400i - Principles of Real Estate Appraisal
- Course Number: 400i
- Course Title: Principles of Real Estate Appraisal (International)
- Course Level: Core
- IRWA Credits: 16 QEU/CEU
- AQB Credits: Not Applicable
- Prerequisites: Not Applicable
This two-day, beginning-level course introduces the valuation process, basic terminology, and three approaches used to develop real estate value opinions. It is intended for the right of way professional without appraisal or right of way experience and right of way practitioners with several years of experience.
At the conclusion of the two days, the participants will be able to:
• Express an understanding of basic real estate terms and principles.
• Demonstrate a basic knowledge of the valuation process and its components.
• Discuss the definitions of and steps in each of the three (cost, sales comparison, and income capitalization) approaches to value.
• Solve problems that show an understanding of the three approaches to value.
• Introduce eminent domain and the valuation of partial acquisitions.
• Introduce easements and the valuation of easements.
Credentialing
• New SR/WA: A core course that is required for the RWP certification.
• Industry: A core course that is required for all 4 pathways for the RWP certification.
• Specialist: A core course that is required for the R/W-AC and R/W-URAC certifications.
Topics
• Types and Uses of Appraisals
• Types of Value and Market Value
• Area and Site Analysis
• Highest and Best Use Analysis
• The Appraisal Process
• Market Analysis
• Economic Principles
• Cost Approach
• Sales Comparison Approach
• Income Capitalization Approach
Course Tuition Includes
• Learning Guide
• Case Study and Exercise Answers
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