I started doing Broker Price Opinions in 2008, right in the middle of the Great Recession.
Back then, BPOs weren’t trendy. They weren’t talked about in Facebook groups. There were no courses, no YouTube channels, no flashy marketing around them. They were simply work — and there was a lot of it.
Foreclosures were everywhere. Short sales were piling up. Banks needed eyes on properties, fast valuations, condition checks, and reliable local professionals who could keep up with the volume.
That’s where BPOs came in.
And while most agents were trying to survive the chaos of the market, I leaned into valuation work.
That decision changed everything.
The Part Most People Miss About BPOs
Here’s something most agents don’t realize:
BPOs didn’t disappear when the foreclosure crisis ended.
What happened instead was far more important.
Valuation companies — also known as AMCs — got used to a certain level of revenue. They built systems, staff, software, and investor expectations around that volume.
When foreclosures slowed, the industry didn’t shut down.
It adapted.
And that’s the key reason BPOs are still thriving today.
From Foreclosures to a Full Valuation Ecosystem
In 2008–2012, BPOs were largely tied to:
- Foreclosures
- Short sales
- REO inventory
But over time, valuation companies expanded the scope of what they ordered.
Today, BPOs are just one part of a much larger valuation ecosystem that includes:
- Traditional BPOs with comps
- Exterior inspections you can complete from your car
- Interior inspections with no pricing analysis required
- Occupancy checks
- Property condition reports
- Verification and data-only assignments
- Loss mitigation and portfolio reviews
These companies didn’t shrink — they diversified.
And that’s why the valuation industry has quietly become a billion-dollar-a-year business in the United States.
The Consistency Is the Point
Since 2008, I have never had a year where my income from BPOs fell below six figures.
Not during slow markets.
Not during hot markets.
Not when interest rates changed.
Not when inventory dried up.
Not during hot markets.
Not when interest rates changed.
Not when inventory dried up.
Why?
Because valuation work doesn’t rely on buyers being emotional, sellers being motivated, or deals closing on time.
Banks don’t “wait and see.”
They order valuations every single week, regardless of what the market headlines say.
That consistency is what makes BPOs different from traditional real estate income.
This Isn’t a Side Hustle — It’s an Industry
One of the biggest misconceptions I hear is:
“BPOs are just something agents do when the market is bad.”
That hasn’t been true for a long time.
Valuation companies now operate year-round, across multiple asset classes and use cases. They need agents who understand:
- How to work efficiently
- How to meet deadlines
- How to stay compliant
- How to handle volume
Agents who treat BPOs casually burn out or quit.
Agents who treat them like a systemized business build predictable income.
Why This Matters Now
The real estate market will always move in cycles. Closings speed up, slow down, pause, and restart.
Valuation work doesn’t care.
That’s why more agents today are quietly shifting part of their focus away from chasing deals — and toward building stable, repeatable valuation income alongside their sales business.
Not because they’re giving up on real estate.
But because they’re done relying on only one income lever.
The Bottom Line
I didn’t stumble into BPOs for a quick win.
I built around them — starting in 2008 — and they’ve carried me through every market cycle since.
The reason BPOs are still here isn’t nostalgia or luck.
It’s because valuation companies found ways to sustain, expand, and monetize this work at scale — and they’re not going back.
For agents willing to learn the system and treat it seriously, BPOs aren’t a fallback.
They’re a foundation.
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