Broker Price Opinions
Broker price opinions for real estate, equipment and businesses
A lower-cost opinion of value for owners, buyers and sellers. Prepared by a licensed broker with 30 years of valuation experience. Not an appraisal, and not for lending decisions.
Uses
When a BPO fits
- Pricing a business, property or equipment before listing it for sale
- Checking whether an offer is in range
- A buyer's reality check before a letter of intent
- Partner and family discussions where no formal appraisal is required
- Deciding whether a full appraisal is worth ordering
Deliverable
What you receive
A short written opinion of the probable selling price, or a price range, with the comparable sales and listings behind it and a plain explanation of how the number was reached. Delivered as a PDF.
The fee is reduced to match the narrower scope. The same discipline applies: sources are cited and assumptions are stated.
Choosing
BPO or appraisal?
| Feature | Broker price opinion | Appraisal |
|---|---|---|
| Prepared as | Licensed broker | Appraiser, under USPAP |
| Typical users | Owners, buyers and sellers | Lenders, courts and regulated uses |
| Scope | Probable selling price with supporting comparables | Full analysis, defined premise of value, all approaches considered |
| Lending decisions | Not suitable | Suitable |
| Fee | Reduced | Full |
If a lender is involved, start with an equipment appraisal or a business valuation. Lenders who need an evaluation can be referred to our sister company.
Terms
Role and limits
We do not prepare real estate appraisals for lenders. Each BPO is prepared in the role of broker and states that it is not an appraisal. It is not to be used for lending, litigation or tax purposes. Real estate BPOs are prepared where state law permits. Equipment and business BPOs are available worldwide.
Questions
Broker price opinion questions
What is a broker price opinion?
A broker price opinion, or BPO, is a licensed broker's estimate of the probable selling price of an asset, supported by comparable sales and listings. It is shorter and less costly than an appraisal.
Can a lender use a BPO for a loan?
Generally no. Lenders rely on appraisals or evaluations for credit decisions. For equipment and businesses, see our appraisal services. We do not prepare real estate appraisals for lenders. Lenders who need a real estate evaluation can be referred to our sister company, which prepares them.
Is a BPO prepared under USPAP?
No. A BPO is prepared in the role of broker, not appraiser, and each one says so. It is not an appraisal and should not be used for lending, litigation or tax purposes.
What assets can you prepare a BPO for?
Real estate, machinery and equipment, and operating businesses. Real estate BPOs are prepared where state law permits. Equipment and business BPOs are available worldwide.
How much does a BPO cost?
Less than an appraisal. The fee depends on the asset and the data available. Send a short description and the purpose for a fixed quote.
Have an assignment?
Send the asset list or company name and the intended use. You will get scope, fee and timing back by email.