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REO real estate agent

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sorindiosan

Thread Starter
Freshman Member
Joined
May 29, 2003
Professional Status
Real Estate Agent or Broker
State
Tennessee
As a REO real estate agent with over 1000 BPO's in the past year, will it be a PLUS to find a Supervisor?
 

Thomas Fiehler

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
If you are asking about becoming an appraiser than no it will not be a plus-it will be a REQUIREMENT. The supervisor will provide the expertise and supervision that is necessary. There is little in common between a BPO and an appraisal. (Appraisals are much more indepth)
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
I doubt that doing BPOs is going to help anyone get an appraiser supervisor. The standards for doing BPOs and appraisals are different. The agent would have to basically learn from scratch. The experience as a real estate agent, IMHO, is more important.
 

sknightes

Freshman Member
Joined
Jul 1, 2008
Professional Status
Appraiser Trainee
State
New York
What is ment by these accronims REO, BPO, and IMHO
 

Em Tee

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
REO = Real Estate Owned (property taken back by the bank)
BPO = Brokers Price Opinion
IMHO = In My Humble Opinion
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Welcome to the forum.


REO = Real Estate Owned It refers to when a lender has taken back a property in foreclosure and now holds the asset.

BPO = Broker Price Opinion Ostensibly, BPOs are used by agents and brokers to provide their opinions of value to clients during the course of their brokerage activities. In reality, they have become an alternate form of appraisals used by some of the lenders in lieu of the more comprehensive appraisals that we normally perform.

IMHO - In My Humble Opinion. A variation of IMO (in my opinion), or IMNSHO (in my not-so-humble opinion).
 

Thomas Fiehler

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
REO=Real estate owned; BPO=Broker's price opinion; IMHO=In my humble opinion. Now PITA= Pain in the ***
 

sknightes

Freshman Member
Joined
Jul 1, 2008
Professional Status
Appraiser Trainee
State
New York
Thanks Folks
I'm finding this forum as - or more - insiteful than my Appraisal courses
 

Wayne Tomlinson

Senior Member
Joined
Jan 25, 2005
Professional Status
Certified General Appraiser
State
Illinois
If what you posted is the extent of your knowledge of the appraisal business, I would likely not even give you the time of day.

You have too much to un-learn.


Wayne Tomlinson
 
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