Broker Opinion of Value Template for Land Brokers

Broker opinion of value (or broker price opinion or comparative market analysis) can make or break you getting a listing.  So being well equipped to provide the most accurate analysis is at the top of your priority list as a land broker. This broker opinion of value can be a lot of intense work so qualifying your prospect or client will be important before embarking on the research journey.

A brokers opinion of value (BOV) is simple that, an “opinion”. It is not an appraisal. Appraisals may only be completed by someone who is licensed or certified as an appraiser. Therefore, TREC rules require that BPOs and CMAs contain the following statement verbatim:

THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL OR OPINION OF VALUE. In making any decision that relies upon my work, you should know that I have not followed the guidelines for development of an appraisal or analysis contained in the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation.

A BOV is an assessment of current land market value based upon a careful research of market and property conditions that affect the value of a farm, ranch, or other rural land. This process is usually undertaken when an owner is seriously considering the possibility of selling the property. Other needs for a broker opinion of value may be for an estate, trust, or bank. While this is not an appraisal, it provides that land owner, estate, or bank with useful data and guidance.

At REALSTACK, we’ve created a well designed broker opinion of value template for land brokers.  Click the button below and download the template.  You can change the colors, fonts, and more to make it your own but is a great starting point.