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Overview:
This new course meets current and future AQB criteria for the Licensed Residential Appraiser and Certified Residential Appraiser levels. Through two in-depth case studies, this introductory course provides you with the techniques necessary for completing the sales comparison and income capitalization approaches of the valuation process. You will develop and apply qualitative and quantitative analysis techniques as well as organize and reconcile data.
Note: QE 2008 Course
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. There is a 2-hour exam for the course.
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
You will have 90 days from the time that you complete the course to take the proctored exam. Testing center locations in your area can be found by clicking on this link: www.pearsonvue.com/ai.
Syllabus:
Module 1: Review of the Valuation Process
Module 2: Principles That Affect the Sales and Income Approaches
Module 3: Comparability Tools
Module 4: Elements of Comparison
Module 5: The Adjustment Procedure
Module 6: Supporting Quantitative Adjustments
Module 7: Case Study 1
Module 8: Qualitative Analysis
Module 9: Financial Analysis
Module 10: Other Market Evidence Analysis Techniques
Module 11: Income Capitalization Approach
Module 12: Case Study 2
Module 13: Reconciliation
Module 14: Selection of Comparables
Module 15: Partial Interests
Module 16: Data Collection and Verification
Course & Exam Review
Learning Objectives:
- Recognize the relationship between the sales comparison and income capitalization approaches and the rest of the Valuation Process.
- Extract and support adjustments using paired data set analysis.
- Extract and support adjustments using income analysis.
- Extract and support adjustments using cost and depreciation analysis.
- Apply the adjustment techniques most appropriate for given data.
- Calculate appreciation rates for the subject property and comparable sales.
- Use the estimated gross monthly market rent and the reconciled GRM to derive a value indication from the income capitalization approach.
- Apply the reconciled GRM to the gross monthly rent estimate to derive a value indication for the subject property by the income capitalization approach.
- Derive an indication of value by the sales comparison approach.
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Appraisal Institute Credit Hours
Attendance Hours: 28.0
Exam Hours: 2.0
Category
Residential [Res]
Prerequisites
Successful completion of Basic Appraisal Principles and Basic Appraisal Procedures is required. Completion of Residential Market Analysis and Highest and Best Use is recommended.
Students requesting a waiver of the prerequisite(s) based on educational background must sign and submit a waiver and fax the form to John Witham at 312-335-4203. If they do not, they will not hold the Appraisal Institute responsible and will not expect to receive special attention during the course.
Audience
Beginning appraisers seeking residential licensing and/or certification and residential appraisers who would like to review the skills needed to complete the sales comparison and income capitalization approaches of the valuation process.
Required Technology
An HP12C financial calculator is strongly recommended for this class. All exercises covering financial calculations will be explained in terms of using the HP12C.
Additionally, Microsoft Excel or other spreadsheet program is needed to complete the two case studies in the course.
Recommended Text
The Appraisal of Real Estate, 12th ed. 
Appraising Residential Properties, 4th ed.
The Dictionary of Real Estate Appraisal, 4th ed.
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Tuition
Member: $ 364.00
Regular: $ 444.00
Click Here for State Approvals
Instructor
Mark R. Rattermann, MAI, SRA
Contact Name
John Witham
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Disclaimer
I agree to the terms and policies set forth under the Appraisal Institute Online Education Policy. I also certify that I am the person identified above under Personal Data and that I will personally complete each assigned module of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a member of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, that I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Appraisal Institute's Code of Professional Ethics and Standard of Professional Appraisal Practice, and that such peer review proceeding may result in termination of my Appraisal Institute membership.
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Additional Information
For online education, you will receive an email from the instructor on the morning of the session start date that will remind you of your login information and the website address to begin your program.
To start immediately if you registered for an online education session in progress (on or after the session start date), go to www.appraisalinstitute.org and log in with the username and password you used when you registered. You will automatically be taken to the "My Appraisal Institute" page. Near the middle of that page your course will be listed with a link next to it that says "Go To Class".
If you have any questions, please email us at tbe@appraisalinstitute.org.
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Online Class Schedule |
Can I enroll in a session that is already in progress?
11/01/2009 - 12/16/2009
11/15/2009 - 12/30/2009
12/01/2009 - 01/15/2010
12/15/2009 - 01/29/2010
01/01/2010 - 02/15/2010
01/15/2010 - 03/01/2010
02/01/2010 - 03/18/2010
02/15/2010 - 04/01/2010
03/01/2010 - 04/15/2010
03/15/2010 - 04/29/2010
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