Overview:
In this thirty-hour course, you will apply the principles and concepts you learned in Basic Appraisal Principles. The course will take you step-by-step through the valuation process including identifying the problem, collecting and analyzing data, reaching a final opinion of value and communicating the appraisal. You will learn about the three approaches to reaching an opinion of value-income capitalization, cost, and sales comparison-and apply them in true-to-life case studies and problems. After examining income capitalization methods and formulas, you will learn how rates and multipliers are derived. Through case studies you will discover the steps and concepts involved in the cost approach-how appraisers estimate the cost of constructing a reproduction of or replacement for an existing structure; the three major components of depreciation and methods for estimating and allocating depreciation; and land and site valuation. The course will guide you through the sales comparison approach including researching the market, verifying information, selecting units of comparison, conducting a comparative analysis, making adjustments, and reconciliation. You also will complete key sections of an appraisal report. In addition, the course provides an introduction to property description and construction and design basics. By successfully completing the course and exam you will have met most states’ education requirements for content identified as basic appraisal procedures.

Students have 45 days from the session start date to complete the course material for this program. This course is completed at the student's own pace.

Do I have to take the course exam?

You are required to complete and pass a proctored offline exam if:

• you are taking this class to meet state qualifying education requirements
• you are taking this class to meet the qualifying education requirements for an Appraisal Institute designation

You may be required to complete and pass a proctored offline exam if:

• you are taking this class to meet state continuing education requirements.  Most states do not require the exam for CE credit, but please confirm this with your state licensing board.

You are not required to complete and pass a proctored offline exam if:

• if you are taking this class to meet the continuing education requirements of an Appraisal Institute designation

• Identify the eight steps of the valuation process.
• Identify the basic components and processes used to derive a value indication when performing the income capitalization approach.
• Identify the six procedures for analyzing land or site value.
• Identify the three cost-estimating methods used by appraisers.
• Apply component costs to estimate the cost of residential building improvements.
• Identify typical elements of comparison used in the sales comparison approach.
• Analyze sales to select appropriate comparable properties.
• Derive adjustments using paired sales analysis.
• Reconcile the indicated values derived in the sales comparison approach to a single point value opinion.
• Recognize the types of reports used to communicate and appraisal analysis.

AI CE Credit for Designated members, Candidates for Designation and Practicing Affiliates
This program is approved for 1 hour of Appraisal Institute CE credit for every hour taken.