Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our comprehensive quiz. Dive into engaging practice questions that will enhance your understanding and readiness for the test. Elevate your confidence and get ready to ace your exam!

Practice this question and more.

Regarding the presentation of a comparative market analysis (CMA) to a seller, which statement is incorrect?

Be prepared to present factual data on past and current market trends that might impact pricing strategy.
Be ready to discuss comparable properties to offer a broad view of listing and sold prices to the seller.
A buyer will not overprice a property when provided with accurate facts about comparable listings included in the CMA.
Discuss the seller's property in relation to comparable properties, focusing on features and benefits for pricing.

The correct answer is: A buyer will not overprice a property when provided with accurate facts about comparable listings included in the CMA.

The statement highlighting that a buyer will not overprice a property when provided with accurate facts about comparable listings included in the CMA is incorrect because it oversimplifies buyer behavior. While accurate and factual information about comparable properties can significantly influence a seller's pricing strategy, it does not guarantee that a buyer will avoid overpricing. Emotions, market conditions, and individual buyer perceptions can lead to a seller setting a price that exceeds the market value, despite having access to comparative data. Buyers often base their offers on a combination of factors, including personal preference and competitive pressures, potentially leading them to overprice their properties regardless of the CMA provided. The other options effectively emphasize the importance of presenting accurate data and engaging in discussions that are essential when preparing a CMA. Providing factual data on market trends aids sellers in making informed pricing decisions, discussing comparable properties offers a comprehensive view of the market landscape, and focusing on the seller's property in comparison to others helps underline its unique features and potential selling points, all of which contribute to a more strategic and informed selling process.