BPO What Is A Broker Price Opinion ? The estimated value of a property as determined by a real estate broker. A broker price opinion is based on the characteristics of the property being considered. Some of the factors that a broker will consider when pricing a property include: the value of similar surrounding properties, sales trends in the neighborhood, an estimate of the costs associated with getting the property ready for sale and/or the cost of any needed repairs. It is important to note that a BPO is not the same as an appraisal. Land Evaluation Qualities To estimate market value, which is defined as "the most probable sale price of a property in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing for a sufficient time for the sale, and assuming that the transaction is not affected by undue pressures." Most used perceptions: Location, size, restrictions, appearance, topography, tract shape, trees & grass, ponds, lakes, creeks, rivers, flood plain, access, road frontage, frontage road quality, soil type, drainage, fencing, path of progress, hazards, utilities, nuisances, improvements, conformity, highest & best use.
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