Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam. In this episode you will learn: • Market value is a theoretical estimate of the most probable price under ideal conditions. • Market price is the actual historical fact of what was paid in a transaction. • Arm's length transactions are the only reliable indicators of true market value. • Cost is the total expenditure for improvements and does not necessarily equal value or price. • Value is always an opinion whereas price is always a recorded reality. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep