Carrie's answer below is NOT the best answer. In PA it is illegal for agents to do BPOs. Period.
Pennsylvania Association of Realtors (PAR) has indeed written extensively about BPOs and their status in the Commonwealth of Pennsylvania. A Schuylkill County real estate broker took issue with my position stating that we cannot perform BPOs as agents or brokers. Here is the proof, cited from the PAR website.
This is from their website:
Can licensees perform Broker Price Opinions for a fee?
â€œBroker Price Opinionâ€ is not a legally defined term, as are â€œappraisalâ€ and â€œcomparative market analysis.â€ When a fee is charged for a BPO, it will either be considered an appraisal or a CMA. If it is determined to be a CMA (i.e., provided for the purpose of determining the asking/offering price for a property for the seller or buyer), then it falls within the scope of permitted activity for a real estate licensee. If, however, the BPO is determined to be other than a CMA, it will qualify as an appraisal, which requires an appraisal license to perform.
To avoid confusion, the term BPO should not be used for any written expression of value for a fee. â€œAppraisalâ€ and â€œcomparative market analysisâ€ are the terms that should be employed, depending on the purpose and scope of the valuation.
Agents from out of state should not be commenting on state rules/regulations out of their area of expertise.