# What Is A Price Opinion From A Broker?

A broker price opinion is created when a real estate broker or another certified professional estimates the value of a property. When selling a home, a BPO is required as part of the listing contract. A BPO might be requested by a lender, loss mitigation business, or mortgage company looking for a property assessment.


## What Is the Process of Getting a Broker's Opinion on a Price?

A broker or real estate expert uses similar residences, or real estate comps, to determine the broker pricing opinion. Completing a comparative market study looks quite similar to this method. (To estimate property values, real estate brokers utilise comparative market assessments, which look at similar homes sold in the same area throughout time.) If you are looking for the service of BPO visit "[Broker price opinion](https://www.sgpnow.com/products/broker-price-opinion)" and get connected with the service provider near you.

## What Different Types Of Broker Price Opinions Are There?

Internal and external broker price evaluations are available.

### Internal BPO
In an interior BPO, an agent enters a home and spends time measuring and inspecting its characteristics in order to make an accurate assessment. The broker inspects the home's interior, measures rooms for appropriate sizing, and confirms the number of bedrooms, baths, and other amenities in person.

### External BPO

Unlike an inside BPO, an external BPO, often known as a drive-by BPO, involves a broker assessing the property from the outside — and just the outside. A broker may look at the home's formal details, such as square footage and bedrooms. External BPOs are more common than internal BPOs, but they are also less accurate.