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Benefits of Doing BPO’s

• Make money in between real estate sales
• Start up your own full-time business that can grow with you Have more freedom and time on your hands
• Spend more time with your family and work from home Learn a business you can always fall back on
• Earn extra money doing something that will enhance your career

How will I receive the Guide/Directory?

Purchase the e-book! Upon completed payment receipt you will receive a confirmation page with immediate download instructions. Follow the instructions for the download.  YOUR E-BOOK IS SENT IN PDF FORMAT. 

What are Broker Price Opinions?

It is a professional opinion provided by a Realtor or a broker telling you what your property is worth. Simply put, a Broker’s Price Opinion is a Broker’s/Agent’s opinion of a property’s market value or a Comparative Market Analysis (CMA). It is more detailed and subject-specific than a Comparative Market Analysis.  It is not an appraiser’s report.  A Broker Price Opinion BPO is a substitute for an appraisal that lenders use to make financial decisions about Real Estate. While BPO’s are requested for a lot of reasons, the most common reason BPO’s are ordered are for default services, REO’s, Foreclosures, Short Sales. Banks, Mortgage Brokerages, Asset Management Companies, Investment Managers, and Consumers across the US request BPO’s from Valuation Service Providers who recruit Real Estate professionals to complete these reports and PAY you for your services!

 In a nutshell, it goes like this:

1. You get an order/request;
2. You visit the property;
3. You take photos of the property;
4. The opinion of the value is input in a report, which also includes a photo of the property (subject property), neighborhood and market conditions, and usually requires 3 sold comps and 3 listed/active comps;
5. You send them your opinion of the market price for that property.
6. You get paid.

How much do BPO’s typically pay?

On the average Broker Price Opinions pay:

• $45 – $150 Drive-by Exterior BPO’s –You drive-by the subject property and take outside photos of the subject.
• $75 – $200 – Interior BPO’s – These are orders that require you to go inside the property.
• $15 – $30 - Property Condition Reports – These are also Drive-by Exterior BPO’s, however you do not have to run comps for this report. You usually answer about 10 – 20 questions about the property.

 Who can perform Broker Price Opinions?

A Real Estate Professional with an active license can perform Broker Price Opinions. Real Estate Professionals defined as:

·      Licensed Real Estate agents/salespeople (Agents: Some states require you to receive checks through your employing broker. You may also want to check with your Broker to see if you can perform this type of work)

·      Licensed Real Estate Brokers

·      Licensed Appraisers

What equipment do I need?

1. A Computer with Internet access.
2. Access to the Multiple Listing Service that covers the areas you want to service.
3. A digital Camera

Are there fees to sign up with the companies?

It is completely free to sign up with the companies and start receiving BPO’s!  Register on their website and usually within 2-3 days they will send you something acknowledging your registration. It may be an email, or request for additional license information and website logins and passwords. It is that easy!

How steep is the learning curve for someone who has no experience?

Without the instruction book (INCLUDED IN THIS PACKAGE) your learning curve might be as long as 3-4 months to get the hang of it and develop a system that works for you. But having this book, helps to reduce this time to 2-3 weeks. Most of that time is getting set up with the BPO companies. Buy Now!!

What information do I need to get started?

The items you need to sign up with the companies are simple:

1. Your Broker/Agent/Appraiser’s license.
2. A copy of your driver’s license.
3. E&O Insurance.
4. Access to your local Multiple Listing Services (MLS) of the area you plan to service.

Is there liability as a Realtor for doing BPO’s? Can I get sued?

Almost every company that I have ever completed a BPO for has disclaimers on their reports letting the person receiving the report know that this “IS NOT AN APPRAISAL.” Additionally, if it is not on the reports, it has been addressed somewhere in the registration process.  Remember, it is “an opinion” of value. I’m not saying it is impossible, but you have a better chance of winning the lottery. Also, you should note that as Real Estate professionals, E&O insurance should cover any problems.

 Ready to Make Some Extra Cash?