Course: Basic Appraisal Principles

This is where your appraisal career begins!
A LIVE/In-Person Basic Education / Qualifying Education (BE/QE) course

Instructor: Mark Smeltzer, MAI, SRA

If you’re considering a career in professional valuation services, your journey should begin with Basic Appraisal Principles. This four-day course will introduce you to real property concepts and characteristics, legal considerations, influences on real estate values, types of value, economic principles, real estate markets and analysis, highest and best use, and ethical considerations. The course should provide a solid foundation in basic appraisal principles no matter what appraisal specialty you pursue.

 

• Recognize the components of ethical and competent appraisal practice.
• Know the distinctive differences among land, real property, real estate, and personal property.
• Identify the three major land description systems.
• Distinguish the major components that appear in all definitions of market value.
• Understand the definitions of the economic principles of change, anticipation, supply and demand, competition, substitution, balance, externalities, and highest and best use.
• Solve basic real estate math problems in fractions, decimals, and percentages as well as mean, median, and mode.
• Use a financial calculator to perform mortgage calculations and to solve problems in simple and compound interest.
• Recognize the definitions of appraisal practice, valuation services, appraisal review, and other key terms.
• Identify the basic components in the appraiser’s scope of work decision.

 

Co-developed by the Appraisal Institute, ASA, and ASFMRA

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