I do BPO's behind of the local listing agents and we do talk about it. We sort of compare notes sometimes. Same thing for my listings and the second bpo person. I don't want my listings to come it at some outrageous price that will make it unsellable-----some agents will do that to you so you won't sell it. If the other person is way off base, I don't change my opinion, but usually we are pretty close.

I agree with ky realtor. You know about what it's worth, so talking to the other agent is just a confirmation. We've had a lot of new people jump in the REO market lately. I can only assume they're the ones giving completely overpriced BPOs when our listing prices come in 40K over what we suggested. We just know it will sit on the market for longer and the bank will eventually accept one of the handful of "lowball" offers (which are actually realistic) that come in.

But what about the confidentiality requirements? Doesn't discussing the value with other agents violate the requirement that I have seen from most companies to NOT discuss value with borrower or any other person?

I had an order last month that I comped out at about $50k less than the listing price- and that is being generous based on the great location. If it had been 10 miles north it would have been $100k less. The form would not accept any price less than listing price, so I put the listing price in there. I put in the section about additional things affecting value that I believed the subject to be overpriced in the listing, and that I felt it was worth $50k less based on my provided comps. They accepted my order, but I never heard anything about the difference in price.

I never punch a price in my searches, only GLA/rooms/age w/in 1/2 mile and then narrow features and expand area from there.