A salesperson has been trying to create a competitive market analysis (CMA) for a potential listing. The immediate neighborhood has many bank owned foreclosure properties, which seem to have depressed the prices showing up in public records and on the MLS system. In this case, the salesperson A: Can seek similar properties from a neighborhood across town with fewer foreclosures to use as "comps" B: Cannot use a CMA since it will not show true market value. The broker should ask the sellers what they want for their home and list at that price. C: Should advise the sellers to rent their present home until the market improves. This way they can have an additional income to allow them to move up to a better home in a better neighborhood. The broker could then seek to sell the rented home to a house flipper as an investment. D: Should seek any non-foreclosure "arm's length" transactions for properties similar to her subject property in the same or nearby neighborhoods. Even if their prices have been depressed by the

A salesperson has been trying to create a competitive market analysis (CMA) for a potential listing. The immediate neighborhood has many bank owned foreclosure properties, which seem to have depressed the prices showing up in public records and on the MLS system. In this case, the salesperson A: Can seek similar properties from a neighborhood across town with fewer foreclosures to use as "comps" B: Cannot use a CMA since it will not show true market value. The broker should ask the sellers what they want for their home and list at that price. C: Should advise the sellers to rent their present home until the market improves. This way they can have an additional income to allow them to move up to a better home in a better neighborhood. The broker could then seek to sell the rented home to a house flipper as an investment. D: Should seek any non-foreclosure "arm's length" transactions for properties similar to her subject property in the same or nearby neighborhoods. Even if their prices have been depressed by the

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 36P

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