A Broker Opinion of Value or “BOV” is an informed estimate of a commercial property’s current market value. This determination is based assessing both the financial and physical condition of a property and the climate of the market.
The process begins with one of our brokerage professionals visiting the site to evaluate its income, expenses, physical condition, deferred maintenance, tax information, etc. The status of the market is also a factor in determining property value. Conditions which could impact value include: job growth, consumer trends and population growth. Along with an analysis of current sale and rent comparables in the area, this information allows the brokerage team to determine the estimated price a property would sell for in the event of an actual sale.
Owners interested in the Colliers International BOV process are usually strongly interested in selling and will gain greater insight into making the best possible decisions regarding their property. Often this insightful information helps owners gain the confidence to put their property on the market and list with Colliers International.
Contact firstname.lastname@example.org to schedule an initial meeting and begin the process.