http://www.REIClub.com - Broker Price Opinion (BPO) Can Either Make or Break Your Deal. Here Is A Video On How To Influence Broker Price Opinions (BPOs) In Your Favor...
Step 1: Be Present during the Broker’s Price Opinion
- Full Brokers price Opinions
- Drive-By Broker Price Opinion
Step 2: Comps/Repairs
- Comps
- Make two lists for repair costs
Step 3: If occupied, not present during BPO
Step 4: Shadow the Agent
- Remember to point out all major repairs
- Take tons of pictures
- Share the information
Step 5: Dig for more info...
- Ask the agent if they have a ballpark estimate
- ask when they will be finished
It is important to let the agent know that you are very familiar with the neighborhood and tell them what you think the property is worth. If the agent views you as someone who is educated about the property and the activity in the neighborhood, your opinion will be valued and taken into consideration when they make their report to the lender.
