BPO’s? Can real estate brokers perfom a”valuation of real estate” for a fee in Connecticut.?

sandra54: BPO’s? Can real estate brokers perfom a”valuation of real estate” for a fee in Connecticut.?
I am discovering that many real estate people are collecting a fee for doing BPO’s in Connecticut. Their clients are lending institutions and banks. Please share your comments and advice. How is this being done in Connecticut? Appraisers and Realtors, please share your knowledge.

Answers and Views:

Answer by acermill
Licensed real estate brokers and agents can perform BPO’s (Broker Price Opinions) for lenders and others for a fee. In doing so, they are not acting as a professional appraiser, and are only offering their estimate of a market value price for a fee.

This is quite legal and ethical.