Review Case Studies-Residential is unlike anything you’ve experienced in other classes. You will apply the review process by walking through a case study that focuses on a two-stage review assignment. The first day you’ll be put into groups and as a group analyze the property that is the subject of the appraisal report under review. Each group will develop its own opinion of value remembering that the analyses behind the conclusion must be fully supported by including every adjustment and opinion. These tasks will happen BEFORE you see the appraisal report to be reviewed.
While the review groups are puzzling through the case study, there are also a variety of practical applications presented through Review Reality Check problems. These problems, along with quizzes are presented throughout the course.
On the second day, you’ll continue working in your group by beginning your analysis of the appraisal report and develop opinions of completeness, accuracy, adequacy, relevance and reasonableness (including tests of reasonableness). From there, you will develop opinions of appropriateness and creditability specific to the appraiser’s development and you will develop opinions on whether the appraiser’s report is appropriate and not misleading, including reasons for disagreement. Day two ends by examining how reviewers can best communicate their results to their client and also to the appraiser whose work was reviewed—if that is part of the reviewer’s scope of work.
If you’re an appraiser, reviewer, or other real estate professional who regularly works with reviews, this hands-on, application-based course is for you!
Upon completion of this course, participants should be able to:
• Apply the steps of the review process to a two-stage residential appraisal report review assignment
• Evaluate and analyze key sections of the Uniform Residential Appraisal Report (URAR) through an in-depth case study and work-life review applications
• Effectively develop and communicate opinions of completeness, accuracy, adequacy, relevance, reasonableness, appropriateness, credibility, and reasons for disagreement
• Evaluate appraisal errors to distinguish whether they are trivial or material from a review perspective
Review Case Studies - Residential builds on the concepts presented in Review Theory - Residential, a required course in the Appraisal Institute's Residential Review Designation program (AI-RRS - Appraisal Institute Residential Review Specialist). For more information regarding the requirements for the review designation, please click here.
Please note Designated Members and Candidates for Designation will receive the discounted AI Price for Advanced Education courses: Review Theory-Residential and Review Case Studies-Residential. All others will pay the Full Price.