The North Carolina Real Estate Commission has set out its guidelines on who is violating the rules when it comes to broker price opinions. While this guy is as exciting as watching paint dry in a dark room, it is important to point out that there needs to be a reasonable expection that the agent would receive the listing for performing the BPO.
Reasonable expectation? What exactly does that mean?
On 70% of the BPO's received on our short sale listings, the agents are new or not MLS members, have not sold a home in a number of years, or have never even sold a bank owned property. Now, some are on teams and their teams list REO's but most are not. Instead, they are assigning values to property as their sold source of income.
What kind of job does that sound like?