WASHINGTON (May 13, 2011) - With the changing real estate landscape and the increased use of broker price opinions (BPOs) by market participants, the National Association of Realtors® has launched a new certification, BPO Resource, recognizing Realtors® who have completed NAR’s new BPO education program. The new certification course was offered here during the Realtors® Midyear Legislative Meetings & Trade Expo.
Nearly 160 Realtors® attended the one-day “BPOs: The Agent’s Role in the Valuation Process” course earlier this week. The course is intended to give Realtors® the knowledge and skills they need to reduce risk and help them create professional and accurate BPOs. The BPO Resource certification explores the multiple uses of BPOs, how they can and cannot be used, and how to filter and select comparables to create expert and precise BPOs. The course also helps members identify and use effective tools for BPOs.
In addition to completing the course, participants will be required to take a free webinar, maintain their NAR membership and pay a one-time fee to obtain the certification. Once awarded the certification, Realtors® completing the course will be eligible to receive BPO orders through a partnership with Realtors® Property Resource™.
“As the real estate market evolves, we are seeing more demand for broker price opinions, and it’s imperative that Realtors® are knowledgeable and educated about how BPOs work, as well as the risks involved,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “The BPO Resource certification not only adds value to the services provided by Realtors®, but also it helps practitioners grow their business.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
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Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.