A. L. Appraisal Co.

“Independent Real Estate Appraisers & Consultants”
“Decision Makers Have Relied Upon Us Since 1971”SM

Broker Evaluation Service
(aka Broker Price Opinion or BPO)
Offered By New World Equities


An evaluation service provided in the capacity of a real estate broker (typically referred to as a Broker Price Opinion or BPO) is designed to provide, when appropriate, an alternative to a commercial appraisal.
A BPO by New World Equities permits a fast, and more importantly, reasoned and supported valuation opinion than is typically available from other non-appraisal competitive products. Users of this services have been commercial lenders, property owners, and governmental agencies.
A BPO is NOT an appraisal, and should never be confused with an appraisal as the formats and requirements are different. However, the critical eye of appraisal education and training is brought to each BPO assignment. Depending upon the situation a BPO is typically less expensive than a traditional appraisal.
A statement is included in the BPO engagement agreement and the BPO document that Mr. Levi is being hired as a real estate broker and NOT AS AN APPRAISER. The Client was/is advised the Broker is licensed as a real estate appraiser by the State of California and both parties agree the Broker is providing a BPO service, at the request of the Client, as a California licensed real estate broker and not as an appraiser. Both parties agree the rules, laws, regulations (including USPAP), obligations, customs, and practices required of an appraiser shall not apply to the BPO.


A BPO can be completed for a range of property types, including: office, retail, industrial, apartment, hotel, vacant land and special purpose properties.


Service is available for most of northern California. However, data availability may exclude some areas.


Delivery times are structured to meet your schedule. But, let’s be honest, it does take some time to complete a request, especially if it is to be done right. The time is generally five to seven business days. Delivery time can be longer depending upon the complexity of the assignment. RUSH service is available for an additional fee. The time frame of each assignment is decided up front by the parties and periodic updates regarding progress are provided.


A BPO is delivered in PDF format by email attachment or FTP server. FTP is utilized if the document cannot be included as an e-mail attachment or FTP is requested by the client. Special arrangements are available if a hard copy is required. Inclusion of the published data, so the reader knows the source and what is behind the numbers presented, causes these documents to often exceed fifty pages.


BPO’s are completed by Atom Levi. Mr. Levi has been continuously licensed as a California Real Estate Broker since 1976. He has acted as a real estate broker for both himself and others. He earned a Bachelor of Arts (BA) in Business Administration from National University, Sacramento, California and an Associates in Arts (AA) in Real Estate/Business from the College of the Sequoias. He has successfully passed the qualifying examination for the State of California Probate Referee. Download a PDF of Mr. Levi’s qualifications here: Atom-Levi-MAI-SRA-Qualifications.pdf


This easy-to-read document includes:


  • Exterior photographs (as seen from the street, including the street).
  • Interior photographs (requires a Commercial Property Inspection Report, an additional fee will apply)
  • Aerial photographs, when available, and from Google Earth® or other such data sources.
  • Assessor parcel map, when available.
  • Property information data sheet(s) as published by various data sources.
  • Comments regarding building size, site size, observed condition and materials as determined by observation and/or published data sources.
  • Comments regarding the observed subject property condition.
  • Narrative on immediate surrounding area characteristics.

Additional Services Available: (1) A Commercial Property Inspection Report and/or (2) a Building Sketch based upon exterior measurements. Each of these additional services requires on-site subject property access. The Commercial Property Inspection Report also requires access to the interior of the subject building. Each service is available for an additional charge.


  • Narrative regarding relevant market conditions.
  • Up to six pieces of relevant data are always sought. At the minimum at least three closed comparables (however current offerings may be substituted when there is insufficient closed data) are sought. Data is in a tabular presentation that includes relevant characteristics as well as units of comparison. Please note that the number of comparable data (sales and current offerings) depends upon the availability of data.
  • Published information regarding each comparable property, including its sale/listing documents, assessor’s record and other pertinent and available data. A photograph of each data is typically not included as the published data as well as aerial photographs are relied upon.
  • Location map of the data and subject.
  • An analysis to derive an indicated value.


  • Rental data. Includes published information regarding each rental comparable property.
  • Location map of the data and subject.
  • A reconstructed income and expense statement.
  • An income capitalization analysis to include an indicated price.


  • A discussion of the data, a suggested probable value range, and a suggested probable single point value.

Note: A sample BPO Evaluation is available upon request.