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BPO Simplified

BPO Simplified


Course Credit Hrs.
BPO Simplified 3.00
3 Required CE Hours
Understanding the Broker Price Opinion (BPO) is required to list bank foreclosures. 
  • BPOs, like CMAs, are estimates of the probable selling price of real estate properties, but specifically for foreclosed real estate owned by banks. In this course, you learn how the standardized BPO process differs from appraisals and CMAs. You’ll also learn the correct terminology used by the lenders, banks, and REO (i.e., foreclosed “real estate owned” by banks) outsourcers, as well as the basics of a BPO report, including what banks need to know about REO properties.

    3 Required Hours of Continuing Education
  • The foundation of the REO (Real Estate Owned) business is the BPO process (Broker Price Opinion). In this course you will learn who requires BPOs, why, and when. You will learn how to perfect the BPO process, which will help you to build a repeat BPO business. You will learn how to become a qualified BPO professional, completing concise and accurate BPOs.

    Section 1 Introduction to BPOs
    Chapter 1 - Course Overview
    Chapter 2 - What is a BPO?

    Section 2 The BPO Process
    Chapter 1 – Collecting Data
    Chapter 2 - Understanding Market Conditions
    Chapter 3 - Preparing to complete the BPO
    Chapter 4 - The Selection of Comparables- Competitive Listings and
    Closed Sales
    • Making Adjustments to a BPO
    • Suburban, City and Rural Markets & Guidelines for Counting the
    Number of Rooms in a Property

    Section 3 Adjustments
    Chapter 1 - Determining Adjustments
    Chapter 2 - Condition Rating Criteria
    Chapter 3 – Calculation of Adjustments
    Chapter 4 - Entering Information on the BPO form
    Chapter 5 - Marketing Strategy
    • Common Value Categories
    • Comments
    • Photos
    • Checklists for Preparing the Broker Price Opinion
    • BPO Submission and Record Keeping
  • Subject Matter Expert:
    James Browning

    James Browning is a national instructor/speaker for several organizations and has designed and developed five courses related to the valuation and disposition of both commercial and residential properties, and how to value distressed assets in today’s market. He has a Master’s Degree in Real Estate and holds numerous designations.

    James was a former commercial director for a national real estate company for 17 years during his 24 year real estate career. In 2009, James established the REO Institute of Colorado to provide BPO and REO training to real estate professionals. You will find James has an excellent understanding of today’s real estate market, along with thorough knowledge of both the commercial and residential sectors.

    Instructor: Jim Luger
    Jim Luger has been a broker and instructor for over 30 years. He is a member of the Real Estate Educators Association, and is certified as an online instructor by the International Distance Education Certification Center (IDECC). You can contact Jim at


Continuing Ed Express will submit your SD real estate continuing education course completions to the South Dakota Real Estate Commission. Per Article 20:69 of the South Dakota Administrative Rules.

Visit the South Dakota Real Estate Commission website for more information about continuing education requirements.

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