In Ontario, what is a key limitation that real estate salespersons must consider when preparing a CMA?
Correct Answer
C) CMAs provide an opinion of value, not a formal appraisal
In Ontario, real estate professionals must clearly communicate that a CMA provides an opinion of value based on market analysis, not a formal appraisal. CMAs are valuable tools but have limitations and should not be presented as definitive valuations like professional appraisals.
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