Marketing & Advertising Strategies Flashcards
7 cards from real CGA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Marketing & Advertising Strategies flashcards as text
In appraisal practice, a 'supply and demand' analysis for a residential subdivision considers which marketing metric?
Answer: Monthly absorption rate of similar homes in the market area
Monthly absorption rate measures how quickly similar homes are selling, indicating whether supply and demand are balanced, oversupplied, or undersupplied.
An appraiser discovers that a commercial property has been marketed for 24 months without a sale. What conclusion is most appropriate?
Answer: The asking price may exceed market value, or there are significant property deficiencies
Extended marketing time without a sale typically suggests the price exceeds market value, or the property has functional, physical, or locational deficiencies limiting its appeal.
A 'delineated market area' in a real estate appraisal is best described as:
Answer: The specific geographic area within which properties compete with and influence the subject property
A delineated market area is the specific geographic region where properties are in direct competition with the subject and where buyers and sellers interact.
Which factor most directly influences the marketing strategy for a special-purpose property such as a church or school?
Answer: The limited pool of likely buyers and longer expected marketing time
Special-purpose properties have a limited buyer pool, requiring targeted marketing to specific user groups and typically resulting in longer marketing periods.
When appraising a property where the seller has used aggressive price reductions during the marketing period, the appraiser should:
Answer: Analyze the price reduction pattern to understand market reception and value indicators
Price reduction patterns reveal important market feedback about how buyers perceive value, helping the appraiser refine the value conclusion.
A 'niche market' in real estate appraisal refers to:
Answer: A specialized segment of the broader market with unique demand characteristics
A niche market is a specialized market segment with distinctive characteristics, such as luxury waterfront homes or adaptive reuse properties, requiring targeted analysis.
For USPAP compliance, an appraiser's market analysis must be:
Answer: Based on credible data and supported by factual market evidence
USPAP requires appraisers to use credible data and provide market analyses supported by factual evidence to produce reliable, unbiased value conclusions.