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Broker price opinion

A real estate broker's written opinion of value, less formal than an appraisal. Common in short sales and REO deals. Cheaper and faster than an appraisal.

Also called BPO · Inspections & appraisals · Updated September 2026

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Where this comes up: getting ready

This word belongs to the getting ready part of a sale. Here is what that part holds, in order.

  1. Set up your closing teamDecide if you want an agent · Find out who runs closings here
  2. Set your priceLook at what nearby homes sold for · Check some online values
  3. Prep and photograph the homeClear out and put things away · Fresh paint and a deep clean
  4. Gather details and disclosuresWrite down the basics · Note the land and what stays

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Part 1 of 4

Why a seller cares

A BPO is an agent's written estimate of value, cheaper and faster than an appraisal. Lenders use it in short sales; sellers meet it as the pricing document behind some agent conversations.

Part 2 of 4

A simple example

A short-sale lender orders a BPO on your home. The agent drives by, pulls three comps, and reports $245,000 within a few days for a fee of about $100.

Broker price opinion: a simple example
The documentWho makes it, and how deep it goes
Broker price opinionA licensed agent, from comps and often a drive-by
Comparative market analysisYour own agent, from comps, as a pricing conversation
AppraisalA licensed appraiser, from comps and an inspection of the home

A BPO is a quick professional read on value, not a lender's appraisal.

Part 3 of 4

What people get wrong

That a BPO is binding. It is an opinion a lender or a seller asked for, and an appraisal can disagree with it.

Part 4 of 4 · where to read next

Where it appears in the sale

Getting ready to sellBefore you list · the stretch of the sale this word belongs to

What a definition is, and what it isn't

Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.

Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish

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