A sales associate in Naples prepares a CMA that indicates a property value of $275,000. The seller insists on listing at $325,000, saying 'that's what I need to get out of it.' The seller threatens to find another agent if the sales associate won't agree to the higher price. What should the sales associate do?
Correct Answer
D) List at the seller's price but document the price recommendation and market data provided
Correct: D - List at the seller's price but document the price recommendation and market data provided. The licensee can list at the seller's requested price but should document that proper market analysis was provided and the seller chose to price above market indications. Why not A: This option is incorrect because "Refuse to take the listing at any price above the CMA indication" does not match the rule tested by the question. The correct answer is "List at the seller's price but document the price recommendation and market data provided". The licensee can list at the seller's requested price but should document that proper market analysis was provided and the seller chose to price above market indications. Why not B: This option is incorrect because "Suggest splitting the difference and listing at $300,000" does not match the rule tested by the question. The correct answer is "List at the seller's price but document the price recommendation and market data provided". The licensee can list at the seller's requested price but should document that proper market analysis was provided and the seller chose to price above market indications. Why not C: This option is incorrect because "Agree to list at $325,000 to maintain the client relationship" does not match the rule tested by the question. The correct answer is "List at the seller's price but document the price recommendation and market data provided". The licensee can list at the seller's requested price but should document that proper market analysis was provided and the seller chose to price above market indications.
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When preparing a BPO in Florida, a licensee should consider all of the following factors EXCEPT:
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A Florida homeowner sees a current market value estimate of $410,000 but an assessed value of only $300,000 because of long-term assessment limits. What is the dollar difference between market value and assessed value?