Certified Relocation Professional (CRP) Practice Exam

How should the appraiser's estimated values be reported in the ERC appraisal report?

1. As better than the best comparable

2. As the same as the highest comparable with adjustments

3. Within the range of adjusted comparable sales prices

4. As the market average of comparables

The correct answer is: Within the range of adjusted comparable sales prices

The appraiser's estimated values in the ERC appraisal report should be reported within the range of adjusted comparable sales prices. This approach is grounded in the practice of real estate appraisal, which relies on comparables to establish a more accurate market value. By reporting values within this range, the appraiser acknowledges the variations that can exist among comparable properties while providing a range informed by actual market data. Reporting values within the range of adjusted comparable sales prices reflects a systematic analysis of the market conditions and characteristics specific to the properties being evaluated. It allows for flexibility in interpretation while ensuring that the values assigned by the appraiser are substantiated by the comparable sales data. This method promotes objectivity and reliability in the appraisal, which is crucial for both the relocation management process and for stakeholders involved in the transaction. In contrast, other options suggest more absolute or less flexible approaches that might not accurately capture the nuances of the market dynamics reflected in the adjusted comparable sales prices.