Broker Opinion of Value

 

 

A broker opinion of value (BOV) or broker price opinion is a report that is performed by a licensed real estate broker and is used to support the professional opinion of the charged broker that will help determine the potential selling price or estimated value of a real estate property.

Bob Dikman, ALC, CRB, CCIM, SIOR has written hundreds of BOV’s with the majority written during the FDIC/RTC (Federal Deposit Insurance Corporation/Resolution Trust Corporation) heyday during the early 1990’s. Many banks and trust attorneys rely on BOV’s, however, they are NOT a substitute for an MAI appraisal, if required.