Humber/Ontario Real Estate Course 2 Exam Practice

What is the role of a real estate appraiser?

1. To assist in negotiating the sales price for a property

2. To estimate the property's market value based on comparative analysis

3. To conduct property inspections and provide warranties

4. To manage the legal paperwork during real estate transactions

5. To oversee construction projects and renovations

6. To facilitate open houses and marketing campaigns

The correct answer is: To estimate the property's market value based on comparative analysis

The role of a real estate appraiser is to estimate the property's market value based on comparative analysis. Appraisers are experts in determining the value of a property by considering various factors such as the property's condition, location, and comparable sales in the area. They provide an unbiased opinion of the property's worth, which is crucial for both buyers and sellers in making informed decisions. Conducting property inspections and providing warranties, managing legal paperwork, overseeing construction projects, facilitating open houses, and marketing campaigns are not typically within the scope of responsibilities for a real estate appraiser.