C-REPS Requirements

Think of C-REPS as super agents. C-REPS - Certified Real Estate Pricing Specialists, are real estate agents and brokers who have distinguished themselves as a cut above regular agents and brokers. In addition to their regular real estate activities of marketing, selling, and buying houses for clients, C-REPS are paid to perform home pricing reports, called Broker Price Opinions (BPO), for banks, lenders, mortgage servicers, and real estate valuation companies. In order to remain competitive in the BPO industry, in addition to becoming BPO certified, C-REPS must remain close to the pulse of their market and become very familiar with their service areas. C-REPS are an ideal choice to list a house for sale or to purchase a house.

The National Association of BPO Professionals (NABPOP) is the BPO Certification Authority for C-REPS. C-REPS is a designation conferred to members of NABPOP who have completed a BPO course, passed a stringent BPO certification test, and completed performance criteria. The C-REPS designation is a performance based designation. The higher a C-REPS scores on their certification test as well as the more performance criteria they complete, determines their standings with the organizations who hire them for BPOs (banks, lenders, BPO & REO companies etc.) as well as sorting higher in the "Find a C-REPS" directory. In short, the better a C-REPS performs to maintain their designation and certification, the more work they receive.

The following is a summary of the requirements and performance criteria of a C-REPS. Requirements:   •  Member of the National Association of BPO Professionals in good standings   •  Adhere to NABPOP code of ethics   •  Score above 80% on the NABPOP BPO Certification test Performance Criteria: • Certification Score (a higher cert score = more performance points) • Re-certify quarterly • Subscribe to an approved data service which provides market analysis • Contribute to NABPOP’s body of knowledge, any one or combination of the following:       •  Participate in BPO Certification beta testing       •  Submit case studies of BPO experiences or scenarios       •  Review and submit suggestions on BPO educational materials       •  Submit Certification testing questions       •  Submit articles relating to BPOs, valuation, and/or home pricing       •  Submit efficiency tools for BPO job completion       •  Coach and/or mentor less experienced BPO practitioners

The above Performance Criteria is participation which adds significantly to the body of knowledge which each C-REPS can access. This, in turn, significantly adds to a C-REPS skill set, resources a regular real estate agent or broker do not have.

BPO work inherently requires a C-REPS to and stay on top of the market and to intimately know their service area more than a regular agent or broker. In order to complete BPOs, C-REPS must inspect each house and property thoroughly, inspect and analyze neighborhoods, surrounding areas, and anything that will influence the prices of houses. Most C-REPS perform BPOs every day, so they have honed their skills and stay in practice virtually every day.

Think of C-REPS as super agents and brokers.

If you are an agent or a broker and are interested in learning more about becoming a C-REPS and/or the BPO industry, please visit www.nabpop.org