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The Two Major Types of BPO or Broker Price Opinions

What Are Drive By and Internal BPO's?

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Many real estate agents and brokers are supplementing their commission income by doing BPOs, or Broker Price Opinions. Though the income from an individual BPO may only be between $50 and $150, these brokers do well by streamlining their procedures and forms. Many companies allow the completion of BPO forms online.

There are two major categories of BPOs, the Drive By BPO and the Internal BPO. The name "Drive By" implies the extent of this BPO, but the task and form requirements can vary for this BPO type. Of course, in general the drive by BPO will not require the broker to get out of their vehicle nor go into the home. However, check the link out to see how this varies significantly by company and situation.

The Internal BPO can also vary in tasks and form requirements. It is definitely more involved, and there are usually more photos required. This BPO can require contact with a homeowner in foreclosure, or with a tenant who isn't aware of the situation. Care should be taken to know the situation and hopefully have an introduction before arrival.

For more detail on the duties of the two types of BPO, use these links:

  • Drive By BPO
  • Internal BPO
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