Real estate data aggregator CoreLogic has launched a service to help investors acquiring property portfolios evaluate the quality of broker price opinions completed by other BPO vendors.

BPO Review is designed to be a less expensive and faster alternative to ordering new BPOs on every property within a portfolio and offers a typical turnaround time of less than three business days, Irvine, Calif.-based CoreLogic said in an announcement today.

“This solution was based on clients needing a way to get comfortable with the price estimates that are delivered within portfolio offerings,” said Dave Williams, vice president of broker price opinion services for CoreLogic, in a statement.

“BPO Review lets buyers and diligence firms test the quality of the existing BPOs and focus on the exceptions — properties where there is a disagreement on value or concern over complexity.”

The service, completed by a CoreLogic real estate professional, includes the company’s report on whether it agrees or disagrees with the sales price estimates it has reviewed; reasons for the finding; scores for the quality of the BPO’s comparables selection, price accuracy, property complexity and overall risk; and a new recommended price opinion.

BPO Review is meant to be used after a portfolio has been awarded, during the presettlement due diligence phase, CoreLogic said. The firm has another service, BPO Check, meant to be used during the pre-award bidding process to help calculate competitive bids.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're giving away 3 free ICLV tickets at Connect Now next week. Register and attend live for your chance to win!REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription