The NC Senate on Wednesday voted 47-1 to approve a bill that expands real estate agents' ability to perform market analyses of properties.
The House had earlier approved the bill, which was opposed by many appraisers.
The legislation allows brokers to perform broker price opinions, also known as comparative market analyses, for a fee for clients and third-party lien holders. Under current North Carolina law, brokers can only perform BPOs when they have a reasonable expectation of getting a listing.
The N.C. Association of Realtors lobbied for the legislation, saying it is needed to assist banks in dealing with the wave of foreclosures they've taken back in recent years.