- Date
- July 16, 2026
- Time
- 9:30AM - 5:00PM (EST)
- Sponsor
- Atlanta Area Chapter
- Location
- Zoom Livestream
Zoom Videoconference
- Instructor
- Gary DeWeese, MAI
- Full Price
- $175.00
- AI Price
- $150.00
Course Description
Are you really prepared to value commercial real estate in this rapidly changing market? The historic increase in Treasury yields is putting extreme pressure on cap rates and increasing investor yield requirements. Rates are likely to hold at current levels for longer than anticipated just a few months ago. CRE values will likely decrease over the next 12 months as cap rates respond and financing capital is hamstrung by debt service constraints. Rising vacancy rates and operating expenses are also negatively affecting net operating income, further hampering CRE values. Add to these dynamics the possibility that your subject property may be performing worse than the general market.
This seminar will address critical issues, often misunderstood even by experienced commercial appraisers, in valuing under-performing property in a declining market.
The seminar will be based on a hypothetical case study property, a multi-tenant office building. The primary focus of the case study is to value the property “as is” and “when stabilized”, using all three valuation approaches, based on the following circumstances:
- The property is 50% vacant in a market experiencing 20% vacancy, thus necessitating the proper measurement of a RENT-UP ADJUSTMENT to be incorporated in all three approaches to value the property “as is”.
- The market is forecast to experience on-going, but temporary, EXTERNAL OBSOLESCENCE based on a detailed fundamental market analysis, which will be demonstrated using current methodologies and also incorporated in valuations.
In addition, the case study property also incorporates two other issues that will need to be addressed in the valuations.
- One lease at the property was first negotiated when the market was much stronger. The rent for this lease was recently reduced and the term extended, in a so-called “blend and extend” renegotiation, but is still above market, therefore necessitating a “property rights adjustment”.
- Another lease includes an apparent higher than market rent due to substantial landlord provided concessions, therefore necessitating a measure of “effective rent” for purposes of forecasting the rent at the time of lease renewal.
All of these issues will be discussed and then analyzed entirely in Excel, although attendees do not need to be an Excel expert to benefit from the seminar.
Who Should Enroll
State Approvals
| State | QE/CE | Course & Exam | Course Only | Exam Only | Delivery Format | Start Date | Expire Date | State Code |
|---|---|---|---|---|---|---|---|---|
| GA | CE | 7 | Synchronous | 02/12/2026 | 12/31/2026 | 39 (Atlanta Area Chapter) |
Course Objectives
At the conclusion of this 7-hour seminar, participants will be able to:
- Analyze current macroeconomic and capital market conditions
- Differentiate between “as-is” and “stabilized” value conclusions
- Measure and apply a rent-up adjustment
- Identify, quantify, and support temporary external obsolescence
- Recognize and apply property rights adjustments
- Calculate effective rent
- Develop defensible valuation conclusions using Excel-based analysis
Pricing Options
| Rate | Full Price | AI Price |
|---|---|---|
| Early-Bird
Today thru 07/09/2026 |
$175.00 | $150.00 |
| Standard
07/10/2026 thru 07/16/2026 |
$200.00 | $175.00 |
Event Information
CLASS SCHEDULE
July 16, 2026, 9:30 a.m. - 5:00 p.m. (Eastern Time)
*One Hour Break for Lunch
LOCATION
Zoom Videoconference
CONTINUING EDUCATION
This livestream synchronous seminar is approved for 35 AI CE Points. The GA Real Estate Appraisers Board has approved 7 hours continuing education credit. 100% attendance is required for credit and will be monitored and verified throughout the day.
REQUIRED EQUIPMENT & TECHNOLOGY
- basic free Zoom Application software (https://zoom.us/pricing)
- reliable internet connection
- computer, iPad, or tablet
- web camera (built into laptop computer or external attachment)
- audio with speaker and microphone capability (built into your computer, headphone, or earbuds)
NEW TO ZOOM?
If you are new to ZOOM or need a little refresher, please take their FREE tutorial Getting Started Guide.
https://support.zoom.com/hc/en/article?id=zm_kb&sysparm_article=KB0061316&utm_source=chatgpt.com
PARTICIPATION REQUIREMENTS
- To participate and receive continuing education credit, students must meet the following requirements:
- Technology: A reliable internet connection, a computer or tablet with a functioning webcam, speakers, and microphone.
- Webcam: Must be on and VISIBLE at all times. Adjust privacy settings to allow Zoom access. Lenovo laptop users may need the Lenovo Vantage App for webcam functionality.
- Zoom: No paid Zoom account is needed, but students must sign up for a free basic account at Zoom.us and install the Zoom app before the seminar.
- Interactive Platform & Experience: The seminar is live and interactive; the instructor and students must be able to see and interact with one another.
- Environment: Students must participate from a distraction-free location to ensure full attention and engagement.
- Identity Verification: Email a copy of your driver's license or other photo ID (with private information concealed except for your full name and photo) to the Chapter office after registration and before the seminar begins.
Registrants will receive a separate email from Suzanne Brockway, approximately 24 hours before class, with Zoom login information. Contact the chapter office if you have any questions regarding the participation guidelines, at Suzanne.Brockway@appraisalinstitute.org.
ATTENDANCE POLICY
To receive AI and State credit:
- 100% attendance is required for all Appraisal Institute education programs.
- attendance will be monitored throughout the day, via webcam and zoom chat roll call
- students are required to be visible on the virtual platform during the entirety of class time
- students are required to be in front of the camera with the camera in the on position (100% of the time)
- instructor may direct questions to each student throughout the class day
- Important: Please have your photo ID ready at the start of class. To expedite check-in, we will view all attendees’ IDs at the same time and take a screenshot. We recommend covering private information on your ID except your full name and photo.