CGA Marketing & Advertising Strategies 2

Question 1

Which marketing concept describes the process of dividing a broad real estate market into subsets of consumers with common needs?

Accepted Answer

Market segmentation

Answer

Market segmentation divides a broad market into distinct subgroups of buyers who have common needs, characteristics, or behaviors.

Question 2

An appraiser preparing a marketing analysis for a commercial property should primarily focus on which type of data?

Accepted Answer

Local absorption rates and vacancy trends

Answer

Local absorption rates and vacancy trends directly reflect supply and demand conditions in the subject property's market area.

Question 3

In real estate appraisal, 'exposure time' refers to the period during which a property:

Accepted Answer

Would have been offered on the open market prior to the appraisal date

Answer

Exposure time is the estimated time a property would have been on the market before the appraisal date if sold at the appraised value.

Question 4

A certified general appraiser analyzing a retail property's trade area should consider which primary factor?

Accepted Answer

The geographic area from which the property draws its customers

Answer

A trade area defines the geographic region from which a retail property draws the majority of its customers and is critical to retail market analysis.

Question 5

When appraising a property in a declining market, which marketing strategy consideration is most relevant to the analysis?

Accepted Answer

Extending estimated marketing time and adjusting for market conditions

Answer

In a declining market, appraisers must extend estimated marketing time and adjust comparable sales to reflect deteriorating conditions.

(CGA) Certified General Appraiser Practice Test

(CGA) Certified General Appraiser Practice Test

CGA Marketing & Advertising Strategies 2