Pennsylvania passed legislation last year (Act 75 of 2018) that will allow Real Estate licensees to conduct Broker Price Opinions (BPOs). Previously, BPO’s were only permitted by appraisal licensees. Before real estate licensees can perform BPOs, the state real estate commission must issue regulations and identify pre-requisite education that must be completed.
The commission has issued an outline to meet the requirements for the development of a 3 hour BPO continuing education course under Act 75 of 2018.
Once the regulations have been issued real estate schools will be begin offering the required education so that licensees may legally perform Broker Price Opinions.
Until then, performing BPO’s is not yet an approved activity for real estate licensees in Pennsylvania.
For more detail on the legalization of Broker Price Opinions by real estate licensees, the Pennsylvania Association of REALTORs has prepared “2018 RELRA Amendments Frequently Asked Questions” which covers all of Act 75.