What is the main purpose of a broker price opinion?

The main purpose of a broker price opinion (BPO) is to suggest a selling price for a property. A BPO is typically prepared by a licensed real estate broker or agent who evaluates various factors, such as recent comparable sales (comps), the current market conditions, and specific attributes of the property in question. This analysis helps determine a reasonable price range for the property, guiding sellers in setting an asking price and assisting buyers in understanding the market value.

The other options, while related to property transactions, do not accurately capture the primary function of a BPO. For instance, advising buyers on loan eligibility is a process typically conducted by lenders rather than brokers. Evaluating property condition focuses on the physical state of the home, which is a different aspect of real estate assessments, and determining tax assessments is the responsibility of tax assessors, not brokers. Hence, suggesting a selling price is the central role of a broker price opinion.