All Forum Posts by: Ebony Martin

@Maxwell Silva No problem. PSA (Pricing Strategy Advisor) Designation. To obtain this designation, you have to take the Pricing Strategies: Mastering the CMA course. It's a great course that I found was very helpful as a 'newbie'.

@Maxwell Silva No problem. PSA (Pricing Strategy Advisor) Designation. To obtain this designation, you have to take the Pricing Strategies: Mastering the CMA course. It's a great course that I found was very helpful as a 'newbie'.

@Maxwell Silva you are absolutely right.  I started with BPOs and complimented it with a PSA.  When I started getting listings, I was very confident that I was providing accurate comps to my clients where their homes didn't sit on the market.  Do enough BPOs and you actually become a 'pricing expert'; credible experience and a good selling point to your potential sellers.  I wish you all the best in your new real estate career. 

@Maxwell Silva In Texas, to perform BPOs, licensed agents are required to sign up with a BPO company under their sponsoring broker. No special permits are required but some BPO companies require you to do their inhouse training. The agent has to provide E&O and W9 information along with other supporting docs during the application process. Once all information and docs are on file and approved, the agent performs and submits the BPO in their name.

Though the pay is minimal per BPO ($25-$50) and can be time consuming i.e- taking exterior photos of property, running active & sold comps, entering and analyzing the data, and determining a valuation; it is a very good way for new agents to get experience  and learn to price homes comparatively.  Some agents get pretty efficient with doing BPOs by doing 20 plus BPOs weekly and the $25-$50 per BPO is not too bad.  It's also definitely good when things are slow and like you mentioned, it gets your name out there with banks.  However, I do agree with @Christopher Phillips , a lot of experience is needed before a bank or asset manager hands over a listing.