Arkansas Real Estate Practice Exam

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What must a Broker Price Opinion report include?

  1. A marketing strategy for the property

  2. A disclaimer about its non-appraisal nature

  3. A detailed cost breakdown for repairs

  4. A prediction of the property's value increase over the next decade

The correct answer is: A disclaimer about its non-appraisal nature

A Broker Price Opinion report is not an appraisal, so it is important for the report to include a disclaimer about its non-appraisal nature in order to protect the broker from potential legal issues. A marketing strategy for the property and a prediction of the property's value increase over the next decade are not necessary components of a Broker Price Opinion report. While a detailed cost breakdown for repairs may be included in the report, it is not a required element. Therefore, option B is the most correct answer.

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