NABPOP Announces Updated BPO Standards and Guidelines - BPOSG

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The National Association of Broker Price Opinion Professionals (NABPOP), on behalf of the BPO Standards Board (BSB), is pleased to announce an updated version of BPO Standards and Guidelines (BPOSG). BPOSG version 5.0, effective May 10, 2012, replaces Version 4.0 as the current version of BPOSG.

BPOSG - BPO Standards and Guidelines Version 5.0

BPO Standards and Guidelines

The effectiveness and wide utilization of BPOSG are a direct reflection of the technical expertise provided by the BPO subject matter expert members of the BPO Standards Board

The National Association of Broker Price Opinion Professionals (NABPOP), on behalf of the BPO Standards Board (BSB), is pleased to announce an updated version of BPO Standards and Guidelines (BPOSG). BPOSG version 5.0, effective May 10, 2012, replaces Version 4.0 as the current version of BPOSG.

The BPOSG provide a comprehensive framework for fundamentally correct, accurate, and efficient preparation of Broker Price Opinions (BPOs). BPOSG can be thought of as set of quality control measures which adhere to the fundamentals, techniques, procedures, and best practices for residential real estate price evaluations. As the name indicates, BPOSG has two separate components: Standards and Guidelines. The standards portion dictates what a BPO practitioner must do such as ethics and conduct, disclosures, proper application of techniques etc. Guidelines allow flexibility in application and are the best practices and procedures which are widely accepted across the industry. Flexibility is the key to the viability and utilization of the guidelines which overall enables BPOSG to meet the diverse requirements which are needed for the BPO industry.

To view and download BPOSG, please visit http://www.nabpop.org/BPOSG.php. BPOSG is free to download and utilize to the widest extent.

BPOSG was derived from a compilation of input, suggestions, and feedback from across the BPO industry including BPO companies, REO companies, mortgage servicers, and BPO practitioners (sales agents and brokers). The process was designed to ensure BPOSG is fundamentally sound, quality-oriented, timely, relevant, and effective. The BPO Standards Board (BSB) reviews and maintains BPOSG. The BSB is comprised of BPO subject matter experts with volunteer representatives from leading BPO and REO companies as well as experienced BPO practitioners. The BSB is facilitated by NABPOP and BPOSG is distributed and promulgated through NABPOP. “The members of the BPO Standards Board continue to provide relevant and functional guidance in the crafting of BPOSG. The effectiveness and wide utilization of BPOSG is a direct reflection of the technical expertise provided by the BPO subject matter expert members of the BSB” according to Michael Ramer, chairman of the BSB.

NABPOP is a non-profit professional trade association comprised specifically of real estate agents and brokers who are BPO practitioners. NABPOP is the foremost political advocate of the BPO industry protecting the rights of brokers and agents in the performance of BPOs. NABPOP also provides technical support, training, and formal education for BPOs. NABPOP tests for and grants a BPO certification based on house pricing and valuation knowledge as well as understanding and application of BPOSG. NABPOP is the certification authority for Certified Real Estate Pricing Specialists (C-REPS). Price is one of the most critical components of real estate transactions – buying, selling, or BPO – hiring C-REPS is wise choice to ensure an accurate house price.

NABPOP members benefit from the professional advancement of a robust BPO education and training program, a stringent BPO certification process, BPO job resources, Code of Ethics, and networking which is offered through the association. NABPOP is dedicated to advancing the professionalism and competency of BPO practitioners therefore elevating the BPO industry and, in part, the real estate valuation industry.

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Michael Ramer
NABPOP
(800) 767-0743 x201
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