A sales associate in Jacksonville wants to charge $300 for preparing a detailed CMA for a potential seller who is interviewing multiple agents. The seller is not yet committed to listing with any particular agent. What must the sales associate do regarding this fee?
Correct Answer
B) Must have written authorization from their broker and provide proper disclosure to the client
Correct: Sales associates must have broker authorization for all activities and must properly disclose any fees to clients. Why not A: Fees can be charged for CMAs even without a listing agreement if properly disclosed. Why not C: FREC approval is not required for CMA fees. Why not D: All fees must be disclosed and authorized by the employing broker.
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Previous Question
A Florida licensee is preparing a CMA for a 3-bedroom home in Orlando. Three comparable sales are: Property A sold for $285,000 (2 bedrooms, +$15,000 adjustment needed), Property B sold for $310,000 (4 bedrooms, -$20,000 adjustment needed), and Property C sold for $295,000 (3 bedrooms, no adjustment needed). What is the indicated market value range the licensee should present?
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In Florida real estate practice, what is the primary difference between a Broker Price Opinion (BPO) and a Comparative Market Analysis (CMA)?