Certified Relocation Professional (CRP) Practice Exam

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Enhance your relocation knowledge and skills with the CRP Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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If a transferee's home has a comparable marketing time of 90 days, what should the BMA be based on?

60 days
90 days
120 days
180 days

The correct answer is: 90 days

When determining the Broker’s Market Analysis (BMA) for a transferee's home, the comparable marketing time is a crucial factor. If the comparable marketing time is established at 90 days, this indicates that similar properties in the area are typically sold within that timeframe. A BMA based on this 90-day marketing period allows for a realistic assessment of the property’s value, reflecting current market conditions and anticipated selling time. Aligning the BMA with the actual comparable marketing time helps ensure that the pricing strategy is accurate and competitive, thus maximizing the chances of a timely sale. Other durations, such as 60 days, 120 days, or 180 days, do not accurately reflect the current market scenario indicated by the 90-day comparable marketing time. Choosing a timeframe shorter than 90 days might understate the expected selling period, while a longer timeframe could misrepresent the urgency or demand in the market, potentially leading to overpricing or prolonged time on the market.