Unverified sales data gathered from a local MLS would be considered primary data.

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Master the Mckissock General Appraiser Sales Comparison Approach Test with comprehensive quizzes and explanations. Enhance your skills in the appraiser profession and pass your exam with confidence!

Multiple Choice

Unverified sales data gathered from a local MLS would be considered primary data.

Explanation:
In appraisal data, primary data are those you gather firsthand through your own observations, inspections, or direct contact with market participants. MLS data are compiled by a third party and not collected by you, so they’re considered secondary data. If the MLS data are unverified, their reliability is even more in question, reinforcing that they are not primary data. Therefore, unverified sales data from MLS would not be primary data.

In appraisal data, primary data are those you gather firsthand through your own observations, inspections, or direct contact with market participants. MLS data are compiled by a third party and not collected by you, so they’re considered secondary data. If the MLS data are unverified, their reliability is even more in question, reinforcing that they are not primary data. Therefore, unverified sales data from MLS would not be primary data.

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