Delaware License Law
Under Delaware law, what is a 'broker price opinion' (BPO) and may licensees provide them?
AA formal appraisal that replaces the need for a licensed appraiser
BAn estimate of value provided by a licensed real estate broker or agent based on market analysis — not a formal appraisal; Delaware licensees may provide BPOs for limited purposes but should not represent them as appraisals✓ Correct
CA government-regulated valuation tool requiring special certification
DA pricing analysis required for all Delaware listings
Explanation
A BPO is a broker's estimate of value based on market data and property analysis — not a state-licensed appraisal. Delaware licensees may provide BPOs (e.g., for relocation companies, lenders on REO properties) but must not represent them as appraisals. Providing a BPO without disclosing it is not a certified appraisal could violate license law.
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