Question

The number one rule of adjusting the subject property in regards to the CMA approach is?

a. Consistency
b. Neutrality
c. Accuracy
d. Flexibility

Answer 1

The most important rule when adjusting a subject property for CMA is Consistency, ensuring a valid and accurate valuation. Congruence aligns self-perception with actions, good continuation informs our perception of lines, and collective decision-making may show a bias toward the status quo.

Step-by-step explanation:

The number one rule of adjusting the subject property in regards to the Comparative Market Analysis (CMA) approach is Consistency. When performing a CMA, it's crucial to apply adjustments consistently across all properties being compared. This maintains the validity of the comparison and ensures the most accurate valuation.

In relation to other concepts, one can consider the idea that people's ideas about themselves should match their actions, which is called congruence. Regarding visual perception, according to the Gestalt psychology principle, choppy or jagged lines are indicative of the law of good continuation. Lastly, in collective decision-making, there often exists a bias towards the status quo.

Answer 2

The most crucial rule in adjusting properties in the CMA approach is consistency (option a), ensuring comparable and reliable valuations by uniformly applying adjustments across similar parameters.

Step-by-step explanation:

The number one rule of adjusting the subject property in regards to the Comparative Market Analysis (CMA) approach is consistency. This means that when comparing properties to establish a market value for the subject property, adjustments must be applied uniformly across the board to ensure that the comparison is reliable and leads to an accurate valuation.

For example, if one is to adjust the value of a subject property based on its larger square footage compared to the comps (comparative properties), this adjustment must be made consistently when any property under consideration has a different square footage. Similarly, features such as the number of bedrooms, bathrooms, location, and amenities must be considered in a consistent manner.

Relating to Previous Questions:

1. The idea that people's ideas about themselves should match their actions is called congruence.
   
2. According to Gestalt psychology, the law that implies our visual perception tends to prefer connected and continuous figures is known as the law of good continuation.
   
3. In collective decision-making, there is often a bias toward the status quo, which can impact how groups arrive at a consensus or decision.