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1/21/2012 at 10:22:21 PM GMT
Posts: 297

Our state coalition has been told the Realtors are going to put forth a bill in our state legislature  allowing real estate salespersons to do BPOs for a fee on some properties.  Currently only a licensed appraiser in our state can give an opinion of value for a fee, a realestate person can only give a value for listing purposes.

I have seen data somewhere but cannot recall where that studies have been done showing that appraisals have been proven more accurate than BPOs. Does anyone have any data on this?

Thanks for any help



1/22/2012 at 3:53:54 PM GMT
Posts: 83
Carol, check the GAO report from July 2011, which was required by Dodd Frank. There is a discussion in that of the pros and cons of appraisals vs other types of "evaluations"

1/24/2012 at 11:19:33 PM GMT
Posts: 297
Thanks Susanne.  These "people" actually had someone come and talk to our coalition and now that we see what the bill has it FAR exceeds even what they talked about at our meeting.  Keep your fingers crossed for us.

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