Location: Arizona
Submitted 06/25/12 10:15 PM

Q. I am a licensed real estate transaction coordinator and am going to begin completing BPO's for my team. Any tips and tricks for completing a good BPO would be appreciated! Thanks!

 

Answer #1
Submitted 06/26/12 02:23 AM
John Mosier - Prescott's Patriot REALTOR® (High Country Realty - Prescott - AZ): Agent in Prescott, AZ John Mosier - Prescott's Patriot REALTOR® (High Country Realty - Prescott - AZ)
Agent
Prescott, AZ

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A.

There are many classes and training sessions being taught now on how to do BPOs. I think you should investigate and possibly take one of these classes.

Answer #2
Submitted 06/26/12 12:10 PM
Juli Vosmik - Scottsdale/Cave Creek, AZ real estate 480-710-0739, AZ license: SA582226000 (Dominion Real Estate Partners, LLC, Scottsdale, AZ): Agent in Scottsdale, AZ Juli Vosmik - Scottsdale/Cave Creek, AZ real estate 480-710-0739, AZ license: SA582226000 (Dominion Real Estate Partners, LLC, Scottsdale, AZ)
Agent
Scottsdale, AZ

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A.

First, NEVER, NEVER be late with a BPO - you are graded on timeliness AND accuracy.

2nd - read the instructions:  do they want "fair market sales", REO's, - they typically tell you.  They'll also tell you how many months you can go back for comps.  3 to 6 is usually the norm.

3rd - if for any reason, you can't meet their instructions - had to go back further in time, further in location search, etc - EXPLAIN, EXPLAIN, EXPLAIN.  

BPO's are nothing more the an in-depth CMA.  The form will tell you what the client is looking for.  The hardest part is just doing a couple.  Once you've done one or two, you'll get the hang of them.  Good luck.
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