Under RECO regulations in Ontario, what must a real estate professional disclose when providing a CMA to a client?
Correct Answer
A) That the CMA is not a formal appraisal and is an estimate of market value
RECO regulations require real estate professionals to clearly disclose that a CMA is not a formal appraisal but rather an estimate of market value based on comparable sales. This prevents confusion about the nature and limitations of the analysis.
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