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Review Theory - Residential Education Schedule (PDF)

Education Catalog (PDF)
Some AI educational programs may not be approved in every state.
Students should check state approvals prior to registering for any Appraisal Institute program.

ClassroomOn-Demand Online EducationLive Online (Synchronous)

Review Theory—Residential is the fundamental review course that all reviewers of residential appraisals and reviews should have in their educational background. It is a required course for individuals pursuing the Appraisal Institute Residential Review Designation (AI-RRS, Appraisal Institute Residential Review Specialist).

At the core of this course is the review process. Participants explore the seven steps in the process as they apply to reviews of residential work including, but not limited to, those subject to GSE requirements. To be a reviewer, an appraiser must learn how to develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness relative to the work under review. These opinions must be refined through tests of reasonableness to develop reconciled opinions of appropriateness and credibility.

The material addresses how requirements of the review process compare with those of the Fannie Mae Form 2000/Freddie Mac Form 1032, One-Unit Residential Review Form as well as other GSE documents such as the Fannie Mae Selling Guide. Other topics include complex or challenging residential review assignments such as those involving limited data, nonconforming properties, less common ownership types, or unusual properties such as geodesic domes and hobby farms. By taking this course, participants will gain invaluable confidence in the fundamentals of review.

Please note Designated Members, Candidates for Designation and Practicing Affiliates will receive the discounted AI Price for Advanced Education courses: Review Theory-Residential and Review Case Studies-Residential. All others will receive the Full Price.

Upon completion of the course, participants should be able to:
• Define review
• Distinguish between appraisal and review
• Evaluate the necessary knowledge and skills required to complete reviews
• Distinguish between trivial and material errors
• Identify types of review assignments and the process employed in the reviewer’s scope of work
• Recognize regulatory compliance issues for review appraisers
• Identify the steps necessary to effectively communicate the review

The Review Theory—Residential course is required for individuals pursing the Appraisal Institute Residential Review Designation (AI-RRS Appraisal Institute Residential Review Specialist). For more information regarding the requirements for the review designation, please  click here

If you are currently designated, click here for more information on the alternative path.

If you are currently a candidate for designation, or wish to become a candidate, click here for the specific designation requirements.

Recommended Text
Review Theory and Procedures: A Systematic Approach to Review in Real Property Valuation
Uniform Standards of Professional Appraisal Practice, current ed.

Program Overview
• Table of Contents and Overview (PDF)
• Schedule (PDF)

Recommended Text
• Appraising Residential Properties, 4th ed.
• Appraising the Appraisal: The Art of Appraisal Review, 2nd ed.
• The Appraisal of Real Estate, 14th ed.
• The Dictionary of Real Estate Appraisal, 6th ed.

Ordering Information
To order books and other materials go to
our store

Tuition
Please contact the sponsoring chapter for information on fees applicable to chapter programs.

Required
• A basic-function calculator is required. Note: Cellular phones, tablets, iPads, and other devices that connect to the Internet or can store data are NOT permitted during the exam.

AI CE Credit for Designated Members and Practicing Affiliates
• Residential Attend Only = 175 points
• Residential Attend and Pass = 225 points
• Residential Pass Only = 100 points
• General Attend Only = 150 points
• General Attend and Pass = 200 points
• General Pass Only = 100 points

Prerequisites
None. However, note that this course was written for appraisers at the Residential Certified level.

Recommended
Residential Market Analysis and Highest & Best Use

Participants must sign a waiver at the beginning of the course stating that they have the prerequisites. If they do not, they will not hold the Appraisal Institute responsible and will not expect to receive special attention during the course.

Who Should Enroll
• Residential Certified Appraisers
• Attorneys
• Accountants
• Government agency members
• Users of appraisal services

Click Here for State Approvals


  
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