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What is a Broker's Price Opinion?
A broker's price opinion (BPO) is essentially a comparative market analysis (CMA), but performed by a licensed real estate broker (what's a broker?) rather than a real estate agent. It is an examination of the prices at which similar properties in the same area recently sold. Since no two properties are identical, brokers make adjustments for the differences between the sold properties and the one that is about to be listed for sale.
A broker's price opinion (BPO) is essentially a comparative market analysis (CMA), but performed by a licensed real estate broker (what's a broker?) rather than a real estate agent. It is an examination of the prices at which similar properties in the same area recently sold. Since no two properties are identical, brokers make adjustments for the differences between the sold properties and the one that is about to be listed for sale.
