Humber/Ontario Real Estate Course 4 Exam Practice 2025 – The Comprehensive All-in-One Guide for Exam Success!

A comparative market analysis (CMA) is used by a salesperson to make a recommendation as to the maximum listing price. This is because the CMA compares the subject property with similar properties that have recently sold in the same area. By analyzing these comparable properties, the salesperson can advise the seller on the appropriate listing price to attract buyers while ensuring the property is priced competitively in the current market.

Option A is incorrect because a CMA should include both comparable properties for sale and those recently expired to provide a comprehensive market analysis.

Option C is incorrect as it details sources of information that can be used to prepare a CMA, but it does not define the purpose of the CMA itself.

Option D is incorrect as estimating the market value of a property for appraisers is generally done through a formal appraisal conducted by a licensed appraiser, not a CMA prepared by a salesperson.