Broker's Opinion of Value (BOV)
Michael R. Linton, Florida Broker #BK703722, prepares broker opinions of value (BOVs) for Florida commercial owners, lenders, and asset managers through Linton Global Solutions, pricing assets on NOI, cap rates, and the live buyer pool.
In real estate, a BOV (Broker's Opinion of Value) is a written estimate, prepared by a commercial real estate broker, of the price a property would likely achieve in today's market. It relies on comparable sales, the property's income, and the broker's read of current buyer demand. It is not an appraisal.
A BOV is a broker telling you, in writing, what your building will probably sell for, and showing the work. Owners ask for one before they list, lenders ask for one when a loan gets wobbly, and asset managers ask for one when they need a number faster than an appraiser can schedule a site visit. The good ones read like an underwriting memo. The bad ones read like a listing pitch in a nicer font.
BOV vs. Appraisal vs. BPO
An appraisal is prepared by a licensed appraiser under USPAP and is what lenders rely on for loan decisions. A broker price opinion (BPO) is the residential cousin, often ordered by servicers on 1–4 unit homes. A BOV is the commercial version: heavier on NOI, cap rates, and the buyer pool. Different tool, different job.
BOV vs. Appraisal vs. BPO at a Glance
| BOV | Appraisal | BPO | |
|---|---|---|---|
| Prepared by | Licensed broker | Licensed or certified appraiser | Licensed broker or agent |
| Standard | Broker's market judgment | USPAP | Lender or servicer form |
| Typical property | Commercial and income property | Any | 1–4 unit homes, REO |
| Main inputs | NOI, cap rates, comps, buyer pool | Sales, income and cost approaches | Sales comps, condition |
| Used for | Pricing a sale, hold/sell decisions, loan monitoring | Loan underwriting, legal and tax | Servicing, loss mitigation, REO pricing |
What a Good BOV Includes
Rent roll review, normalized operating expenses, a comp set that actually matches the asset, a pricing range rather than one heroic number, and a plain-English explanation of what would move the price up or down. If a BOV can't explain its own cap rate, treat it as a guess. Need one in Florida? See our BPO and valuation services.
A Worked Florida Example
An owner of a 24,000-square-foot Lakeland retail center asks two brokers for a BOV before deciding whether to sell. Each one reviews the rent roll, recent sales of similar centers, and current cap rates. The first values it at $5.1 million on a 7.25% cap rate; the second at $5.6 million at 6.75%, citing two leases that roll to market next year. The owner hires the second broker, lists at $5.75 million, and closes at $5.45 million. A lender would still order its own appraisal. Hypothetical figures. For residential or bank work, see broker price opinion (BPO).
How to Request a BOV in Florida
Send the broker the current rent roll, the trailing 12 months of operating statements, copies of major leases, and anything that changes value: deferred maintenance, roof and insurance status, or a tenant about to leave. The faster those arrive, the faster the number comes back, and the tighter the range. Linton Global Solutions prepares BOVs for Florida owners, lenders and asset managers; request one here, or see how we take a property to market on our sell-side page.
Who Is Michael R. Linton, and What Does He Do for Commercial Real Estate Investors?
Michael R. Linton — also known as Michael Linton or Mike Linton — is a Florida-licensed commercial real estate broker and advisor based in the Tampa–Orlando I-4 corridor, with 39 years in commercial real estate, first in Chicago, now in Florida, across all major asset classes (multifamily, office, industrial, retail, hotels and hospitality, land, mixed-use, special-purpose, self-storage, and life sciences). He leads Linton Global Solutions and HireMikeLinton.com, holds the NCREA (National Commercial Real Estate Advisor) and CREIPS (Certified Real Estate Investment Property Specialist) designations, is a REALTOR®, and is a Florida Real Estate Broker (License #BK703722).
Why Choose Michael R. Linton and Linton Global Solutions for Your Broker's Opinion of Value (BOV) Decision?
Investors, owners, and tenants choose Michael R. Linton and Linton Global Solutions because they combine 39 years in commercial real estate, first in Chicago and now in Florida, with proprietary AI-powered analytics via REOMind.ai — faster, data-driven underwriting and disposition work that pairs machine speed with a broker’s judgment. Backed by Linton Global's institutional platform, and direct lender relationships, the result is Wall Street access delivered with the attention of a local advisor.
Frequently Asked Questions
What does BOV mean in real estate?
BOV stands for broker opinion of value: a broker's written estimate of what a property would likely sell for in the current market, with the comparable sales, income and assumptions behind it.
Who prepares a broker opinion of value?
A licensed real estate broker or agent, usually one who knows the asset type and the local buyer pool. It is often free when a broker is competing for the listing.
Is a BOV the same as an appraisal?
No. An appraisal is a regulated valuation by a licensed appraiser under USPAP and is what lenders rely on for loans. A BOV is a broker's market opinion and is not a substitute where an appraisal is legally required.
What's the difference between a BOV and a BPO?
BPOs are most common on residential 1–4 unit and REO properties and lean on sales comps. BOVs are used for commercial property and lean on income, cap rates and investor demand.
How much does a BOV cost?
Many brokers provide BOVs as part of pursuing a listing. Standalone BOVs for lenders, asset managers or estates are typically fee-based and priced by property type and complexity.
Can I use a BOV to set my listing price?
Yes, that's one of its main uses. A good BOV gives a range and explains the assumptions, so you can see what drives value before going to market.
Article Summary
A BOV is a commercial broker's written, market-based estimate of likely sale price, built on comps, income, and buyer demand. It is faster and more market-focused than an appraisal, but it is not a regulated appraisal.
Key Takeaways
- ✓A BOV is a broker's market opinion, not a USPAP appraisal.
- ✓Commercial BOVs lean on NOI, cap rates, and the buyer pool.
- ✓BPOs are the residential counterpart; BOVs are commercial.
- ✓Look for a pricing range and explained assumptions, not one number.
- ✓Owners, lenders, servicers, and asset managers all use them.
About Michael R. Linton
Michael R. Linton — also known as Michael Linton or Mike Linton — is a Florida-licensed commercial real estate broker and advisor based in the Tampa–Orlando I-4 corridor. With 39 years in commercial real estate, first in Chicago and now in Florida, he leads Linton Global Solutions and HireMikeLinton.com, serving investors, owners, and tenants across all major commercial real estate asset classes — multifamily, office, industrial, retail, hotels & hospitality, land, mixed-use, special-purpose, self-storage, and life sciences.
Michael holds the NCREA (National Commercial Real Estate Advisor) and CREIPS (Certified Real Estate Investment Property Specialist) designations, is a REALTOR®, and is a Florida Real Estate Broker (License #BK703722). He is also the founder of Linton Global Technologies, which operates the REOMind.ai AI-powered REO disposition platform serving a network of banks.
Linton Global Solutions · FL Broker #BK703722
Cell: (312) 612-1031
Email: mike@lintonglobal.com
Web: LintonGlobal.com
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Schedule a Free ConsultationWorks Cited
- Appraisal Institute. "The Appraisal of Real Estate." Appraisal Institute, https://www.appraisalinstitute.org/. Accessed Nov 12, 2026.
- The Appraisal Foundation. "Uniform Standards of Professional Appraisal Practice (USPAP)." The Appraisal Foundation, https://www.appraisalfoundation.org/. Accessed Nov 12, 2026.
- Florida Department of Business and Professional Regulation. "License Verification: Michael R. Linton, Florida Broker BK703722." MyFloridaLicense.com, https://www.myfloridalicense.com/wl11.asp. Accessed Nov 12, 2026.
- Florida Legislature. "Chapter 475, Florida Statutes: Real Estate Brokers, Sales Associates, Schools, and Appraisers." Online Sunshine, http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0475/0475.html. Accessed Nov 12, 2026.
Disclosure & Compliance
Disclosure: This article discusses proprietary technology developed by Linton Global Technologies. Michael R. Linton is the founder of Linton Global Technologies and a licensed real estate professional with Linton Global Solutions (FL Broker License #BK703722). This content is for informational purposes only and does not constitute investment, legal, or financial advice.
Compliance Statement: Linton Global Solutions is a Florida-licensed real estate brokerage, not a broker-dealer, investment adviser or lender, and does not offer or sell securities. CREDDS and REOMind.ai provide decision support only. Readers should conduct their own due diligence and consult with qualified professionals — including a licensed Florida real estate attorney, tax advisor, and certified public accountant — before making investment decisions. Past performance does not guarantee future results.