker price opinions. Typically employed by Broker Price Opinion companies as independent contractors.
BPO Report covers current market conditions, neighborhood characteristics, subject property condition and characteristics, then its compared to 3 current comparable listings and 3 sold comps (usually sold within the last 6 months - some companies ask for no more then 3 months on individual cases.)
BPO (Broker Price Opinion) are pretty much straight forward. The BPO agents job is to provide a fair market value estimate. Similar to what an agent does when they complete a CMA for a listing presentation. BPO Companies provide a form used to input data.
BPO Photos / BPO Pictures - most BPO companies require at least one photo of the front of subject property, one photo of street view, and a photo of address (either the numbers on the house or the mail box) Some Broker Price Opinion Companies will request a side photo (Plus any damage / repairs that effect subject property value). Its a good idea to take a couple extra pictures just in case. (When doing an interior bpo pictures of every room is required, plus any damage the bpo agent thinks has influence on the value.)
Broker Price Opinion Tools. - Computer with Internet access and a Digital Camera. GPS systems can be great help when doing lots of BPOs.
BPO Income - Usually a drive by BPO pays $45-55. Interior BPO's average about $65-85. Rush BPOs which need to be done ASAP can pay an extra $20-30 on top of the base price. The total income depends on how much work an agent does. Some agents do a couple BPOs a week and others can average $1000-2000 per week. This isn't an exaggeration, lots of work is required to reach and stay at that level.