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Appraising Automobile Dealerships

    Online Education
 
  Seminar  
Category  General [Gen]  
Level  Intermediate  
Attendance Hours  7.0  
Current Price  $ 115.00 AI Price  
$ 137.00 Full Price  
 
  Instructor  
Bradley R. Carter, MAI  
    
 
  Location  
Appraisal Institute - Online Education
 
Click Here to check state approvals
    
 
  Sponsor / Contact  
  Appraisal Institute  
Email  OL-Help@appraisalinstitute.org  
Phone  (877) 674-2447  
 
  Description  
Overview:

An automobile dealership is a special-use property that presents unique challenges to its valuation. To develop a credible valuation, the appraiser must not only understand the intricacies of this specialized property type, but also have some familiarity with the automotive industry and trends that affect the properties at which vehicles are sold. This 7-hour online program is intended for appraisers who are experienced in general commercial real estate valuation, and who wish to explore issues unique to automobile dealerships. It explores the relationship between the auto industry, auto dealership enterprises and real property. It is also intended to be helpful to those involved in financing, developing, designing and investing in auto dealership properties.

Syllabus:
Module 1: Automobile Dealership Overview
Module 2: Market Analysis
Module 3: Site and Improvement Analysis
Module 4: Valuation Issues and Highest and Best Use
Module 5: Sales Comparison Approach
Module 6: Land Valuation/Cost Approach
Module 7: Income Approach

Learning Objectives:
Module 1
• Identify a dealership property and understand the related important terminology.
• Understand how dealership franchises work and relate to properties that are bought and sold.
• Recognize the components of an automobile dealerships and the different functions and profit centers.

Module 2
• Understand the fundamentals of auto dealership property market analysis.
• Identify the questions that market analysis must resolve from the perspective of both the operator of a dealership and the owner of a dealership property (which may be a landlord that does not operate the business).
• Understand the 5-step process of developing a market analysis.

Module 3
• Identify the important criteria in analyzing and evaluating a successful auto dealership location.
• Understand characteristics of auto dealership improvements to develop a credible appraisal.
• Recognize functional features and characteristics in the current market and the markets the industry envisions in the future.

Module 4
• Understand how the three approaches to value relate to automobile dealership property valuation.
• Identify property that is operated in conjunction with a going concern.
• Understand valuation issues specific (or common) to automobile dealership property appraisals.
• Identify auto dealership’s highest and best use, the six-stage lifecycle, and how it relates to various valuation premises.

Module 5
• Understand the foundation for a credible analysis.
• Select, verify, and present comparables and understand the relevance and limitation of the sales comparison approach.
• Understand the various units of comparison, along with their attributes and shortcomings.
• Apply adjustments properly.

Module 6
• Understand how to value the underlying land and relevance and limitations of the cost approach.
• Estimate the depreciated cost.

Module 7
• Understand basic Income Approach methodology.
• Recognize the difficulty in finding good rent comparables, and how to proceed in their absence.
• Develop a pro forma and income capitalization.

AI CE Credit for Designated members and Practicing Affiliates
• Attend Only = 75 points
 
  Equipment  
A financial calculator is required. The accepted model used in the program is the HP-12C.
 
  Prerequisites  
Knowledge and experience with basic appraisal theories and fundamental appraisal practices.
 
  For Further Reading  
  A Guide to Appraising Automobile Dealerships  
 
  Disclaimer  
Cancellation Policy
If you are unable to complete an online program once it begins, you may cancel out of the program within 30 days after the official end date. Absolutely no cancellations will be processed after 30 days of the official end date. Once you cancel out of a program, you must start the program over at the beginning in any later enrollments. You cannot be placed into the program where you left off before canceling.

The following refund policy is in effect for canceled online programs based on the amount of material completed in a program:

 Less than 25% of the program completed: $60 cancellation fee

 More than 25% of the program completed: no 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.
 
  Additional Information  
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 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".

If you have any questions, please email us at OL-Help@appraisalinstitute.org.


 

 
















 
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