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!

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If the normal estimated marketing time is 150 days, what should the appraiser base the anticipated sales price on according to ERC guidelines?

190 days
120 days
150 days
180 days

The correct answer is: 120 days

The anticipated sales price should be based on the normal estimated marketing time of 150 days. According to ERC (Employee Relocation Council) guidelines, the marketing time is an important factor for appraisers when determining the value of a property. It reflects the typical timeframe in which a property is expected to sell under normal market conditions. Basing the anticipated sales price on the normal estimated marketing time ensures that the appraiser's valuation aligns with realistic market expectations. Options that suggest a different timeframe, either longer or shorter than 150 days, do not accurately reflect the guidelines and may lead to an unrealistic or skewed valuation. By adhering to the 150-day benchmark, the appraiser can provide a fair market value that takes into account the local real estate conditions and the typical duration properties are on the market in that specific area. Therefore, using 120 days, or any duration that deviates from the established norm, does not comply with best practices in appraisal under ERC guidelines. This makes it essential to stick with the standard timeframe for a balanced and justified price assessment.