How to Complete an Accurate and Awesome Broker Price Opinion (BPO)


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15 thoughts on “How to Complete an Accurate and Awesome Broker Price Opinion (BPO)”

  1. The link takes you to your full Blueprint program and not the REO and BPO starter kit. Coul you please give the correct link?

  2. Hello Mark!
    I have a real estate sales associate license, so all checks from BPO companies should be payable to my broker, not me. Am I right?

    • It depends on your broker. All my checks go to me and my broker takes no cut. It also will depend on the BPO company

  3. Hi Mark
    Do you actually print out the comparble information and then enter into the system? I have found that toggling between pages has become tedious, a lot easier to have the information just printed out. I am trying to create a system to gather and enter information more quickly? I also don’t want to use a ton of ink printing out everything. Any suggestions?

    • Ive completed over 7000 BPOs. I use two computers with two screens on each. At the very least I use one computer with two screens. I used to print from the MLS and type but that’s SO slow—I keep the comps on one screen and cut and paste into the online form of the BPO company. This site is VERY overly optimistic on order time and amount of orders you can get. Also on what the pay is and how many companies are giving out orders. When we were in the first years of the banking foreclosure mess, there were many orders, its true. The market has changed. There are only a small handful of companies that do most of the business. There are many small places that do regional orders for local credit unions etc There many tricks to receiving a lot of orders and it can take a lot of time. Thousands of brokers are applying to do this and the companies only need so many per city/county etc. You must go to these properties yourself and to send someone in your place violates the rules. Unless you are comping a cookie cutter house with a lot of close similar house—I wouldn’t count on 20 to 30 minutes to complete an order. You better be prepared to take all the courses each BO company offers, and do adjustments just like a fee appraiser would under USPAP or they will kick the order back for revisions and hurt your time score. You would have to be determined, work your butt off and very very lucky to break 2000 a month

      • You are right the market has changed. I wrote this a few years ago. I still get bpo orders even though I stopped completing them last year and never renewed any memberships or turned in my E and O docs etc. There is business out there, but not as much as there used to be.

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