Broker Price Opinions: Who Was That Guy?

I am currently conducting about 12 broker price opinions each week. Broker price opinions are quick estimates of home values completed by licensed real estate agents. Broker price opinions or BPO's are ordered by banks or asset management companies and allow these companies to get a sense of what a property is worth.

So who's that guy taking pictures of my neighbor's house?

That's a question i think many people across the country are saying more and more.

You might say, "The guy (or gal) got out of their car, they took a few pictures and were gone before I got a chance to put my robe on to see what was going on."

Don't worry, you're not alone.

Whether a company is ordering it for quality assurance purposes (checking on themselves to see if they're writing quality loans), or more likely, because the person who owns the home is behind on their mortgage, broker price opinions are at an all-time high.

So next time when you're looking out your window and you see someone get out of their car, take three or four pictures of a home, you'll know that chances are, it's a real estate agent doing a BPO.

You may see me.

Either way, the more "business" I get with regard to broker price opinions, in our local communities, the more uneasy I feel.