ISSUE:

The agent has a relationship with a lender that has resulted in numerous REO property listings for the agent from the lender. The lender has now requested that the agent furnish broker price opinions (BPOs) on more than 300 of the lender’s properties in foreclosure. The lender will pay $75 for each BPO. Can the agent receive $75 compensation for each BPO?

ANSWER:

Yes. The agent is entitled to furnish BPOs to the REO lender. A.R.S. §32-3602(1). Inasmuch as the agent must be “acting” as a real estate agent, however, the $75 compensation should be paid to the agent’s broker.