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Working with HomeSteps

We Value Your Neighborhood

Proper and accurate valuation practices are an important part of the HomeSteps sales process. We work with you to ensure that HomeSteps homes are safe and clean, properly valued and repaired as necessary to help improve neighborhood values which will ultimately help to stabilize markets.

HomeSteps Connect BPO Entry Issues

HomeSteps is aware of several issues with HomeSteps Connect (HSC) when entering BPOs. As we work to identify and resolve these issues, we will be sending communications with instructions on how to handle the issues.

Click here to see a list of known issues and helpful tips.

Frequently Asked Questions about the new BPO Form

Subject Property Description Section:

When should I enter a unit #?

A unit # should be entered when the subject's property type is Condo, 2-4 Unit or Townhome. If there is no unit #, complete with the house number.

What is Subdivision or Complex Name?

Subdivision or Complex name should identify the subdivision or complex where the subject resides. If there is a master community which contains several uniquely named subdivisions, use the subdivision name, not the master community name.

Neighborhood Information Section:

Can Present Land Use % be greater or less than 100%?

No. The sum of all categories within Present Land Use % must equal 100%.

Should I report all available listings in the neighborhood as # Competitive Active Listings, # Competitive Active Sold Per Month and Price Range of Competitive Active Listings in Neighborhood?

No. The key word is competitive. Only similar/comparable neighborhood properties should be reported.

What is # Competitive Active Sold Per Month?

This refers to the number of sold properties per month. Please disregard the word 'Active'; it is an error in the form.

2 – 4 Unit Section:

What information should I enter for Building Unit Comments?

The Building Unit Comments should include a summary of the condition of the interior and exterior building, property amenities and any external obsolescence or positive influences in or directly around the physical building.

Subject Information Section:

What is Subject Tier Condition?

The Subject Tier Condition refers to the maintenance and condition rating of the subject property at the time of inspection.

Five options are available for selection: Excellent, Good, Average, Fair and Poor. Click here to view the Property Condition Rating Key.

Why are there no check boxes next to Other and Zoning in the Check any Recommended Inspections section?

Other and Zoning are writable text fields.

Where can I recommend pool/spa inspections?

Pool/spa inspections may be recommended in the Other field.

Comparable Listings/Sales Section:

What is Location Rating?

Location Rating refers to the current state or condition of the neighborhood or immediate general area surrounding a property.

What do you mean by Site/View?

Site/View typically identifies positive or negative influences of an individual property. For example, a property on a golf course lot may be considered to have a 'Good' or 'Excellent' Site/View quality, and a property backing to active railroad tracks may be considered to have 'Poor' or 'Fair' Site/View quality.

Additionally, a condo ocean view from the tenth floor of a complex may be superior to a condo limited ocean view from the second floor of a complex. In this example, the tenth floor view may be 'Excellent' while the second floor view may be considered 'Good'.

Comments Section:

What information should I provide for Support Opinion of Price?

The following information should be provided:

  • Where did the subject's price land within the range of adjusted comparable sales
  • What condition issues, features, and locational influences in relation to the comparables and data submitted within the BPO support this price conclusion

Please remember to comment on both the established as is and with repair price.

What information should I provide for Support Recommended Marketing Strategy?

The following information should be provided:

  • Why you are recommending this particular strategy
  • What type of buyer is prevalent in the subject's market
  • Is your strategy supporting the prevalent buyer, the condition of the home and the drive to promote owner occupancy

Submitted By Section:

What should I do if I am experiencing issues when entering a phone number in the Phone Number field?

Please ensure that you are only entering numbers in this field. The system will not accept any special characters.

Miscellaneous:

How many characters can I type as comments?

Each comments section can accommodate up to 1,500 characters. The only exception is the final comment section, which allows up to 5,500 characters.

I see Verification Source in multiple sections. What should I enter for Verification Source?

Verification Source refers to identification of the source used to establish the reported information. Typical verification sources are 'MLS' or 'Tax Records', etc.

What are the size requirements for uploaded photos?

HomeSteps Connect (HSC) now requires that all photos must be between 25KB and 250KB.

How many photos can I upload?

You can upload up to three comparable sale photos, three comparable listing photos, ten subject photos and twenty repair photos.

Who do I contact if I have questions about the new BPO Form?

Please contact your property coordinator if you need assistance with completing BPOs or if you have any general questions regarding the new BPO form. You may also call HomeSteps customer service at 1-800-972-7555.

Valuations Comment Box

The HomeSteps Property Valuations team is interested in hearing your feedback and concerns. Please feel free to leave your comments in the form below. Please note: this comment box is intended for you to provide feedback to the Repair & Valuation Analytics team and is not an active mailbox. No response will be delivered after receiving your feedback.

 

View Updated Forms

Log in to Supplier Community to obtain the latest Broker Price Opinion and Broker Inspection/ Contractor Repair Bid forms, and to view training materials.

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