What is a broker price opinion (BPO)?

What does a broker price opinion tell you?

A likely sale price, not an asking price. That difference is the whole point. In September 2026 the typical St. Lucie County single-family home sold for 95.7% of its original asking price, according to Florida Realtors. On a home first listed at $400,000, that is $382,800, a $17,200 gap between what the seller hoped for and what a buyer paid. A BPO is written to estimate the second number.

The people who order BPOs are usually not the people who live in the house. A loan servicer may need a current value on a loan it services. An asset manager may need a price for a home a lender took back. An investor may need values on a group of homes it is buying or selling. They need a number from someone who knows the local market, and they need it in writing.

What goes into a BPO?

In Brent's lender and investor work, a BPO was built from the same parts every time:

• The property itself: an exterior or interior inspection, depending on the order, with the home's condition and any repairs that would affect its price.
• Closed sales: usually 3 recent sales of similar homes nearby, the evidence of what buyers actually paid.
• Active listings: usually 3 homes for sale now, the competition the home would face if it listed today.
• Adjustments: differences in size, age, condition, lot, water and features, worked out in dollars for each comparable.
• One opinion of value, often with an as-is figure and a repaired figure, plus the broker's comments on the market and the time a sale would likely take.

The Sharp Number keeps that structure for homeowners: 3 closed sales and 3 active listings, adjusted for differences, with Brent's comments, usually within 48 hours. Here's how value is set in Port St. Lucie and what the Sharp Number includes.

How is a BPO different from an appraisal, a CMA and a Zestimate?

All four put a number on a home. They differ in who makes it, what it is built on and what you can use it for.

Sources: Florida Statutes s. 475.611 and s. 475.612 (2026); Zillow, What is a Zestimate? (accessed October 21, 2026).

Is a broker price opinion an appraisal under Florida law?

No, and Florida is specific about it. Section 475.612 of the Florida Statutes says three things that matter here:

• Only a state-certified or licensed appraiser may issue an appraisal report or use an appraiser title.
• A Florida licensed broker or sales associate may still provide valuation services for pay, as long as they don't present themselves as certified or licensed appraisers.
• A comparative market analysis, price opinion or opinion of value given by a broker or sales associate may never be referred to or treated as an appraisal.

That is why Brent calls himself a valuation expert and his work broker price opinions and valuations, never appraisals. If you are buying or refinancing with a mortgage, the lender orders its own appraisal; a BPO or a Sharp Number does not replace it. General information, not legal advice.

How far off can an online estimate be in Florida?

Further than most owners expect. Zillow publishes its own accuracy figures, and they are worth reading before you set a price from one:

For a home that isn't listed, which is every home whose owner is still deciding, Zillow's Florida median miss is 7.43%. On a $395,000 home, the September 2026 St. Lucie County single-family median, that is about $29,300, and roughly 4 in 10 Florida estimates miss by more than 10%. The estimate tightens once a home is listed because the list price feeds the model. A broker's opinion is only as good as the comparables behind it, which is why the Sharp Number shows you all six homes it is built on.

When should a homeowner get a broker's opinion of value?

• Before you set a list price. Price from closed sales, not from the asking prices around you. Our Port St. Lucie selling guide walks through it.
• After a listing expires. Start over from the sales that closed while your home sat. Read what to do before you relist.
• When you get a cash offer. An as-is value and a repaired value in writing show you what the offer is asking you to give up.
• When you are planning ahead for a move, a downsize or a family decision and want a number you can plan around.

When you need an appraisal instead: for a mortgage, and for any estate, tax or legal matter that calls for one. Ask your attorney or CPA which you need.

For the countywide picture each month, see the October 2026 TC Pricing Report.

Broker price opinion questions

Who wrote this?

Brent Sharp is the broker and owner of Sharp Real Estate Group LLC and a valuation expert with 26 years on the Treasure Coast. He has completed 12,000+ broker price opinions and property valuations for mortgage lenders, loan servicers, institutional investors, asset managers and REO and default-management firms, including extensive residential asset valuation for Kondaur Capital, and is a Clear Capital provider and Clear Market Expert.

Sources

1. The Florida Statutes (2026), section 475.612, Certification, licensure, or registration required: only certified or licensed appraisers issue appraisal reports; brokers and sales associates may provide valuation services for pay; a price opinion may not be called or construed as an appraisal. Accessed October 21, 2026.
2. The Florida Statutes (2026), section 475.611, Definitions (appraisal and appraisal services). Accessed October 21, 2026.
3. Zillow, What is a Zestimate?: nationwide median error 1.77% for homes on the market and 7.20% for off-market homes; Florida off-market median error 7.43%, 61.14% within 10%. Accessed October 21, 2026.
4. Florida Realtors, Monthly Market Detail, September 2026, Single-Family Homes, St. Lucie County, published by Miami Realtors ($395,000 median sale price; 95.7% of original list price received). Read October 21, 2026.

General information, not legal, tax or lending advice. Brent's valuation record: documentation available on request.

Last updated October 21, 2026 · Published October 21, 2026 · Reviewed by Brent Sharp, Broker