Who is allowed to provide a broker price opinion?

A broker price opinion (BPO) is a detailed estimate of a property's value based on various factors, including comparable sales and market conditions. Providing a BPO is a professional activity that requires knowledge of real estate principles and market conditions.

Licensed professionals such as real estate brokers, salespeople, and appraisers have the training and credentials necessary to conduct these analyses accurately. They are equipped to consider relevant data, understand local market dynamics, and apply appropriate valuation techniques, making them suitable for providing reliable BPOs.

In contrast, while a property owner may have opinions about their own property's value, they lack the objective training and standards necessary for an impartial assessment that a professional would provide. Similarly, a real estate investor may have expertise in buying and selling properties but is not licensed to provide value assessments unless they hold the appropriate real estate licensure. Lastly, an administrative assistant does not possess the necessary qualifications or training to offer such evaluations, focusing instead on supporting roles in a real estate transaction team.

Thus, only licensed real estate brokers, salespeople, or appraisers are authorized to provide broker price opinions, ensuring a level of professionalism and accuracy essential for effective real estate practice.