In which pricing determination method does the real estate professional typically just drive by the property and take photos?

The brokers price opinion method involves a real estate professional providing an estimate of a property's market value based on their experience and knowledge of the real estate market, often through a visual inspection of the property. This typically includes a drive-by to assess the property's condition, location, and comparability to similar properties in the area. By taking photographs and making quick observations, the real estate agent can gather immediate insights that contribute to their assessment without the need for a detailed and formal appraisal process.

In contrast, a comparative market analysis is a more detailed examination that includes assessing recent sales of similar properties and may involve more than just a drive-by evaluation. An appraisal is a formal process conducted by licensed appraisers, who provide a comprehensive valuation that adheres to specific standards and regulations, often involving in-depth analysis and comparisons. A home inspection is a thorough examination of the property's condition, focusing on structural and system-related issues, which requires more detailed inspection than simply looking from outside.