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Grow Your Income: Earn NAR’s BPOR Certification

Nov 3, 2011

Posted by

Heidi Henning

Heidi Henning is a Managing Director for the National Association of REALTORS Business Specialties Group. Henning oversees a number of designation and certification programs including NARs e-PRO Cert Read more

The current housing market presents many challenges to our real estate industry, few more important than valuation.  Evaluating properties depends more than ever on professional expertise and competence, the best use of technology, and a commitment to approach the valuation assignment from all pertinent perspectives.

According to industry estimates, more than 10 million Broker Price Opinions are performed annually throughout the country.  BPOs provide critical information for decisions and have been widely adopted as a valuation tool in the mortgage industry and, increasingly, for government programs intended to aid the economy and help homeowners avoid foreclosure.  For brokers and agents, BPOs provide multiple professional and financial opportunities for growth and expansion.

NAR’s Broker Price Opinion Resource (BPOR) Certification is awarded by the National Association to residential real estate practitioners who are dedicated to advanced training and towards creating professional and accurate BPOs.

“BPOs:  The Agent’s Role in the Valuation Process” is specifically designed to help residential real estate agents and brokers enhance their skills in creating BPOs, reducing risk, and applying alternative valuation techniques.

Earning the BPOR Certification

Whether you are experienced at preparing broker price opinions or are new to the business, the education provided through the BPOR course can help you sharpen your valuation skills.  Four requirements must be met to earn and promote the BPOR certification:

1.)  Membership in good standing with the National Association of REALTORS®.

2.)  Successful completion of the one-day core course “BPOs:  The Agent’s Role in the Valuation Process.”

3.)  Completion of one free Webinar.

4.)  Submission of a BPOR application with one-time certification fee.

The one-day course, “BPOs: The Agent’s Role in the Valuation Process” is required to earn the certification.  At the conclusion of this course, you will be able to:

1.)  Prepare accurate and professional BPOs.

2.)  Evaluate market valuation tools for the most productive preparation of BPOs.

3.)  Identify and weigh all significant factors influencing the creation of a useful valuation.

Students can complete the one-day “BPOs: The Agent’s Role in the Valuation Process” course either live in the classroom or online through REALTOR® University.  Members who earn the BPOR Certification will be eligible to receive BPO orders and earn BPO revenue.

Benefits

Earning BPOR provides a number of important benefits, in addition to enrollment as a preferred BPO provider eligible to receive orders from the leading BPO management companies:

1.)  Accreditation that comes with the use of the BPOR letters after your name and in your marketing materials.

2.)  BPOR digital certificate.

3.)  Differentiation as a BPOR in the Realtor.org online directory.

4.)  Logo files that can be used on business cards, e-mail signatures and print ads.

5.)  BPOR pins to promote your certification.

6.)  No annual certification dues (must maintain membership in NAR to use BPOR).

7.)  Differentiation as a BPOR on Realtor.com®.

8.)  Elective course for the ABR® designation.

To quote a BPOR course attendee:  “The BPOR program is high quality, comprehensive and relevant.  Students walk out of the class with the understanding of the difference between an appraisal and a BPO, preparing comps and the valuations given for pluses and minuses, as well as tips on working with third party vendors.

The hands-on exercises in the afternoon classes provide the much-needed practice preparing a BPO.  This class is not just about theory and is a must for members working in or interested in BPOs.” 

Continued Education

Highlighting topics directly related to buyer representation, the BPOR certification course counts as elective credit towards earning the Accredited Buyer’s Representative (ABR®) designation for buyer representatives.

Agents interested in earning the BPOR certification can visit BPOR.org to learn more or Training4RE.com to access a variety of designation and certification courses available online and live in the classroom.

Working on behalf of America’s property owners, The National Association of REALTORS® (NAR) provides a facility for professional development, research and exchange of information among its members, and to the public and government for the purpose of preserving the free enterprise system, and the right to own, use, and transfer real property.

NAR strives to be the collective force influencing and shaping the real estate industry.  It seeks to be the leading advocate of the right to own, use, and transfer real property; the acknowledged leader in developing standards for efficient, effective, and ethical real estate business practices.  It also seeks to be valued by highly skilled real estate professionals and viewed by them as crucial to their success.