- Date
- February 25, 2025
- Time
- 9:00 AM - 5:00 PM (CST)
- Sponsor
- Appraisal Institute
- Location
- Virtual Classroom - National
- Instructor
- Kerry M. Jorgensen, MAI
- Class Time
- 7 hours
- Full Price
- $170.00
- AI Price
- $140.00
Enroll by February 25!
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Course Description
NEW SEMINAR!
Fair Value, Market Value, Fair Market Value was developed because words can have more than one meaning. Even the
simple term market value can have a different
meaning to a real estate appraiser than it does to a business appraiser, an
accountant, or an attorney. Among real estate appraisers, there can be
differences of opinion as to the proper basis of a valuation for a property tax
assessment, a condemnation action, or a financial report. The laws are not
generally written by appraisers, and the various codes and case law can be
inconsistent and hard to interpret. The USPAP standards require that an
appraiser not only state the type and definition of value, but also “include
any comments needed to clearly indicate to the intended users how the
definition is being applied.”
The seminar relies heavily on examples and case studies to help you understand the diverse ways terms are used and think through how to address the differences when you confront them in an assignment.
This seminar is intended to help you understand different interpretations of key valuation concepts, so that you can effectively report how they have been applied in a particular assignment.
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Who Should Enroll
AI CE Points
Attend:
35
State Approvals
| State | QE/CE | Course & Exam | Course Only | Exam Only | Delivery Format | Approval Format | Start Date | Expire Date | State Code |
|---|---|---|---|---|---|---|---|---|---|
| AZ | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| AZ | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 | ||
| CA | CE | 7 | 7 | Synchronous | Synchronous | 08/08/2024 | 06/01/2027 | 24CP754601586 | |
| DE | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| DE | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 | ||
| IL | CE | 7 | 7 | Synchronous | Livestream | 01/28/2025 | 12/31/2026 | 575.010782 | |
| IN | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| IN | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 | ||
| KS | CE | 7 | 7 | Synchronous | Synchronous | 01/21/2025 | 12/31/2025 | 608.C25.N | |
| KY | CE | 7 | 7 | Synchronous | Livestream | 08/26/2024 | 06/30/2025 | ||
| MD | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| MD | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 | ||
| ME | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| ME | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 | ||
| MT | CE | 7 | 7 | Synchronous | Livestream | 08/20/2024 | 06/01/2027 | REA-CEC-REC-18211 | |
| NC | CE | 7 | 7 | Synchronous | Synchronous | 01/02/2025 | 12/31/2025 | 4691 | |
| OK | CE | 7 | 7 | Synchronous | Synchronous | 01/07/2025 | 06/01/2027 | 816 | |
| PA | CE | 7 | 7 | Synchronous | Livestream | 07/31/2024 | 06/01/2027 | ||
| PR | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| PR | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 | ||
| TN | CE | 7 | 7 | Synchronous | Livestream | 11/07/2024 | 11/30/2026 | 2850 | |
| TX | CE | 7 | 7 | Synchronous | Livestream | 11/14/2024 | 06/30/2026 | 50790 | |
| VA | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| VA | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 | ||
| WI | CE | 7 | 7 | Synchronous | Livestream | 06/01/2024 | 06/01/2027 | 90519 | |
| WI | CE | 7 | Synchronous | Synchronous | 06/01/2024 | 06/01/2027 | 90519 |
Course Objectives
After completing this seminar, participants will be better able to
- Recognize situations where appraisers may disagree regarding the proper interpretation of value definitions.
- Recognize the proper application of two business valuation premises: the going-concern premise and the liquidation premise.
- Identify circumstances in which the value of real property is different in the going-concern premise than in the liquidation premise.
- Paraphrase the definition of contributory value and distinguish contributory value from market value on a standalone basis.
- State how the definition of value in use has changed and recognize how contributory value is used in its place.
- Compare and contrast two definitions of fee simple and recognize how the definitions could impact a value opinion for a property subject to a lease(s).
- Compare and contrast two market rent concepts.
- Compare and contrast fair value and market value.
- Report how analysis of highest and best use for a fair value determination may differ from analysis of highest and best use for a market value opinion in some assignments.
- Recognize situations where courts may interpret fair market value to be more akin to fair value than to market value and explain how differences in interpretation of definitions can result in disputes.
- In situations where definitions are insufficient to convey assignment results, provide reports that include any comments needed to clearly indicate to the intended users how the definitions are being applied.
Additional Course Offerings
| Sponsor | Date | Location | Format | ||
|---|---|---|---|---|---|
| South Texas Chapter | March 19, 2025 | San Antonio, TX | Classroom | View Details | Register |
Event Information
Location:
This course will be held via live interactive classroom technology. See below for important participation requirements.
State Credit:
Class Schedule:
9:00 am - 5:00 pm CT
AI National Synchronous Participation Requirements:
• Please review these short instructional videos on what to expect in an Appraisal Institute synchronous class. They can also be found on AI’s website any time at https://www.appraisalinstitute.org/education/education-resources/synchronous-course-resources.
• You must have a computer, webcam, and microphone capability to participate and receive continuing or qualifying education credit where approved. It is your responsibility to have the required equipment to participate and receive credit. Visit the System Requirements for Attendees and Share Webcam pages for help.
Download Course Materials:
Log onto your AI Account at www.appraisalinstitute.org with the username and password you used when you registered. Click on “Education and Events” located on the right navigation menu. On the My Events page, find the course under the “Classroom Offerings/Synchronous Offerings/Conferences” heading and click the "View" button. Scroll down to the “Download Course Materials” section and click on each link to download the course materials.
This course will be held via live interactive classroom technology. See below for important participation requirements.
State Credit:
A course may NOT be approved in every state for every delivery format. For example, some states do NOT allow any virtual education. When registering for any Appraisal Institute course, all participants will be required to check state approvals based on delivery format. For more information, see our state approvals page.
Class begins at 9:00 AM Central time (7:00 AM Pacific, 8:00 AM Mountain, 10:00 AM Eastern). Class runs for eight hours (8) with four 10-minute breaks and one 60-minute non-credit hour lunch break. The course runs for one (1) day.
Time shown is U.S. Central (Chicago) time.
Tuesday, February 25, 20259:00 am - 5:00 pm CT
AI National Synchronous Participation Requirements:
• Please review these short instructional videos on what to expect in an Appraisal Institute synchronous class. They can also be found on AI’s website any time at https://www.appraisalinstitute.org/education/education-resources/synchronous-course-resources.
• You must have a computer, webcam, and microphone capability to participate and receive continuing or qualifying education credit where approved. It is your responsibility to have the required equipment to participate and receive credit. Visit the System Requirements for Attendees and Share Webcam pages for help.
• The instructor must be able to interact with all students. Instructors and administrators will direct questions to each student in the morning and afternoon to which students must respond. Students must be in a location that allows for their full attention and interaction at all times.
• Attendance will be monitored throughout the day through webcams and polling. You must turn on your webcam during roll call at the beginning of class so that the instructor can verify your photo identification. Students with licenses in Connecticut, Maryland, North Carolina, New York or South Dakota must keep their webcams on at all times.
If you have any questions regarding these classroom participation requirements, please contact the Appraisal Institute at customerservice@appraisalinstitute.org or call (888) 756-4624.
Connection Information:
Several minutes after you receive your Appraisal Institute receipt email, you will receive a second email from GoToTraining which will include instructions on connecting to the live session and a link to a small download of the GoToTraining software. The software runs on almost all operating systems and popular browsers. Connection email reminders are re-sent 1 week, 1 day, and 1 hour prior to the live session start time. If you do not receive the connection information, please check your junk, spam, or quarantine folders. For questions, please email customerservice@appraisalinstitute.org or call (888) 756-4624.
Log onto your AI Account at www.appraisalinstitute.org with the username and password you used when you registered. Click on “Education and Events” located on the right navigation menu. On the My Events page, find the course under the “Classroom Offerings/Synchronous Offerings/Conferences” heading and click the "View" button. Scroll down to the “Download Course Materials” section and click on each link to download the course materials.