9:00 am - 4:00 pm ~ Instructor: Matthew Rathbun
Elective Course for ABR Registration Form
Course Fee: Member: $95 Non-Member: $105
Complimentary Lunch & Learn
About BPOR
The current housing market presents many challenges to our real estate industry, few more important than valuation. Evaluating properties depends more than ever on professional expertise and competence, the best use of technology, and a commitment to approach the valuation assignment from all pertinent perspectives.
“BPOs: The Agent’s Role in the Valuation Process” is specifically designed to help residential real estate agents and brokers enhance their skills in creating BPOs, reducing risk, and applying alternative valuation techniques.
According to industry estimates, more than 10 million BPOs are performed annually throughout the country. BPOs provide critical information for decisions, and have been widely adopted as a valuation tool in the mortgage industry and – increasingly – for government programs intended to aid the economy and help homeowners avoid foreclosure. A useful summary of how BPOs are utilized is available here. For brokers and agents, BPOs provide multiple professional and financial opportunities for growth and expansion.
How it works
You must be a member in good standing in the National Association of REALTORS® to earn BPOR. After completing the one-day class, “BPOs: The Agent’s Role in the Valuation Process,” you will submit the BPOR application and fee, view a free, online Webinar, and then you will receive priority BPO orders as a preferred provider from leading BPO management companies, through a partnership with Realtors Property Resource®. Your MLS does not need to be signed up with RPR in order for you to receive BPO orders through this program. Please note that you must have been licensed for at least two-and-a-half years and have an E&O policy with $250,000 minimum coverage per incident and $500,000 aggregate maximum in order to be enrolled in the preferred provider panel.
About BPO’s
A Broker Price Opinion (BPO) is an estimate of the probable selling price of a property. The BPO has become an important source of information for the real estate industry and, increasingly, for government programs designed to aid the economy and help homeowners avoid foreclosure.
BPOs benefit:
- Homeowners by reducing pass-through servicing costs
- Mortgage investors by decreasing the cost of due-diligence
- Credit risk departments that need to verify collateral value accuracy
- Financial institutions that rely on multiple valuation perspectives to help them manage the dynamic real estate values in a challenging economic environment
According to industry estimates, over 10 million BPOs are performed annually across the country. BPOs provide critical information for decision-making and have been widely adopted as a valuation tool in the mortgage industry due to their timeliness, cost effectiveness, and accuracy.
BPOs are commonly used for:
- Fraud check and additional due diligence on a completed appraisal
- Internal non-lending purposes such as portfolio valuation and review
- Due diligence of loan portfolios by buyers and sellers in secondary market transactions and to help establish the purchase and sales price of a portfolio
Instructor Bio:
Matthew Rathbun is a Virginia Licensed Broker. He has opened and managed real estate firms, as well as coached and mentored agents. As a Residential REALTOR®, Matthew was a reoccurring Top Producer and past REALTOR® Rookie of the Year. Matthew was the recipient of the Virginia Association of REALTORS® 2007 George Rink Educator of the Year award. Matthew holds the following designations/certifications: ABR, ABRM, AHWD, BPOR, CDPE, CSP, ePRO, GREEN, GRI, SFR, SRS, SRES.
Course Fees:
Member: $95
Non-Member: $105
