A broker has been asked to do a CMA/BPO (broker price opinion) by a bank on a foreclosed property. The broker will not be listing the property for the bank and, in this case, the broker
a. must get permission from his employing broker before completing the CMA
b. must state that she is not a registered or licensed appraiser
c. should make sure to use only foreclosed properties as comparables
d. may not receive a fee for completing the CMA
Answer: b. must state that she is not a registered or licensed appraiser
Business
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