Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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Homeowner Adams faces a choice between selling high and maintaining conformity in a neighborhood with smaller homes. What principle of value is most relevant?

Progression
Conformity
External Factors
Regression
Highest and Best Use
Anticipation

The correct answer is: Regression

The principle of value that is most relevant in this scenario is Regression. Regression is the principle that the value of a property is influenced by the lower value of surrounding properties. In this case, if Homeowner Adams chooses to sell at a high price that does not conform to the lower value of the surrounding smaller homes, the principle of regression suggests that this could negatively impact the perceived value of the property in the eyes of potential buyers. This principle highlights the importance of considering the characteristics and values of neighboring properties when making decisions about selling or maintaining a property.