BPO/CMA
Broker Price Opinion (BPO) / Comparative Market Analysis (CMA)
Purpose
Provide an informed, professional estimate of a property's current market value.
Assist sellers, buyers, lenders, estate executors, and investors with pricing, listing strategy, loan decisions, or portfolio analysis.
Offer a faster, lower-cost alternative to a formal appraisal while relying on market data and local expertise.
What’s Included
Subject property overview: address, property type, lot size, living area (sq ft), age/condition, bedrooms/bathrooms, notable features and any deferred maintenance.
Neighborhood and market context: school district, nearby amenities, zoning, market trends (supply/demand, average days on market, price direction).
Comparable sales (comps): 3–6 recently sold properties similar in size, age, condition, and location with sale dates, sold prices, adjustments, and rationale for selection.
Active and pending listings: current competition and buyer demand indicators.
Price adjustments: clear, documented adjustments for differences between comps and the subject (square footage, condition, updates, lot, garage, view, basement, etc.).
Photos and map: images of subject and comps and a map showing proximity to comps (when available).
Value reconciliation: analysis of adjusted comp values and rationale for suggested list price, probable sale price, and a price range.
Recommended marketing strategy: listing price, recommended repairs or staging, target buyer profile, and suggested marketing channels.
Limitations and assumptions: scope of the BPO/CMA, data sources, and disclaimers that this is not a certified appraisal.
When to Use a BPO / CMA
Preparing to list a property quickly.
Evaluating a quick purchase offer or short sale.
Lender valuations for REO or foreclosure situations.
Probate or estate settlements requiring a timely value estimate.
Investors assessing acquisition or disposition strategy.
Methodology
Inspect subject property (exterior-only, drive-by, or full interior when allowed) and document condition.
Identify and vet comps within an appropriate radius and recent timeframe (typically 3–6 months, extended in slow markets).
Make objective adjustments for material differences to arrive at adjusted comp values.
Reconcile adjusted values into a recommended price range and a single suggested list price or opinion of probable sale price.
Provide supporting documentation and transparent reasoning for all adjustments.
Deliverables Format
Cover page with property summary and BPO/CMA date.
Executive summary with recommended price and key reasons.
Detailed comp table with adjustments and photos.
Market trend snapshot and neighborhood commentary.
Actionable seller/buyer recommendations.
Signature, license
Broker Price Opinion (BPO) / Comparative Market Analysis (CMA)
Purpose
Provide an informed, professional estimate of a property's current market value.
Assist sellers, buyers, lenders, estate executors, and investors with pricing, listing strategy, loan decisions, or portfolio analysis.
Offer a faster, lower-cost alternative to a formal appraisal while relying on market data and local expertise.
What’s Included
Subject property overview: address, property type, lot size, living area (sq ft), age/condition, bedrooms/bathrooms, notable features and any deferred maintenance.
Neighborhood and market context: school district, nearby amenities, zoning, market trends (supply/demand, average days on market, price direction).
Comparable sales (comps): 3–6 recently sold properties similar in size, age, condition, and location with sale dates, sold prices, adjustments, and rationale for selection.
Active and pending listings: current competition and buyer demand indicators.
Price adjustments: clear, documented adjustments for differences between comps and the subject (square footage, condition, updates, lot, garage, view, basement, etc.).
Photos and map: images of subject and comps and a map showing proximity to comps (when available).
Value reconciliation: analysis of adjusted comp values and rationale for suggested list price, probable sale price, and a price range.
Recommended marketing strategy: listing price, recommended repairs or staging, target buyer profile, and suggested marketing channels.
Limitations and assumptions: scope of the BPO/CMA, data sources, and disclaimers that this is not a certified appraisal.
When to Use a BPO / CMA
Preparing to list a property quickly.
Evaluating a quick purchase offer or short sale.
Lender valuations for REO or foreclosure situations.
Probate or estate settlements requiring a timely value estimate.
Investors assessing acquisition or disposition strategy.
Methodology
Inspect subject property (exterior-only, drive-by, or full interior when allowed) and document condition.
Identify and vet comps within an appropriate radius and recent timeframe (typically 3–6 months, extended in slow markets).
Make objective adjustments for material differences to arrive at adjusted comp values.
Reconcile adjusted values into a recommended price range and a single suggested list price or opinion of probable sale price.
Provide supporting documentation and transparent reasoning for all adjustments.
Deliverables Format
Cover page with property summary and BPO/CMA date.
Executive summary with recommended price and key reasons.
Detailed comp table with adjustments and photos.
Market trend snapshot and neighborhood commentary.
Actionable seller/buyer recommendations.
Signature, license