Broker Price Opinion · Chicagoland
A written opinion of what your property could sell for.
A Broker Price Opinion gives you a written selling-price range based on comparable sales, active competition, local market conditions, and what we know about the property. We deliver it as a PDF. You can order the report without listing the property or hiring us for anything else.
Scope
What goes into a Broker Price Opinion.
We review comparable sales, the listings competing for the same buyers, local pricing and demand, and the property’s condition as we understand it. The report explains the evidence and gives you a recommended selling-price range.
Online estimates rely heavily on public records and past sales. They usually cannot account for completed updates, deferred maintenance, unusual property features, or how the home compares with today’s competition. A BPO lets a licensed broker weigh those details.
Owners order a BPO when a sale, refinance, repair plan, estate decision, or investment review needs more support than an online estimate can provide.
A BPO is not an appraisal
A BPO is a licensed broker’s opinion of probable selling price. An appraisal is separate work performed by a licensed or certified appraiser. If a lender requires an appraisal, it will not accept a BPO in its place. Read more about where a BPO can and cannot be used.
Two versions
Choose a remote or onsite BPO.
Both options include the same market research. The onsite report also includes a property walkthrough.
Market research without a property visit
We review comparable sales, active competition, and local market trends without visiting the property. This is the option most clients choose.
Photos and specific property details help us make the report more useful. Tell us what was repaired or renovated, when the work was completed, and whether there is damage or deferred maintenance. Current photos, before-and-after photos, and supporting documents can help us narrow the range.
From $149
Market research plus a walkthrough
The onsite report includes everything in the remote report plus a visit to the property. We review the condition, layout, and other details that can affect price, so those notes come from what we observe in person.
Choose this option when the property has substantial updates, condition issues that are difficult to show in photos, or details you would prefer us to inspect ourselves.
From $199
The report
When a BPO helps, and what the report covers.
Most requests begin with one of these decisions. The report gives you a probable selling-price range and shows what supports it.
Selling, refinancing or renting
Review the likely selling-price range before deciding whether to sell, hold, rent, or speak with a lender.
A move or a relocation
Set a moving timeline with a more realistic idea of what a sale may produce.
An inherited property
Give heirs and executors a written range to work from. Ask the attorney or accountant first if the estate requires a formal appraisal.
Repairs and upgrades
See how the property may be priced in its current condition before deciding what to repair or update.
Choosing a listing agent
Use an independent written analysis to compare the pricing strategies agents recommend.
An investment property
Document the probable selling range for a rental or small commercial property without putting it on the market.
Delivery
We deliver the report as a clear, readable PDF that you can keep or send to an attorney, accountant, lender, or family member.
Pricing
Flat pricing by property type.
The fee depends on the property type and the amount of research involved. A three-flat takes more work than a condo, and a mixed-use building takes more than either. We confirm the flat rate before we begin.
Property types
We prepare BPOs for single-family homes, condos, townhomes, multifamily buildings, and mixed-use property, from an owner-occupied bungalow to small and mid-size investment holdings. If you are not sure which pricing row applies, send us the address and we will confirm it before you order.
The limits
A Broker Price Opinion reflects the market evidence available on its effective date and the property’s condition as we understand it. A licensed real estate broker prepares the report.
An appraisal is separate work completed by a licensed or certified appraiser under appraisal standards. A lender that requires an appraisal will not accept a BPO instead. Federal law also prevents a broker price opinion from serving as the primary basis for certain mortgage loan originations involving a buyer’s principal residence. If the report is for a lender, court, insurer, or tax authority, ask what that organization accepts before ordering. If you need an appraisal, we will tell you before the order moves forward.
Market conditions change. If your decision moves several months beyond the report’s effective date, ask us whether the analysis should be updated.
Questions
Frequently asked questions
What is a Broker Price Opinion?
A Broker Price Opinion is a licensed real estate broker’s written estimate of a property’s probable selling price. We review comparable sales, active competition, local pricing and demand, and the property’s condition as we understand it.
The report explains the evidence and ends with a recommended selling-price range. Broker Price Opinion is often shortened to BPO.
How is a BPO different from an appraisal?
A licensed or certified appraiser prepares an appraisal under appraisal standards. A licensed real estate broker prepares a BPO as an opinion of probable selling price. The assignments have different scopes, and a BPO usually costs less.
A BPO cannot serve as the primary basis for certain mortgage loan originations involving a buyer’s principal residence. If a lender, court, insurer, or tax authority will receive the report, ask what it accepts before ordering. Read more about where a BPO can and cannot be used.
Is a BPO the same thing as a CMA?
They can use much of the same market evidence. A complimentary listing CMA is usually prepared for an owner who is considering a sale and wants help choosing a list price.
A BPO is a separately commissioned assignment with a stated purpose, a defined remote or onsite scope, and a written report you can keep or share. Paying for a BPO does not make it an appraisal.
Do I have to list with Dorazio Real Estate?
No. You can order a BPO without listing the property or hiring Dorazio Real Estate for representation.
We may ask whether you are already working with an agent or want help with a sale, but neither is required.
What is the difference between the remote and the onsite BPO?
The onsite BPO includes a property walkthrough. A remote BPO uses comparable sales, active listings, local trends, and the condition details and photos you provide. An onsite BPO includes the same research, plus condition and layout notes from our visit.
Most clients choose the remote option. The onsite option is useful when substantial updates or condition issues are difficult to document in photos.
How fast can I get my report?
Tell us your deadline when you request the report. We will confirm a realistic delivery date before we start. Onsite timing also depends on when we can access the property.
What format does the report come in?
We deliver the report as a readable PDF that you can keep or forward as needed.
What property types do you cover?
We cover single-family homes, condos, townhomes, multifamily buildings, and mixed-use properties, including small and mid-size investment property. See the pricing table for the available report types.
What does a BPO cost?
Flat rates begin at $149 for a remote BPO on a single-family home or condo and reach $299 for an onsite BPO on commercial, mixed-use, or multifamily property with five or more units. The pricing table lists every option. We confirm the fee before starting.
What areas do you serve?
Chicago and the surrounding suburbs, out to roughly 30 miles from the Loop. That reaches Naperville to the west and takes in most of Cook, DuPage and Will counties.
On the South Side and in the south suburbs: Beverly and Mt. Greenwood, Alsip, Blue Island, Bridgeview, Evergreen Park, Hickory Hills, Oak Lawn, Palos Hills, Palos Park and Palos Heights, Willow Springs, Orland Park, Oak Forest, Mokena, Tinley Park and Frankfort.
West and southwest: Naperville, Wheaton, Downers Grove, LaGrange, Bolingbrook, Oak Brook, Hinsdale, Burr Ridge, Westmont, Lombard, Elmhurst, Oak Park and Berwyn.
North and northwest: Evanston, Skokie, Schaumburg, Arlington Heights, Des Plaines, Park Ridge, Niles and Rolling Meadows.
In the city: every neighborhood, from Hyde Park and Bridgeport to Logan Square, Pilsen, Lincoln Park, Lakeview, Rogers Park, Portage Park and Jefferson Park.
Not sure whether we cover you? Ask us. We usually do.
Can I use a BPO to refinance or to settle an estate?
A BPO can help you decide whether a refinance is worth discussing or give family members a shared selling-price range when reviewing an estate. It is not the appraisal a lender uses for underwriting, and it is not an appraisal for tax or probate purposes.
Ask the lender, attorney, or accountant what the situation requires before ordering. If a BPO will not meet the need, we will tell you.
Do you offer floor plans and photography?
Measured 2D and 3D floor plans are available as a standalone service for homeowners, agents, brokerages, property managers, investors, and other clients. We photograph Dorazio Real Estate listings and rentals in-house, but we do not currently offer photography as a standalone service to outside clients.
Get started
Request a BPO.
Send us the property address, why you need the report, and anything we should know about the property. We will confirm whether the remote or onsite option fits, the flat fee, and what we need from you before we start.
Prefer to talk first? Schedule a short consultation.