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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In a Comparative Market Analysis (CMA), which data source is generally included?

Expired listings.
Only properties sold within the past 24 months.
Local listing services and GeoWarehouse.
Flood history of the property.
Rental incomes of nearby properties.
Appraisal values from lenders.

The correct answer is: Local listing services and GeoWarehouse.

In a Comparative Market Analysis (CMA), the data source that is generally included is local listing services and GeoWarehouse. This is because local listing services provide up-to-date information on active listings, pending sales, and sold properties in the area, giving agents a good understanding of the current market conditions. GeoWarehouse, on the other hand, is a valuable tool that provides comprehensive property data, including ownership history, legal descriptions, sales history, and comparable property sales information. This data helps in determining the appropriate listing price for a property based on comparable sales in the area. Expired listings, flood history of the property, and rental incomes of nearby properties are generally not included in a CMA as they do not provide relevant information for pricing a property accurately. Appraisal values from lenders can be useful but are not typically part of a CMA report which focuses more on current market conditions and comparable recent sales. Properties sold within the past 24 months are typically included, but the key source of data for a CMA is local listing services and GeoWarehouse.