A Broker’s Opinion of Value (BOV) is an opinion of the market value of a property based on the analysis made by a real estate broker. The BOV is usually provided in the form of a written report and involves research on the local market, recent sales data, and other factors that could affect the value of a property. The BOV is different from an [[Appraisal | appraisal]] in that it does not involve any onsite inspection or physical examination of the property. It is also not subject to any formal regulations or oversight. The broker’s opinion relies solely on their experience and understanding of the local market, as well as their interpretation of current trends in [[BankOpedia/Real Estate | real estate]] values. This means that BOVs can be more subjective than appraisals, which are typically conducted by certified appraisers using formal guidelines.