Nevada Realtors Will Soon Be Allowed to Perform BPO's For A Wide Variety of Reasons
Here's an excerpt from our Nevada Association of Realtors Weekly Report.
This is great news for those of us in Nevada who have been providing BPO's for Asset Management Companies and REO Lenders.
Prior to the passage of this legislation agents in Nevada were limited in the scope of BPO's that we could provide. We were only allowed to prepare BPO's if we were attempting to obtain a listing. This new legislation will open the door for all of us who would like to expand the BPO segment of our business.
Another fine example of RENPAC at work!
NABPOP Applauds Nevada BPO Law By Teresa McKee, NVAR Legal Counsel
The Nevada Association of REALTORS® carried the Broker Price Opinion bill in the 2009 Legislative Session in Carson City. This bill, which benefits REALTORS® by allowing real estate licensees to perform Broker Price Opinions (BPOs) for a wide variety of purposes has received national attention. "This legislation sets precedence for lawmakers around the country regarding BPOs." said Michael Ramer, President of the Real Estate Valuation Advocacy Association (REVAA). You can read the entire Press Release by clicking here.
This bill becomes effective July 1, 2009. You can access the entire bill by clicking here.