REO real estate agent

[sorindiosan]

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]

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]

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]

What is ment by these accronims REO, BPO, and IMHO

 

[Em Tee]

REO = Real Estate Owned (property taken back by the bank)
BPO = Brokers Price Opinion
IMHO = In My Humble Opinion

 

[George Hatch]

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]

REO=Real estate owned; BPO=Broker's price opinion; IMHO=In my humble opinion. Now PITA= Pain in the ***

 

[sknightes]

Thanks Folks
I'm finding this forum as - or more - insiteful than my Appraisal courses

 

[Wayne Tomlinson]

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