Ace the Arkansas Real Estate Test 2025 – Unlock Your Property Pro Potential!

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Question: 1 / 400

How does a market analysis differ from a broker price opinion?

It only uses historic market data

It is limited to comparison to other real property currently or recently in the market

A market analysis is a general assessment of the market conditions for a specific type of property in a given area. It takes into account factors such as supply, demand, and pricing trends. A broker price opinion, on the other hand, is a more specific and detailed estimation of a property's value, usually conducted for a specific property that is currently on the market or has recently sold. This includes not only market data, but also the unique characteristics and conditions of the specific property. Option A is incorrect because a market analysis can also use current market data. Option C is incorrect because a broker price opinion does not provide legal advice. Option D is incorrect because a broker price opinion can be performed by a licensed real estate agent, not necessarily a certified appraiser.

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It provides legal advice on property sales

It must be performed by a certified appraiser

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