I want to show how to do a Broker Price Opinion (BPO) for the real estate industry. But first let me give you a little of my background.
My name is Roger Holden and I have been a Real Estate Agent for 11 years.
I started out in a small brokerage learning real estate from some very qualified professionals that had been in the business for over 50 years.
I learned the residential and commmercial sides along with being a Brokers Assistant.
The Broker also had a General Appraisers License in the State of Florida.
I soon became very involved in the inner workings of appraisals both residential and commercial. Along with helping with the appraisals I soon found myself doing all the research involved that was required in order to determine the correct property value. If you don't have the right comparable properties while doing an appraisal you won't come up with the proper estimated value. So this segment of the process was very important.
Over the years I became very efficient in finding comparable properties for the boss.
I had considered becoming an appraiser but my other real estate endevors would not receive the proper attention they needed, after all, I was a real estate agent trying to sell homes. I never became an appraiser.
I had made a lot of good sales and then all of a sudden, the real estate market came to a halt. Prices had escilated beyond belief and buyers stopped buying. This of course was in 2005 when the real estate bubble burst.
Around that time I had received a phone call from a company who wanted to know if I would do BPO's (Broker Price Opinions) for them, I quickly asked How Much? She replied $75 for in exterior and $85 for an interior BPO. I put her on hold and asked my broker what he thought. I got back on the phone and asked her when I would start? She replied tomorrow, I will email your first BPO request. We went over the details of payment to my brokerage and after that there was no looking back.
I have performed over 600 Broker Price Opinions in the past 5 years and I have become very good at what I do, creating something from nothing.
The prices for my services started to go up slightly without me asking. Now I'm up to $125 per drive by exterior broker price opinion and I consider me to be one of the highest paid BPO agents in the United States. So now I would to share some of my knowledge with you.
