Free Pennsylvania Real Estate Practice Exam Practice Question
Which of the following SHOULD be considered when establishing a listing price for a home?
Correct Answer: A
Rationale: Establishing a listing price for a home requires a careful analysis of various market factors. Supply and demand for similar homes in the neighborhood (Option A) are crucial, as they directly impact the home's market value and attractiveness to potential buyers.
In contrast, the amount the seller paid for the home (Option B) is often irrelevant, as market conditions may have changed since the purchase. Option C, which considers the seller's personal financial needs, introduces bias that does not reflect the home's actual market value. Lastly, Option D focuses on homes in a nearby community, which may not accurately represent the specific neighborhood's market dynamics, making it less relevant for pricing decisions.
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