Check Your Understanding-Answers
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What is a competitive market analysis?
A comparison of properties that are similar to the seller's property in location, size, style, age and amenities
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When looking at homes currently for sale, what is important for a prospective seller to know about asking price?
Asking price is not always a good indicator of the actual selling price of a property.
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When preparing a competitive market analysis, what categories of homes should an agent research?
Expired properties not sold
Recently sold properties
Properties currently for sale
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What is a good method for estimating what a seller will net from the sale of the property?
Obtain and complete the Estimated Seller's Proceeds form, which estimates all of the costs involved in the sale and subtracts that amount from the estimated selling price.
