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Real Estate Brokers, Broker Price Opinions and Comparative Market Analyses

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Chicago Legal Latte

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The Illinois Real Estate License Act of 2000 now authorizes real estate brokers to issue Broker Price Opinions (BPOs) and Comparative Market Analyses (CMAs) in connection with the sale or rental of real estate. It also exempts licensed real estate brokers from the Real Estate Appraiser Licensing Act of 2002 when they are issuing BPOs and CMAs for no compensation other than in connection with the sale or rental of real estate. This podcast with attorney Steve Migala explores the legislative changes to this Act as well as BPOs and CMAs generally.

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