Discussion in 'General Appraisal Discussion' started by Laurie Norman, Dec 28, 2004.
Maybe they should have some other sales agent field review the BPO. :lol:
What did they expect for $25.00? The broker probably didn't even do it. He probably had an office flunky run a bunch of printouts.
Just explain to them nicely how BPO is synonymous with POS.
Just like you did here.
I like that Lee. I can just see the letter. I may steal your line and save it for any similar situation I come across.
I want to make sure you understand that I am an appraiser and I provided certified residential appraisals (CRA). I also hope that you understand BPO stands for Broker Price Opinion. Please note that BPO does not contain the word "Appraisal". I am sure you are also familar with some other acronyms in common use. So please note that your BPO is a POS, and my CRA will CYA.
Sincerely ~ :yellowblack:
Just did one today that the broker said she was hoping to list around $230. No sales that low in the entire neighborhood, and the subject is in good condition. Maybe she was thinking "quick sale" value.
Feel free Terrell. Your refinement was better though.
I always liked this line from Tom Lehrer.
That is because they don't have to worry about commission.
I was talking to a sales agent that told me she gets a fee of about $2,000-$3,000 per sale on $5,000-$25,000 houses.
She told me sometimes the bank doesn't make enough to cover her fee.
I realize prices everywhere are not insane like California, but whaaa...?
These must be more than humble abodes. In neighborhoods fitting the same description.