"Bachelors know more about women than married men; if they didn't they'd be married too."H. L. Mencken
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Becoming A Battle Hardened Real Estate Veteran Without All The Scars: Seven Steps That Real Investors Make
As part of a new web site that we just launched, www.GetPreconstructionDeals.com, I get repeated requests asking if a particular deal is good or not. While we can't answer this for individual projects, we can certainly look at what HAS to get done by the ...
Cutting Edge Real Estate. Is There Anything New? Part 1
Cutting Edge Real Estate Is There Anything New? Part 1 By Tim Phelan The world of real estate has pretty much stayed the same for decades. It's no different todaythan it was 50 years ago. The basic principles will never change. Is this true? Only part of ...
Real Estate Deals - Ten Myths
Are high-profit real estate deals only for the wealthy? Is it possible to buy with no money down? Do you really have to know the "right" people? Let's answer by looking at some of the myths of real estate. 1. The good real estate deals are reserved for ...
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A Broker Price Opinion may be called many things, BPO, valuation, "mini appraisal" even CMA has been known to title the information in a broker price opinion. What is a Broker Price Opinion? In real estate it is an OPINION of value, based on current real estate market analysis. It is not an appraisal. There are many more technical requirements for an official appraisal; among them is an appraisal license. Broker Price Opinions are performed by agent/brokers in the real estate market. Each state has separate requirements for licensing levels; however, the experience needed is the universal skill, of valuing a property for current market sales price.
Banks use these values, for determining approval on mortgage loans, second mortgage loans, home equity loans, and refinancing. The information that is required for each bank and each loan purpose varies greatly.
There are many training vehicles for completing Broker Price Opinions, highly recommended is RealEstateProGuides.com, a business building site for real estate professionals. They provide learning guides for niche markets in real estate, and include forms to use for inspections and invoice tracking, among with a client data base with contact information. It is important to attain the names and contact information for clients in training to start a broker price opinion business. Some are very reputable, and others are not. Having them recommended is a great source of security for the broker new to the business. Go to www.buildbpobusiness.com for a FREE interior inspection checklist, a valuable tool in completing interior broker price opinions.
Registering with the BPO mills is sometimes easy and sometimes complicated. Brokers are recommended to have their information ready before applying to a site, so that they are ready with the requested information.
Building a broker price opinion business requires time and energy, but not a lot of money or people. It is a very resource friendly business to begin. A licensed agent/broker can have it up and running inside of a month. The key is to know what a broker price opinion is, who needs broker price opinions, and how to complete a broker price opinion.
About the author:
Kim Polinsky is a real estate specialist. She has authored two e-guides on real estate niche markets. Kim works closely with Margot Murphy at www.realestateproguides.com
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Real estate spotlight, May 25, 2012Seattle Post IntelligencerBy AUBREY COHEN, SEATTLEPI.COM STAFF Is your dream to live on Lake Washington? How about in this home, 8750 Sand Point Way NE, listed for $3.395 million? The 6200-square-foot house has five bedrooms and 4.5 bathrooms, including a master suite with a ... |
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