Humber/Ontario Real Estate Course 3 Exam Practice

If a seller in a divorce action requests an appraisal, what should the newly licensed salesperson do?

1. Complete the appraisal using a narrative report.

2. Complete the appraisal using a form report.

3. Assist with listing price but refer to an appraisal expert.

4. Provide a market analysis for court submission.

5. Assist with both listing and appraisal with another realtor's help.

6. Consult with the seller's attorney before proceeding.

The correct answer is: Assist with listing price but refer to an appraisal expert.

The correct choice reflects the appropriate actions a newly licensed salesperson should take in a situation where a seller request an appraisal during a divorce action. In such scenarios, the salesperson is generally not qualified to perform appraisals, which require specific credentials and expertise. Instead of attempting to complete an appraisal themselves, referring the seller to a qualified appraisal expert ensures that the appraisal is conducted professionally and meets legal standards, crucial in sensitive situations like divorce proceedings. This approach also allows the salesperson to assist the seller with matters related to listing the property, thereby providing support without overstepping the boundaries of their expertise. Consulting with an appraisal expert will yield more accurate and legally defensible results, which is essential when the appraisal may be presented in court. Additionally, focusing on the listing price while leaving the technical appraisal work to an expert demonstrates professionalism and thorough understanding of the role of a realtor.