A Florida real estate licensee is preparing a Comparative Market Analysis (CMA) for a seller in Tampa. The licensee includes three comparable properties, market trends, and days on market data. However, the licensee titles the document 'Property Appraisal Report' and charges a separate $500 fee for the analysis. What issue exists with this scenario?
Correct Answer
C) The document cannot be titled as an 'appraisal report' since the licensee is not a licensed appraiser
Correct: Only licensed appraisers can prepare appraisal reports. Real estate licensees can prepare CMAs but cannot represent them as appraisals. Why not A: CMAs can include market trend analysis. Why not B: Licensees can charge for CMAs if properly disclosed. Why not D: There is no minimum requirement of five comparables for CMAs in Florida.
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