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Overview:
Many times appraisers don't receive feedback from their clients after they complete the report. Did the report meet, exceed, or fall short of their expectations?
By taking this seminar, you'll understand what bothers commercial clients most about appraisal reports, and the analysis and items many appraisers typically miss. Hear what your clients don't tell you...and why they don't rehire you. We asked the Appraisal Institute's Client Advisory Committee, a committee comprised of governmental agencies, commercial lenders, and non-traditional residential clients to provide us with examples of the most problematic issues they face when reviewing appraisals. Explore all those issues and gain specific insights into areas where your reports might be lacking. Throughout the class we will discuss commercial issues and how we can provide a higher level of service to our clients.
Learn the best practices to use when performing valuation assignments. You'll be able to reach a mutually beneficial course of action that will lead to repeat assignments. Major areas that cause concern to clients will be addressed, including client regulatory needs, legal descriptions, easement language, appraisal report exhibits, special issues related to vacant land, sensitivity of DCF inputs and more. After this seminar, you'll better meet your clients needs and prepare reports that are logical, thorough, and accurate.
Syllabus:
Module 1: Basic Appraisal Issues
Module 2: Understanding Client Regulatory Needs
Module 3: Are You Overlooking These Items?
Module 4: Market Analysis and Highest and Best Use
Module 5: Approaches to Value
Module 6: Reconciliation
Learning Objectives:
Recognize the distinctive differences between the client and the intended users.
Understand when it is appropriate to re-address, re-assign, and re-appraise.
Recognize the basic requirements of FIRREA and the client’s needs when involved in a federally related transaction.
Recognize the important components of properly identifying the subject property through the legal description and other indicators.
Recognize the criteria for highest and best use and how they help support your opinion.
Recognize how surrounding area and neighborhood analysis play an important role in highest and best use.
Recognize special issues related to the sales comparison approach for vacant land.
Consider each of the elements of comparison and choose the best one for the sales comparison approach for vacant land and improved properties.
Recognize whether the thread of logic tracks from the beginning to the end of the appraisal report.
Be able to identify which approaches to value have been used in solving the problem.
AI CE Credit for Designated Members
This program is approved for 1 hour of Appraisal Institute CE credit for every hour taken.
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