Affiliate Broker Tennessee (TN PSI) National Practice Exam `

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Study for the Affiliate Broker Tennessee National Exam. Practice with flashcards and multiple choice questions, with hints and explanations. Prepare well for your licensing exam!

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What is the primary role of an appraiser in the real estate process?

To sell the property
To estimate value
To manage property transactions
To negotiate pricing

The correct answer is: To estimate value

The primary role of an appraiser in the real estate process is to estimate the value of a property. This involves conducting an objective evaluation of the home or property based on various factors, including its location, condition, size, and recent comparable sales in the area. The appraiser uses these factors to arrive at a fair market value, which is crucial for buyers, sellers, and lenders. This estimate helps ensure that a property is not over- or under-valued during a sale or refinancing transaction, which is essential for making informed decisions and for securing appropriate financing. An accurate appraisal can influence the sale price, affect loan amounts, and guide negotiations between parties, thereby playing a critical role in the overall real estate process.