Employing A Property Professional To Get A Broker Price Opinion

Out of state companies sometimes need the assistance of a real estate agent to get them a broker price opinion

. These positions are available in your area, if you have full access to the multiple listing service.

They need someone to go to the property they need information about. They usually choose a licensed real estate agent. This agent will need to see the property first hand in order to comment and report about it.

Companies that require this type of service are mortgage companies, appraisers, and other loan companies, trying to determine the value of the property. They depend on the expertise of a real estate agent in the area of the property to give them information about the property, in order for them to make a determination about the value of it.

The agent is given a set of instructions, along with forms to fill out about the property inspection. There is a lot of information needed, and a lot of time will need to be spent on this project. When the agent is done filling in all the data required, the form is sent back to the company that hired him, either via email, regular mail, or fax.

The agent may need to take a few pictures of the property. Usually, the pictures required are exterior pictures of the building and the surrounding area. The agent might include a picture of the street, or a building located across the street, to show what is around the property in question. Occasionally, the agent is asked to take pictures of the interior, as well.

The form that is filled out will contain information, such as the square footage of the building, as well as the lot size. The composition of the building and roof may also be included. There may also be a section that requires information from the local multiple listing service. They may need to know how many days this building has been on the market. They will also require several comparable properties, within a short distance of the property in question, that have been sold in the last six months, if any records of sales are available.

The real estate agent will be very busy on this for hours, if not longer. He will charge a fee that is agreed upon before he begins. The fee usually starts out very small, but as the agent negotiates, it can become reasonable for his time. Commercial properties require more research, and commercial real estate agents charge much more for this broker price opinion service.

by: Peter Ruiz

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