A Queensland agent recommends a reserve to a seller and must back it with a comparative market analysis. What should the CMA compare?
Correct Answer
B) At least 3 similar properties sold within 5 km in the last 6 months
Queensland guidance says that if an agent recommends a reserve, the seller must be given a comparative market analysis comparing at least 3 properties of similar standard or condition, sold within 5 km and in the last 6 months. If 3 such sales cannot be found, the agent gives written market advice justifying the opinion.
Why This Is the Correct Answer
The QLD CMA standard is 3 similar sales within 5 km in the last 6 months.
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