A broker opinion of value (BOV) in real estate is an estimate of a property’s worth, provided by a licensed real estate broker or agent. The BOV is typically prepared at the request of a client, such as a property owner, potential buyer, lender, or investor, and is intended to provide a reliable estimate of the property’s fair market value.

A broker opinion of value (BOV) in real estate may use both the market approach and the income approach to estimate the value of a property. The market approach involves comparing the property to similar properties that have recently sold in the area, while the income approach estimates the property’s value based on the income it generates or could potentially generate, such as rental income or cash flow from a business. By using both methods, the BOV can provide a more comprehensive and accurate estimate of the property’s fair market value.

A Broker Opinion of value is used by buyers/sellers, investors, property owners, lenders, banks, CPA’s, real estate attorneys, financial advisors, receivers and others to determine the current value of the property/asset and make informed decisions.