Broker Price Opinion.
Agents/brokers can do an a CMA, we just can not call it an appraisal. We can call it a Broker Price Opinion or BPO. Many banks and lending insitutions will accept this and even order it for refinancing, short sells etc. There are specific forms, software, or you can develop your own package that conforms to the situation.
You may charge for this service just like an appraisal firm and this might be a good alternative source of revenue in the current market.
The second benefit is during your listing presentation is the creditibility it will give you with the seller when it comes to setting the listing price. There is a national assocation http://www.nabpop.com/ for BPOs. They have a good testing system and a good educational base that will help both the experienced and novice.
Michael Polly
Vice President
Denny Grimes and Company
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