Can an agent perform a CMA or BPO for a bank?

An agent cannot perform a Comparative Market Analysis (CMA) or a Broker Price Opinion (BPO) for a bank when it pertains to loan purposes, as these tasks are designated to licensed appraisers. While agents are skilled in analyzing market conditions and determining property values through CMAs and BPOs for their clients, the requirements set forth by banks and lending institutions specifically stipulate that only licensed appraisers can provide appraisals that serve as the basis for making lending decisions. This regulation exists to ensure a standardized level of professional judgment and accuracy in property valuation, which is crucial when financing is involved.

In many jurisdictions, including North Carolina, a CMA or BPO performed for a financial institution in the context of a loan is effectively considered an appraisal, and it must meet the strict criteria and licensure requirements outlined in appraisal laws. Therefore, without the appropriate appraiser license, agents cannot engage in these activities for banks.