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Overview of Real Estate Appraisal Principles
Alan F. Simmons, SRPA
Appraisal Institute - Online Education
to check state approvals
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This seminar is aimed at the non-appraiser; people who have an interest in appraising but are not technically qualified or licensed to act as appraisers. Examples are students, career changers, para-appraisers, researchers, appraisal assistants, introductory level field appraisers, users of appraisals, underwriters, lenders, relocation specialists and real estate brokers and sales persons.
This seminar introduces the basic economic concepts that form the building blocks of current valuation theory. These principles will be related to the actual process of appraising residential and commercial properties.
Note that this seminar is not intended to be a course to become a qualified appraiser. That process begins in the two Appraisal Institute courses Basic Appraisal Principles and Basic Appraisal Procedures. This seminar is an excellent introduction to those courses; the focus, however, is on an understanding of what an appraisal is and how it works, not how to do one.
Module 1: The Appraisal Profession
Module 2: The Nature Of Appraisals
Module 3: The Nature Of Value
Module 4: Markets
Module 5: Data Collection And Neighborhoods
Module 6: Three Approaches to Value
· Examine the basic concepts of land and land value, along with various economic principles and definitions that shape the appraisal.
· Explore important forces that affect value, such as legal and governmental policies.
· Examine the differences between definitions of value, and the distinctions between value, price and cost.
· Describe how basic economic principles create and sustain value in real property.
· Explore real estate markets compared to other kinds of markets such as money markets and capital markets.
· Examine the process of collecting data and illustrate economic base analysis.
· Discuss and differentiate neighborhoods and districts.
· Introduce the three basic approaches to value: the Cost Approach, the Sales Comparison Approach, and the Income Capitalization Approach.
· Discuss various kinds of appraisal reports along with the stages through which an appraisal report might travel.
· Discuss future trends in the appraisal profession.
AI CE Credit for Designated members, Candidates for Designation and Practicing Affiliates
· Attend Only = 35 points
Personal computer, internet connection.
If you are unable to complete a seminar once it begins, you may cancel out of the seminar before the official seminar end date. Once you cancel out of a seminar, however, you must start the seminar over at the beginning in any later enrollments. You cannot be placed into the seminar where you left off before canceling.
The following tuition refund policy is in effect for canceled online seminars based on the amount of material completed in a seminar:
Less than 25% of the seminar completed: $60 cancellation fee
More than 25% of the seminar completed: no tuition refund
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.
ONLINE CLASS ACCESS
Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to
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".
If you have any questions, please email us at
Online Education Homepage
200 W. Madison, Suite 1500, Chicago, IL 60606
888-7JOINAI (756-4624) |
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