What must an appraiser include in their analysis of property transactions?

The correct choice indicates that an appraiser must include all agreements of sale, options, and listings in their analysis of property transactions. This approach ensures a comprehensive evaluation of market activity, providing a fuller picture of supply and demand dynamics. Including a wider range of data sources allows the appraiser to understand not only finalized sales but also potential sales that may impact market values, such as properties that are currently on the market or under contract.

By considering agreements of sale and options, the appraiser captures the intentions of buyers and sellers beyond completed transactions, which can be crucial in developing a more accurate opinion of value. Listings give insights into market supply and competitive pricing. Including this broader array of information aligns with the principles of market analysis, which require understanding not just what has happened but also what is currently occurring in the real estate market. This practice enhances the reliability of the appraiser's conclusions and assessments for their clients.