Which characteristic is not part of a good comparable?

Prepare for the Nova Scotia Association of Realtors Exam. Study with flashcards and multiple choice questions, each question includes hints and explanations. Get ready for your exam!

Multiple Choice

Which characteristic is not part of a good comparable?

Explanation:
When choosing good comparables, focus on factors that meaningfully influence value and can be measured across properties, so you’re comparing like with like. Time matters because market conditions change, so recent sales or listings are preferred and may require adjustments for date differences. Market value is the anchor you’re aiming to reflect with the comparables, and similarity is essential—comps should resemble the subject property in type, size, layout, age, condition, and location. Color of the roof is cosmetic and does not consistently impact value in a way that helps you select comparables, so it isn’t used as a basis for determining good comparables.

When choosing good comparables, focus on factors that meaningfully influence value and can be measured across properties, so you’re comparing like with like. Time matters because market conditions change, so recent sales or listings are preferred and may require adjustments for date differences. Market value is the anchor you’re aiming to reflect with the comparables, and similarity is essential—comps should resemble the subject property in type, size, layout, age, condition, and location.

Color of the roof is cosmetic and does not consistently impact value in a way that helps you select comparables, so it isn’t used as a basis for determining good comparables.

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