Tag Archives: National Association of Broker Price Opinion Professionals

The state of Hawaii has enacted House Bill 320, a statute that permits a licensed real estate broker or real estate salesperson to prepare broker price opinions (BPOs) and charge a fee for their service. Under previous legislation, if a real estate licensee charged a fee for a BPO other than the commission involved in the normal sale of a property, then the licensee was in violation of the state's legal code for real estate appraisals. The change, which took effect in July, came about through a unified effort by a number of industry groups, and it's been a long time coming.

The Mississippi Legislature has approved a measure that defines the acceptable uses of broker price opinions (BPOs) to estimate the price of residential real estate property and provides greater clarity to real estate professionals on the preparation and delivery of BPOs in the state. The Broker Price Opinion Act has been signed into law by Gov. Haley Barbour and becomes effective July 1. As the basis for its BPO regulations, the state officially recognized and adopted the BPO Standards and Guidelines (BPOSG) from the BPO Standards Board and the National Association of BPO Professionals.

eMortgage Logic and the National Association of Broker Price Opinion Professionals (NABPOP) released Thursday a new version of the BPO Standards and Guidelines (BPOSG). The BPOSG provide wide-ranging parameters for the preparation of Broker Price Opinions (BPOs) throughout the BPO industry, and includes suggested practices for selecting and utilizing properties, pricing considerations, and ethical and competency considerations.