Dear Member,

This e-mail is a call-to-action to step up and become involved in the protection and advancement of our BPO industry. While “the sky is not falling”, valid pro-BPO information is lacking. Showing interest, becoming involved and providing information shapes policy. We need you to be a link in that chain to ensure that Broker Price Opinions are defended, protected, and advanced. We need to let the real estate industry’s federal trade association, the National Association of Realtors® (NAR), know how valuable and important BPOs are to you.

As you may already know, the BPO industry is being unfairly targeted by a few “special interests” and those who simply do not know the value of the Broker Price Opinion and its uses. Recurrently we have detected ill-fated attempts to block or restrict the use and practice of BPOs at the state and even at the federal level. NABPOP along with the Real Estate Valuation Advocacy Association (REVAA), a non-profit association comprised of valuation companies, are actively defending and advocating the BPO industry.

Currently, NAR does not have a policy in support of BPOs. Since performing BPOs is a vital aspect of many REALTOR’s® business model, we want to encourage the NAR to stand with us in our efforts to protect, defend, and advance the legitimate generation and use of BPOs. NAR bills itself as “the voice for real estate”, and since BPOs are such a growing method of valuation we would like the NAR to put forth a pro-BPO policy. You, as a REALTOR®, can give voice to this much-needed policy by contacting NAR via e-mail; letting it be known that BPOs are important to REALTORS® and the real estate industry in whole. The objective is a simple one, to have NAR establish a strong affirmative policy regarding the production, payment, and usages of Broker Price Opinions.

We ask that you send an e-mail message, as opposed to writing a letter or calling them, as the most advantageous method to send a message to NAR. Sending an e-mail message is a simple yet effective method that won’t place a strain on NAR’s resources. There are two e-mail options, an automatic e-mail (verbiage, subject, and addresses automatically populate the e-mail) or an e-mail that you can write in your own words. An e-mail in your own words will be more powerful and we encourage you to take the time to write an e-mail.

For automatic e-mail, simply click on the following link Automatic E-Mail to NAR and click send (some e-mail programs will not allow automatic population. If the above link does not pull up a new e-mail, you will have to follow the below link and use the “copy and paste” option). If you would like to write the e-mail in your own words, follow the below link where we have provided some talking points that you can use as reference as well as the e-mail address (bpo@realtors.org) to send the e-mail to. Click on the following link to access either option http://www.nabpop.org/Advocacy-CallToAction.php

The greater the number of requests that NAR receives, the greater the message will be. We encourage you to forward this e-mail to all of your associates that may have an interest in joining this call to action. The above page is accessible to the public and being a NABPOP member is not a requirement to participate in this call to action.

BPOs are a “win” for the mortgage industry, REALTORS®, and consumers. In today’s tight mortgage environment, BPOs are a key tool, which, for example, is reflected within Obama’s Homeowner Stability Plan designed specifically to help troubled borrowers restructure their debt.

In addition, the top mortgage servicers utilize BPO’s when evaluating the best course of action when reviewing short sales, REO strategy, and portfolio reviews. While appraisals are the preferred product for underwriting newly originated loans; for many other purposes, BPO’s are faster, less expensive, and are performed by professionals like you, who have their finger on the pulse of their local market.

The vast, indeed overwhelming majority of NAR’s membership – the agents and brokers, would benefit from a strong proactive “PRO-BPO” policy stance. This call-to-action is to let you know that, as a dues paying REALTOR® member, NAR needs to hear from you. With your help, NAR will realize the importance of BPOs to you and do the right thing, by issuing a pro-BPO statement or policy. Our organizations will then be afforded the powerful opportunity to stand shoulder to shoulder, defending and advancing the mutual interests of our groups’ members.

NAR is recognized as the leading housing trade association. Government, the media, and a host of influential folks turn to NAR for real estate information and opinions. To be sure, NAR has tremendous political clout, which is why it’s so important that they adopt a pro-BPO stance and policy. REALTORS® have the chance to urge the Association, to take a stand in support of their business practices. By sending NAR an email we can show the Association how much BPOs are supported by their members.

NABPOP would like to thank you in advance for your efforts and for your support of our political advocacy of BPOs.

If you have questions or comments, please contact NABPOP at 800-767-0743 option 102 or Support@NABPOP.com

we should all send at least one email daily!!!

I responded to the email and noted that from a professional point of view with my expertise and many many years in this industry, these tasks should be performed by Brokers and not realtors.

There is a huge difference in experience, knowledge, expertise, education and liability.

Myself and other brokers in my circle are lobbying for BPO's to be performed by brokers and not agents. We have been going before our local association of realtors and they have leaned towards us and we have also been before members of the government and they are in favor of this criteria as well.

Can't wait to see how this all unravels. I'm have my fingers crossed.

Sue Lean

Nice first post.....nicer trolling attempt. I can only hope that as a broker you communicate and use better grammar than you did with your post.

Fijiman- I received this same email from FARVV and NABPOP...well done.

lol..smg! Gotta love the trolls.

I did, I am in my mid 70's and have a secretary to type all of my thoughts, ideas and documents for me. I can't see as well as I once did and thus, I have someone with an eagle eye to back me up.

Good response...troll on. I doubt anybody will take your bait besides me. Carry on without me....I have BPOs to do.

Just sent my email. Let's stay on it! I just included a paragraph about the majority of realtors concerns about brokers over 70 working on bpo's and the damages it could cause innocent people... :):):)

That's discrmination and it is also illegal according to all federal regulations, guidelines and laws regarding real estate in all 50 united states.

LMAO, Crazy!

Seriously, though, my grandmother is in her 90's and still holds a RE license, but she hasn't been active since her late 80's. She still keeps the books of my mother's business, but everything has had to be double checked for the last few years. Until she was about 91 or 92 she was a pretty sharp cookie and could give you the sales history for many of the properties in town off the top of her head. I have no problem discriminating based on talent, but let's not get to discriminating based on age.

Whats the difference between a broker and myself? A class (that has nothing to do with bpo), state test, and extra money for a license renewal. Wow they are so much more qualified.

well, I had my 70 yr old broker read it and she didn't bat an eye at it but you're probably right

I got the same emails plus one from ET.....EML should be next......I'm having concerns about the mass emails from our clients.....makes me think something is the mix again......possibly Feds (Congress)?

Candy- I got the same letter from FARRV I think.. I don't think the banks are behind this specifically but remember when NAR had such big battles with banks and insurance companies keeping them out of RE? It seems like this will all be in house work given the direction this trains going. Hopefully the train stays in the USA. My concerns are realtors will be employees for banks to service their huge inventories, do bpos, sell, property manage, etc.