This 15-hour course provides a fresh look at the relationship between market analysis and highest and best use. Discover where to find the information you need to make a highest and best use decision and how to interpret the information you find. Learn how to read and map a market area for a subject property and discover the essential links between market analysis, highest and best use analysis, and the three approaches to value (cost, sales comparison, and income capitalization). Gain practical experience by solving highest and best use problems similar to problems you might encounter in the real world. Theory is translated into practice through extensive and varied activities encouraging you to become actively involved in applying concepts to real-world situations. Successful completion of the course and exam should satisfy most states' education requirements in the content area identified as residential market analysis and highest and best use.
Note: QE 2008 Course
Do I have to take the 1-hour course exam?
You are required to complete and pass a proctored offline exam if:
• you are taking this class to meet state qualifying education requirements
• you are taking this class to meet the qualifying education requirements for an Appraisal Institute designation
You may be required to complete and pass a proctored offline exam if:
• you are taking this class to meet state continuing education requirements. Most states do not require the exam for CE credit, but please confirm this with your state licensing board.
You are not required to complete and pass a proctored offline exam if:
• if you are taking this class to meet the continuing education requirements of an Appraisal Institute designation
You will have 90 days from the time that you complete the course to take the proctored exam. Testing center locations in your area can be found by clicking on this link: www.pearsonvue.com/ai.
Module 1: What Highest and Best Use Is
Module 2: How to Test for Highest and Best Use
Module 3: How to Report Highest and Best Use Analysis
Module 4: Definitions and Overview of Relationships
Module 5: Step 1 -- Property Productivity Analysis
Module 6: Step 2 -- Market Delineation
Module 7: Steps 3 and 4 -- Supply and Demand Analysis
Module 8: Math for Market Analysis
Module 9: Market Analysis in Action
Module 10: Practical Applications in Highest and Best Use Analysis
• Identify how highest and best use and market analysis fit into the valuation process
• Identify ways that market analysis is applied in the valuation process
• Recognize major value-influencing forces in residential properties
• Identify variables that affect the supply of residential properties
• Apply market analysis information in a highest and best use analysis
• Apply market analysis information in the cost, sales comparison, and income capitalization approaches to value
• Apply market analysis information in the reconciliation to a final value opinion
• Demonstrate how highest and best use analysis incorporates data from the cost, sales comparison, and income capitalization approaches to value
AI CE Credit for Designated members and Practicing Affiliates
• Attend Only = 70 points
• Attend and Pass Exam = 140 points
• Pass Exam Only = 125 points
Successful completion of Basic Appraisal Principles and Basic Appraisal Procedures is required.
A financial calculator is required. The accepted model used in the course is the HP-12C. Candidates taking most AI exams may bring their own calculator to use during the exam. Candidates should be fully aware that AI courses are developed with HP12C keystrokes, and that using an HP12C is highly recommended.
IMPORTANT! You will be asked to clear the calculator's memory before and after the examination. Only one calculator is permitted in the testing room.
Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.
HP-12C calculator user's manual
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.
Free Review:Using a Financial Calculator; Formulas, Symbols, Math Review, and Sample Problems and Financial Calculator Practice Exercises
For additional help with the HP-12C calculator, take our online seminar, Using Your HP-12C Financial Calculator
• The Appraisal of Real Estate, 14th ed.
• The Dictionary of Real Estate Appraisal, 5th ed.
Click Here for State Approvals
Thomas R. Kirby, MAI, SRA
I agree to the terms and policies set forth under the Appraisal Institute Online Education Policy. I also certify that I am the person identified above under Personal Data and that I will personally complete each assigned module of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a member of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, that I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Appraisal Institute''s Code of Professional Ethics and Standard of Professional Appraisal Practice, and that such peer review proceeding may result in termination of my Appraisal Institute membership.
Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. You will automatically be taken to the "My Appraisal Institute" page. Near the middle of that page your course will be listed with a link next to it that says "Go To Class".