Communication that is understandable to the intended users, meaningful within the context of intended use, and compliant with appraisal standards is the focus of this seminar. Learn how to 1) review pertinent appraisal standards that are required in appraisal reporting, 2) provide practical recommendations for supplementing form appraisal reports using tools and techniques that improve compliance with appraisal standards and produce reports that are meaningful and understandable, and 3) suggest additional assignments (“think outside the form”) for new appraisal products and business opportunities.
The three-fold purpose of the seminar is to:
This seminar is not limited to a discussion of summary appraisal reports, quantitative analysis, traditional tools and techniques for developing value opinions, or “tried and true” methods of reporting assignment results. It stresses a broadened perspective and understanding of tools, techniques, concepts, products, and report options not used in typical mortgage appraisal assignments. There are many opportunities beyond mortgage appraisal work, and participants will learn to create new business models that “think outside the form.”
- Review pertinent appraisal standards that are required in appraisal reporting
- Provide practical recommendations for supplementing form appraisal reports with tools and techniques that improve compliance with appraisal standards and produce reports that are meaningful and understandable
- Suggest and promote alternatives to residential appraisers in addition to mortgage appraisal assignments, to “think outside the form” for new appraisal products and business opportunities.
At the end of this seminar, participants should be able to:
Who Should Enroll
- Prioritize and apply pertinent USPAP standards that govern effective appraisal communication.
- Implement the meaning of terms such as “summarize,” “analyze,” and “meaningful,” as they relate to professional appraisal standards.
- Perform and report a higher level of market analysis than typically required by pre-printed residential appraisal report forms.
- Visualize the value of spreadsheets, charts, and graphs in supporting assignment conclusions.
- Write an effective highest and best use summary.
- Identify and apply six critical tests for appropriate selection of comparable sales in the sales comparison approach.
- Provide real world solutions to appraisal problems regarding comparable selection.
- Recognize the advantages of qualitative sales comparison analysis and utilize qualitative techniques to provide credible assignment results when data for quantitative analysis is limited.
- Support adjustments in the sales comparison approach using tools, techniques, and methods derived from market analysis.
- Improve on the development and reporting of the cost and income capitalization approaches in residential appraisal assignments.
- Benefit from the advantages of using the Restricted Use Appraisal Report format in non-mortgage residential appraisal assignments.
- Utilize the process of reconciliation as one of the most useful tools available to the appraiser to analyze, summarize, and support conclusions in the appraisal report.
Residential real estate appraisers