A rea; estate licensee does a competitive market analysis for a seller to recommend a listing price for the real estate. Upon completion of the estimate, the agent meets with the prospective seller and refers to the estimate as an appraisal and suggests the property be listed at the appraised value. In this situation, was the licensee's actions correct?
A. Yes, the market analysis should be given to the seller before listing the property.
B. Yes, the appraisal will help the seller know the value of the property.
C. No, the licensee should not have referred to the estimate as an appraisal.
D. No, licensees cannot five opinions regarding the pricing of property.
Answer: C. No, the licensee should not have referred to the estimate as an appraisal.
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