NCh3 The CMA And BPO

Question 1

Name the tool used by licensees to help sellers determine a realistic price for their property, comparing a subject property to current listings, recent sales and even expired listings of unsold properties. .

Answer 1

Comparative market analysis, CMA

Question 2

The result of the CMA producing a range of value for a property rather than an exact price is called

Answer 2

Competitive market analysis

Question 3

A brokers written opinion of value, most often requested by attorney or a relocation company, rather than by a principle to the transaction, and often used by lender involved in a short sale of a distressed property is called

Answer 3

BPO or Brokers Price Opinion

Question 4

Can a sales licensee prepare a BPO in a broker’s name?

Answer 4

Yes