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Broker Price Opinion (BPO)

A Broker Price Opinion, commonly referred to as a BPO, is a determination of a price at which a property might sell. As the name implies, it's developed by a licensed real estate broker by evaluating comparable sales and current market conditions. A BPO differs from an appraisal in that it is not an opinion of value. Brokers are not allowed to use the term "value" when developing a BPO; licensed appraisers must be employed to determine a market value for a property. BPOs are commonly used by relocation companies to determine pricing for sellers who need to sell their homes because of a job transfer.