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    Advanced Market Analysis and Highest & Best Use

    Register
    April 29 - May 3, 2024 New York, NY
    Date
    April 29 - May 3, 2024
    Location
    New York, NY
    Sponsor
    Metropolitan New York Chapter
    Instructor
    Michael P. Hedden, MAI
    Class Time
    30 hours
    Exam Time
    3 Hours
    Full Price
    $1,300.00
    AI Price
    $1,000.00
    Enroll by April 29!
    View Pricing Options
    Course Description
    Combining the analytical processes of market analysis, highest and best use, and income valuation, this course is intended for those who have taken and passed the General Appraiser Market Analysis and Highest & Best Use course and have a thorough understanding of the mathematical and financial principles necessary to perform appraisals of income-producing properties. Building on the Level B marketability analyses that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability analysis using fundamental analysis and study several real estate markets in a fictional city. You’ll explore the economic base of the fictional city, which serves as the subject and example of both physical and economic forces that affect all communities and consequently all real estate. You’ll also work through four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that demonstrate both the power of fundamental market analysis and its application to highest and best use decisions.

     

    Note. This course is in the Real Estate Analyst Professional Development Program. View this list of FAQs, which includes information regarding the courses you’ll need to complete the program successfully.  
    Who Should Enroll
    • Candidates for Designation who are working toward an MAI designation
    • MAIs who want to enhance their knowledge and skill base in market analysis/highest and best use
    AI CE Points
    Attend:
    275
    Attend & Pass Exam:
    375
    Pass Only:
    325
    State Approvals
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    AK CE 32 32 Classroom Classroom 08/15/2023 01/24/2025 18511
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    AZ CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
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    CA CE 30 30 Classroom Classroom 03/17/2022 03/16/2026 10754180
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    CO CE 30 30 Classroom Classroom 08/15/2023 01/24/2025 2430
    CO CE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 2430
    CO QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 2430
    CT CE 18 18 Classroom Classroom 08/18/2023 01/24/2025 AAL.001081
    CT QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 APR.000306
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    DC QE 33 30 3 Classroom Classroom 02/29/2024 02/28/2026 3990
    DE CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    DE CE 30 30 Classroom Classroom 01/01/2022 01/24/2025 79269
    DE QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    FL CE 20 20 Classroom Classroom 11/26/2023 11/25/2025 0009138
    FL QE 33 30 3 Classroom Classroom 11/26/2023 11/25/2025 0009138
    GA CE 30 30 Classroom Classroom 05/07/2010 60127
    GA QE 33 30 3 Classroom Classroom 05/07/2010 60126
    HI CE 35 32 3 Classroom Classroom 01/01/2024 12/31/2024 23-400
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    ID CE 30 30 Classroom Classroom 08/15/2023 01/24/2025
    ID QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025
    IL CE 30 30 Classroom Classroom 01/01/2023 12/31/2024 575.001526
    IL QE 33 30 3 Classroom Classroom 01/01/2023 12/31/2024 573.000580
    IN CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    IN CE 30 30 Classroom Classroom 01/01/2022 01/24/2025 79269
    IN QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    KS CE 30 30 Classroom Classroom 01/01/2024 12/31/2024 159.C24.R
    KS QE 33 30 3 Classroom Classroom 01/01/2024 12/31/2024 295.P24.R
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    KY QE 33 30 3 Classroom Classroom 07/01/2023 06/30/2024
    LA CE 32 32 Classroom Classroom 09/09/2019
    LA QE 35 32 3 Classroom Classroom 09/09/2019
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    MD CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    MD CE 30 30 Classroom Classroom 01/01/2022 01/24/2025 79269
    MD QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    ME CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    ME CE 30 30 Classroom Classroom 01/01/2022 01/24/2025 79269
    ME QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    MI CE 32 32 Classroom Classroom 08/15/2020 09/14/2025 1521
    MI QE 35 32 3 Classroom Classroom 08/15/2020 09/14/2025 1521
    MN CE 33 30 3 Classroom Classroom 05/01/2022 04/30/2024 1011424
    MN QE 33 30 3 Classroom Classroom 04/30/2022 04/30/2024
    MO CE 30 30 Classroom Classroom 08/15/2023 01/24/2025
    MO QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025
    MS CE 30 30 Classroom Classroom 07/28/2019 01/24/2025 MAB #49731
    MS QE 33 30 3 Classroom Classroom 07/28/2019 01/24/2025 MAB #49731
    MT CE 30 30 Classroom Classroom 08/15/2023 01/24/2025 REA-CEC-REC-16798
    MT QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 REA-CEC-REC-16798
    NC QE 30 30 Classroom Classroom 01/01/2024 12/31/2024
    ND CE 33 30 3 Classroom Classroom 08/21/2023 01/24/2025 CE-223071
    ND QE 35 32 3 Classroom Classroom 08/15/2014
    NE QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    NH CE 32 32 Classroom Classroom 08/15/2023 01/24/2025
    NH QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025
    NJ CE 30 30 Classroom Classroom 01/22/2013 01/24/2025 2013-3091
    NJ QE 33 30 3 Classroom Classroom 01/22/2013 01/24/2025 2013-3091
    NM CE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 4294
    NM CE 30 30 Classroom Classroom 08/15/2023 01/24/2025 4294
    NM QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 4294
    NV CE 32 32 Classroom Classroom 06/01/2021 06/30/2024 CE.0009728-A
    NV QE 33 30 3 Classroom Classroom 08/01/2023 07/31/2024 PL.0009466-A
    NY CE 30 30 Classroom Classroom 01/01/2024 12/31/2024 A4129-28
    NY QE 33 30 3 Classroom Classroom 09/30/2023 09/30/2024
    OH CE 33 30 3 Classroom Classroom 01/01/2024 12/31/2024 084401804A 22
    OH QE 33 30 3 Classroom Classroom 01/01/2012
    OH QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    OK CE 32 32 Classroom Classroom 01/26/2022 01/24/2025 875
    OK QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 675
    OR CE 30 30 Classroom Classroom 01/21/2022 01/24/2025 APIN-Q-0122-8911
    OR QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025 COUAPIN-Q-0122-8911
    OR QE 33 30 3 Classroom Classroom 01/21/2022 01/24/2025 APIN-Q-0122-8911
    PA CE 30 30 Classroom Classroom 08/15/2023 01/24/2025
    PA QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025
    PR CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    PR CE 30 30 Classroom Classroom 01/01/2022 01/24/2025 79269
    PR QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    RI CE 32 32 Classroom Classroom 08/15/2023 01/24/2025 REA.0001526-CE
    RI QE 35 32 3 Classroom Classroom 08/15/2023 01/24/2025 REA.0001526-CE
    SC CE 33 30 3 Classroom Classroom 09/01/2022 08/31/2024 CE1135
    SC QE 33 30 3 Classroom Classroom 04/05/2023 08/31/2024 AC . 1135
    SD CE 35 32 3 Classroom Classroom 03/22/2022 03/04/2025 SD 570
    SD QE 35 32 3 Classroom Classroom 03/04/2022 03/04/2025 SD 570
    TN CE 35 32 3 Classroom Classroom 07/01/2022 06/30/2024 1404
    TN QE 33 30 3 Classroom Classroom 07/01/2020 06/30/2025 1404
    TX CE 33 30 3 Classroom Classroom 08/17/2023 01/31/2025 TX Provider #10 Course #:35888
    TX QE 33 30 3 Classroom Classroom 08/15/2023 01/31/2025 TX Provider #8038 Course #: 37063
    UT CE 32 32 Classroom Classroom 05/04/2022 05/31/2024 AC220504
    UT QE 33 30 3 Classroom Classroom 06/01/2020 06/30/2025 AQ230630
    VA CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    VA CE 30 30 Classroom Classroom 01/01/2022 01/24/2025 79269
    VA QE 33 30 3 Classroom Classroom 04/01/2022 07/31/2025 4006000897
    VT CE 32 32 Classroom Classroom 01/21/2021 01/21/2025
    VT QE 35 32 3 Classroom Classroom 01/21/2021 01/21/2025
    WI CE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    WI CE 30 30 Classroom Classroom 01/01/2022 01/24/2025 79269
    WI QE 33 30 3 Classroom Classroom 01/01/2022 01/24/2025 79269
    WV CE 30 30 Classroom Classroom 08/15/2023 01/24/2025
    WV QE 33 30 3 Classroom Classroom 08/15/2023 01/24/2025
    WY CE 35 32 3 Classroom Classroom 08/15/2023 08/14/2026 198
    WY QE 35 32 3 Classroom Classroom 08/15/2023 08/14/2026 198
    Course Objectives
    • Recognize the definitions of market analysis, market, market study, and marketability analysis.
    • Recognize how market analysis applies to the determination of highest and best use.
    • Identify ways of determining financial feasibility.
    • Recognize applications of market analysis to the valuation process.
    • Identify ways that social, physical, economic, and institutional support systems in urban areas ultimately determine land use.
    • Identify the six basic steps used to conduct a marketability analysis.
    • Complete rating grids about a subject property’s characteristics to draw conclusions about its competitive position.
    • Recognize procedures for delineating a subject property’s market area.
    • Forecast demand for office, apartment, condominium, retail, and industrial space.
    • Conclude supportable demand for various property types.
    • Calculate residual demand for various types of space.
    • Forecast subject capture and draw conclusions about a property’s market rent and occupancy rate over a given time frame.
    Course Details

    Program Overview:
    Table of Contents and Overview
    Course Schedule

    Assignments:
    Yes. A pre-class, 2-hour online session.

    Equipment:

    • A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
    • You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.
    • For more information and a free review, click here.
    • For additional help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
    • HP-12C calculator User's Manual.

    Additional Information:

    Course Materials Include:

    • Course Handbook (597 pp.)
    • Self-Study Booklet (39 pp.)
    • Pre-Class Download (18 pp.)
    • Community Profile (16 pp.)
    • Suggested Solutions (192 pp.)

    Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; and course equivalencies.

    Designated members, Candidates for Designation, and Practicing Affiliates will receive the discounted AI Price for the MAI designation courses: Advanced Income Capitalization, Advanced Market Analysis and Highest & Best Use, Advanced Concepts & Case Studies, and Quantitative Analysis. All others will pay full price. For more information on how to become a Candidate for Designation, click here.

    Important Note: Mandatory Diagnostic Test
    Before enrolling in this or any other MAI designation course, you must take a diagnostic test. The Excel diagnostic tests your mastery of solving appraisal problems using spreadsheets. This diagnostic test was intentionally designed to be challenging and ensure participants have adequate Excel skills before taking MAI designation courses. For more information, check out the Diagnostic FAQ.

    Excel is used extensively in the MAI designation courses; it is highly recommended that you know how to perform the necessary appraisal functions in Excel to succeed in this course.

    The diagnostic test is free and can be taken at any time on your personal computer. To register for the test, please click here.


    This course implements a blended learning approach, which includes:

    • A pre-class, 2-hour online session
    • 30 hours of traditional classroom education
    • A 3-hour exam on the 5th morning
    You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.

    Requirements:

    • Microsoft Excel 2007 or 2010 must be loaded and operational (external mouse recommended). (You may use other spreadsheet programs, but those programs won’t be supported in class; demonstrations will be done in Excel.)
    • Do not enroll expecting to be taught how to use Excel.

    Additional Course Offerings
    Sponsor Date Location Format
    Chicago Chapter March 11-15, 2024 Chicago, IL Classroom View Details Register
    Appraisal Institute April 22 - May 2, 2024 Synchronous View Details Register
    North Texas Chapter May 6-10, 2024 Dallas, TX Classroom View Details Register
    Washington Idaho Montana Chapter June 24-28, 2024 Spokane Valley, WA Classroom View Details Register
    Bluegrass Chapter August 12-16, 2024 Louisville, KY Classroom View Details Register
    Appraisal Institute December 3-13, 2024 Synchronous View Details Register
    Event Information
    This class will be held April 29, 30, May 1, 2 & 3 from 9am - 5pm(EST) each day at JLL, located at 330 Madison Avenue, NY, NY.