Humber/Ontario Real Estate Course 2 Exam Practice

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Homeowner Adams faces a choice between selling high and maintaining conformity in a neighborhood with smaller homes. What principle of value is most relevant?

  1. Progression

  2. Conformity

  3. External Factors

  4. Regression

  5. Highest and Best Use

  6. Anticipation

The correct answer is: Regression

The principle of value that is most relevant in this scenario is Regression. Regression is the principle that the value of a property is influenced by the lower value of surrounding properties. In this case, if Homeowner Adams chooses to sell at a high price that does not conform to the lower value of the surrounding smaller homes, the principle of regression suggests that this could negatively impact the perceived value of the property in the eyes of potential buyers. This principle highlights the importance of considering the characteristics and values of neighboring properties when making decisions about selling or maintaining a property.

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