Oregon Broker PSI Practice Exam

According to Oregon law, what is true regarding a Competitive Market Analysis (CMA)?

1. No fee can be charged for providing a CMA

2. The analysis may not be contingent upon reporting a predetermined value

3. A fee may only be charged if a contract is signed

4. The CMA must always result in a precise property value

The correct answer is: The analysis may not be contingent upon reporting a predetermined value

The reasoning behind the selection of the statement regarding a Competitive Market Analysis (CMA) pertains to the ethical and legal standards governing real estate practices in Oregon. A Competitive Market Analysis is an evaluation of the prices at which similar properties in an area have sold, which helps real estate professionals and their clients determine a reasonable asking price for a property. The correct assertion—that the analysis may not be contingent upon reporting a predetermined value—emphasizes that a CMA should be an objective assessment based on market data rather than a means to achieve a specific outcome or predetermined price. This ensures that the process remains transparent and grounded in actual market conditions, not manipulated for ulterior motives, such as meeting a seller's expectations or driving up a sale price. By adhering to this principle, real estate professionals maintain integrity and provide clients with reliable and factual information, fostering trust in their services. This approach aligns with industry standards and ethical practices that promote fair transactions.