BPOSG - BPO Standards and Guidelines
BPOSG – Broker Price Opinion Standards and Guidelines is a compilation of standards and best practices for BPO practitioners – real estate agents and brokers. A Broker Price Opinion (BPO) is a report that is prepared by a real estate agent or broker that details the probable selling price of a house or property. The standards and guidelines contained in BPOSG are utilized in determining the probable selling price of residential real estate properties. BPOSG can be thought of as set of quality control measures that adhere to the fundamentals, techniques, procedures, and best practices for real estate price evaluations.
The standards portion dictates what a BPO practitioner must do such as ethics and conduct, disclosures, proper application of techniques etc… Guidelines are best practices and/or procedures that are widely accepted, yet allow for flexibility in application. The guidelines contained in BPOSG allow for flexibility in order to meet a diversity of requirements that are needed throughout the valuation industry.
The BSB generates and distributes BPOSG surveys to receive a wide range of input from a myriad of sources throughout the industry. The survey is open to end consumers of BPOs (banks, lenders, loan servicers et al), brokers and sales agents (BPO Practitioners), and BPO and REO companies (companies that provide BPOs). The BSB then utilizes the compiled results of the surveys to evaluate and determine BPOSG applicability and to revise BPOSG as needed.
NABPOP integrates BPOSG into a BPO Certification process. NABPOP grants a certification and designation based on knowledge and application of BPOSG and related real estate pricing and valuation techniques, processes, and procedures.
The current version of BPOSG is Version 3.1 as of May 20, 2009. BPOSG is a living document and will evolve as the BPO industry evolves. If you would like to be notified when BPOSG version changes, please send an e-mail to BSB@NABPOP.org to be added to the notification list.
To view BPOSG, (left) click the below links. To download BPOSG, please right click on the below links:
BPOSG Standards and BPOSG Guidelines. Please note, there are two documents to download. Click here for Download Instructions
BPOSG are copyrighted documents but can be distributed and utilized to the widest extent with appropriate credit to BSB.
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The BSB - BPO Standards Board - derives and maintains BPOSG. The BSB is comprised of subject matter experts throughout the BPO and valuation industry and is facilitated by the National Association of BPO Professionals - NABPOP. The companies, that are involved with the BSB, are competitors that have come together for the betterment of the overall industry. The selfless dedication of the volunteers that participate in the BSB, is an indication of the high caliber nature of the BPO industry. The BSB derives, reviews, updates, and maintains BPO standards.