Who in Florida is authorized to prepare a Broker Price Opinion?

In Florida, the preparation of a Broker Price Opinion (BPO) is a task that can be performed by anyone who holds a valid real estate license. This includes real estate sales associates, brokers, and anyone else licensed under Florida real estate statutes. A BPO is typically used to estimate the value of a property based on comparable sales, current listings, and market conditions, rather than formal appraisals which require a certified appraiser.

While certified appraisers also have the qualifications to provide valuable insights and formal market analyses, the law surrounding BPOs allows a broader scope for real estate professionals. This means that licensed agents and brokers have the authority to prepare these opinions, making market insights accessible to a wider range of professionals engaged in real estate transactions.

On the other hand, individuals who do not possess a real estate license, such as real estate investors or those without licensure, are not authorized to prepare a BPO. It is essential that these evaluations are conducted by licensed professionals so that the information adheres to the legal framework and ethical standards required in real estate practices.