When we depend on someone's opinion, it is generally due to a lack of information or knowledge on our part. We believe the person knows more than we do; therefore we put our trust in their opinion. So what is an opinion worth? Before responding to this question, it is important to recognize that opinions come from three types of people.

The first person is someone who thinks they know what they are talking about, but they really don't know. This could be the neighbor down the street that says he can fix your computer. When he returns your computer, it isn't fixed, and it has more problems. It could also be someone like your out spoken relative. You know who I'm talking about. They always have an opinion on everything even though their experience and training on the subject is negligible.

The second type of person is someone who may know, but they have an agenda or are partial. If you ask a salesperson from a Chevy dealership which truck is the best, you should expect him to say Chevy. If you want to know the fair market value of a company, would you take the owner's word that his or her asking price is accurate? Getting an independent and objective opinion from him or her isn't very good.

The third type of person is someone who knows and has no agenda or bias. He or she is independent, objective, and competent. Here are a few questions to ask which will help you decide if you are getting an opinion from this type of professional.

What do trusted organizations have to say? Why do people trust the opinions of Consumer Reports and J.D. Powers & Associates? They have built a reputation on being independent, objective, and competent. Is the person whom you are relying on their opinion a member of a society or institute known for their independence, objectivity, and competence? He or she should have a designation or "stamp of approval" from the organization.

Does the person adhere to a code of ethics? Is the person competent in the field he or she is giving you their opinion? Does the person have a present or contemplated interest in the item being bought or sold or with one of the people involved in the transaction? Is the person's compensation a commission or is it a flat fee? I believe people being paid a commission have a problem. They appear to be an advocate not an independent and objective source. Credibility vanishes quickly when commissions are paid rather than flat fees.

To answer the earlier question of what is an opinion worth, it all comes back to the three types of people. An opinion coming from the first or second type of person is not worth much at all. An opinion from the third type of person is very valuable. Only you can decide which person you are dealing with.