Who is responsible for paying the sales associate that performs a broker's price opinion?

Study for the Magnolia Real Estate State Exam. Sharpen your skills with flashcards and multiple-choice questions; each question offers hints and explanations. Prepare to excel in your exam!

In the context of a broker's price opinion (BPO), the party responsible for paying the sales associate who performs the BPO is typically the bank that ordered it. A BPO is often commissioned by a financial institution, particularly in situations involving mortgage lending, foreclosures, or short sales, to estimate the value of a property based on current market conditions and comparable sales in the area.

When banks or other financial organizations need an assessment of a property's value to make informed decisions, they request a BPO from a licensed real estate professional. The bank compensates the real estate professional for their expertise in providing this analysis, which assists in making financial decisions regarding the property in question.

The other options would generally not be involved in the payment for the BPO. The buyer or seller may have interests in the valuation of the property, but they are not the ones paying for the BPO directly. Meanwhile, a real estate board's role is not to act as a financial intermediary in BPO transactions; their function typically revolves around regulatory and governance aspects rather than payment arrangements for services rendered by individual agents.

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