Solomon C, Lao, CCIM. Your Partner In Commercial Real Estate.
Broker Opinion of Value.....
Broker Opinion of Value is a price opinion. It is similar to appraisal reports but not exactly the same. An appraisal report is usually a tool for lending institution to use as a part of their underwriting process. Sometimes the reports can not honestly reflect the actual market conditions, because appraisers need to follow certain lending institution's guidelines when they are making appraisal reports. And most of the time the guidelines will ignore the actual market conditions.
Broker Opinion of Value can honestly indicate current market situation most of the time, because we only use current market data and the same math used by all the really world investors. That means we use the same language to communicate with all really world investors.
Broker Opinion of Value includes current area rent rates, asking prices, sold prices and demographic reports. This report will help property owners understand what current property value is and why.
Most importantly, this report does not follow any pre-set guidelines or limitations but only shows current actual market data. Therefore, the Broker Opinion of Value is the price opinion which reflects current market condition, and it should be accepted by all the really world investors.
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