Can an agent perform a BPO?  I explained that a BPO is a “Broker Price Opinion,” not to be confused with Business Process Outsourcing.  A Nevada real estate licensee is in fact allowed to perform this function and for a fee, but with some parameters. 

First, it needs to be an opinion and can only be for the purpose of assisting a seller in determining a listing price.  Which means . . . it is not meant to take the place of an appraisal.  NRS 645C.150  (the appraisal statute) declares that only appraisers may perform appraisals, but if you have a Nevada real estate license under NRS 645 you are exempt from the appraisal statute so long as you are performing the BPO within the scope of your real estate license, namely to aid a seller in determining a list price.   The Nevada Real Estate Division has just recently published a clear explanation on the BPOs do’s and don’ts.  [http://www.red.state.nv.us/publications/bulletins/bpo.pdf

Here is the most recent  BPO Clarification from NVAR.

Janet’s always got such good questions.

 Oh . . . and happy Nevada Day!!

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