This course is designed to meet the criteria for a 30-hour course as part of the required course curriculum under the Appraiser Qualification Board requirements for general appraiser certification. It provides an in-depth look at developing the sales comparison approach for non-residential properties. This is an advanced course and builds on the principles and practices learned in earlier courses.
The sales comparison approach is examined in detail and illustrated through the use of examples and case studies. Research methods, appropriate selection of comparable sales, and the importance of verification are stressed. Qualitative and quantitative analysis are covered. Units of comparison are emphasized. Significant attention is paid to analysis of comparable properties and extraction of adjustments, including adjustments for property rights, market conditions, conditions of sale and sale and financing concessions. Different methodologies for extracting adjustments are explained, and examples are provided. The course addresses statistical applications that apply to the sales comparison approach, as well as reconciliation of indicators within the approach. Issues related to the reporting of the results of the sales comparison approach are also covered. Finally, several case studies require students to apply the concepts and techniques that were covered in the course.
In addition to the end-of-chapter quizzes and final exam, this course contains mini-quizzes that will test the knowledge of the material throughout each chapter. The mini-quizzes will help prepare you for not only the end-of-chapter quiz, but also for the cumulative online review quiz at the end of the course.
In addition, there is a required three-hour proctored examination at the end that must be taken in a monitored classroom setting.