How does a Broker Opinion of Value differ from a commercial appraisal?

Although both seek to estimate market value, they serve different purposes. A commercial appraisal is performed by a licensed appraiser and follows recognized appraisal standards for lending, legal proceedings, taxation, or other formal requirements.

A Broker Opinion of Value is prepared by an experienced commercial real estate professional who evaluates current market activity, comparable transactions, buyer demand, leasing conditions, and marketability to assist owners in making strategic business decisions.

Each serves an important purpose, but they are designed for different situations.

Understanding which opinion best fits your objective is often the first step.