A professional opinion of a property's market value, based on established methods and using trained judgement, is performed by a:

Study for the Indiana RECP Comprehensive Test. Utilize flashcards and multiple-choice questions, each with hints and explanations. Prepare to ace your exam!

A professional opinion of a property's market value is predominantly the role of a real estate appraiser. Appraisers are specifically trained to assess the value of properties by using standardized methods including cost, sales comparison, and income approaches. They analyze various factors such as location, property features, market trends, and comparable sales to arrive at a market value. Their expertise lies in understanding how these factors influence real estate values and they follow regulatory standards and guidelines to ensure their appraisals are credible and reliable.

In contrast, while a real estate attorney may handle legal aspects of real estate transactions, they do not typically assess property value. A real estate counselor provides advice on real estate investments but does not perform appraisals. Additionally, a home inspector evaluates the condition of a property to ensure it meets certain standards, focusing on physical attributes rather than determining market value. Thus, the distinct training and focus of a real estate appraiser make them the correct answer in this context.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy