New Jersey Real Estate Practice Exam Free Practice Question
A competitive market analysis will give the seller
Correct Answer: C
Rationale: A competitive market analysis (CMA) provides insights into the probable sales price by evaluating recent sales of similar properties in the area. This helps sellers set a competitive price based on real market conditions.
Option A, an appraisal value, is determined by a licensed appraiser and may differ from CMA findings. Option B, the net proceeds of sold properties, pertains to financial outcomes after costs, not pricing strategy. Option D, advertising strategies, focuses on marketing tactics rather than establishing a property's value. Therefore, a CMA is primarily about estimating a probable sales price.
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