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Value is different for each and every one of us. Our views of the world area as varied as our experiences. Our expectations and understanding of who we are and what we own relates directly to what we perceive of having value.
When we look at creating a Broker Price Opinion we follow specific means and methods to interpret the data and present the reporting in such a way so as to help one make the best decision possible about the subject property specific to what your needs and wants are.
A Broker Price Opinion is an opinion based on using ACTUAL SOLDS and current TREND data to help one understand what the value of the property is and how it relates to the stakeholders.
Stakeholders would be defined as those involved with a property who have something to gain or lose by gaining or losing the rights to a property. These rights could include buying, selling or keeping the property, or being able to share income or losses that come from the property.
The BPO process helps remove the emotional attachment and lay the ground work to help one make a clearer, faster decision about which direction one should go with a property.
- Sellers wanting to know what their home is worth.
- Family members going through a succession..our approach here is multifold...we consider what a property or portfolio is worth, consider value as is, then suggest easy value added options to get the most money out of the investment. We consider the timeframe and measure that against all the stakeholders involved in the decision making process.
- Divorce attorneys and/or their clients seeking an unbiased view to help establish net worth of real estate.
- Agents - fellow Real Estate agents from around the globe who may not be a member of our local Mulitiple Listing Services (MLS) or have full access to the commercial database, (lacdb.com)
- Banks and other Financial Institutions - the approach with these clients vary widely by client, information needed about the property and tenants(if commercial). The BPO's for these clients may range from establishing value to considerations of maintenance or other costs related to the condition of a property beyond the usual scope of work for a standard BPO.
Commercial and Industrial
- Clients whose primary incomes is not real estate, but have residential income producing rental properties.
- Clients with a Portfolio of residential, mixed use and commercial properties.
- Government Entities requiring fast, efficient and confidential reporting to establish the level of urgency on classified circumstances beyond the normal scope of a standard Broker Price Opinion.
What creates an effective part of the process is having an understanding of a clients ultimate net result. Numbers can be skewed and stewed....it is more important to have a clear understanding of what one wants to achieve / the big picture so reports reflect the best means possible what one can do or should do within a specific timeframe so the most possible options can be explored by each client.
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