Valuation Term
Broker Opinion of Value explained for apartment owners deciding whether to sell, refinance, exchange, or hold.
By Don Favia · Updated July 3, 2026
Direct Answer
A Broker Opinion of Value is a broker's market-based estimate of what a property could sell for under current conditions. For apartment buildings, a useful BOV reviews income, expenses, comparable sales, buyer demand, property condition, and market timing.
A BOV gives an owner a current market read before a major decision. It is especially useful when the owner is weighing a sale, refinance, 1031 exchange, estate issue, or partnership discussion.
A BOV is not legal, tax, accounting, or appraisal advice. Owners should consult the appropriate advisor for guidance specific to their situation.