Why is the sales history of the subject worth checking in a listing service as well as public records?
Correct Answer
C) Listings capture marketing attempts records never show
Why this is correct: Public records only show completed transfers. Listing services (MLS) track marketing history, including listings that expired or were withdrawn without sale, which is critical for analyzing market exposure and pricing trends. Why the other choices are wrong: Legal descriptions are precisely recorded in public deeds, not just listings. Public records do not omit all transfers between relatives; they record all deeds. Assessed values are from tax records, not listing services. Exam tip: Check MLS for failed marketing attempts that don't appear in deed records.
Why This Is the Correct Answer
Why this is correct: Public records only show completed transfers. Listing services (MLS) track marketing history, including listings that expired or were withdrawn without sale, which is critical for analyzing market exposure and pricing trends. Why the other choices are wrong: Legal descriptions are precisely recorded in public deeds, not just listings. Public records do not omit all transfers between relatives; they record all deeds. Assessed values are from tax records, not listing services. Exam tip: Check MLS for failed marketing attempts that don't appear in deed records.
More emerging-appraisal-methods Questions
An appraiser consults a geographic information system for parcel boundaries. What limitation applies?
How does an alternative inspection method affect the appraiser's disclosure obligations?
A collector's photographs show a condition the appraiser believes needs specialist assessment. What is the appropriate step?
What responsibility does an appraiser retain for an error originating in a third-party database?
Under current USPAP guidance, what is the output of an automated valuation model before an appraiser analyzes it?
A lender's guidelines require an interior inspection, but the client asks for a desktop product to save time. What should the appraiser do?
How should an appraiser respond to a client requesting a shorter turn time than credible results allow?
Which assignment type still requires the appraiser to develop an opinion of value?
An appraiser relies on a published capitalization rate survey. What must be considered?
A model returns an estimate far from the appraiser's own conclusion. What is the appropriate response?
People Also Study
Valuation Principles & Procedures
25% of exam
Property Description & Analysis
20% of exam
Market Analysis & Highest/Best Use
15% of exam
Appraisal Math & Statistics
15% of exam
USPAP (Ethics & Standards)
15% of exam