In a possible first in the country, the Governor of Hawaii has signed legislation effective immediately which allows Real Estate Brokers to charge for their Broker Price Opinions. Some may question this but from experience I can tell you that many of the BPO forms are as complex as an appraisal. For those of you who have been around long enough to remember Relocation Realty Service Corporation ( Sold to Empire which was sold to Coldwell Banker which was converted to Cartus). But they used a six page BPO form. When I was considering earning my Appraisal Certification I was told that if I added a cost approach to the RRS BPO they would count as appraisal experience.
This new cost of doing business will be carefully reviewed by the RMC's of the industry.
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