Basic Appraisal Procedures is in an introductory course for those
studying for a career in valuation services. The course is the second in
the curriculum sequence of qualifying prelicense education required by
states of individuals pursuing appraisal licensure and certification.
will learn the basic appraisal procedures with concentration on the
appraisal process and an emphasis on rural properties and techniques.
Topic themes run throughout the course to focus student learning on
defining the appraisal problem, collecting and selecting data, analyzing
the data using the three valuation approaches, reconciling the
approaches and communicating with the client and intended user of the
appraisal service. The integrated case study will guide the students
through the appraisal process. Beginning with neighborhood analysis and
concluding with the final value opinion, the students will appraise a
rural residential property with multiple land uses.
The content is
divided into five units: The Valuation Process, Area and Neighborhood
Analysis, Highest and Best Use, The Approaches, and Reconciliation.
Within each unit there is a set(s) of student learning goals,
definitions and concepts, and examples. Each unit is completed with a
set of classroom exercises and finally a review and quiz. The student
will be well prepared for the exam if they follow the recommended
timeline for completing the case study as each unit is presented.
Required Equipment & Textbooks:
HP-12c calculator. You must be familiar with calculator operation when
the course begins. Answers to problems in course material are shown
using the HP-12c. Do not come to class expecting to be taught how to use
a financial calculator.
The Appraisal of Real Estate, Thirteenth Edition; Appraising
Residential Properties, Third Edition; The Dictionary of Real Estate
Appraisal, Fifth Edition.
Contact Hours: 28 hours + 2 hour exam
Course Timetable: Days 1-4: 8 AM - 5 PM
AQB Licensure Requirement: Trainee, Licensed, Certified Residential, Certified General
Accreditation: This course is required for the ARA and the RPRA
List of Approvals