Credit Hours: 7.5
This course is delivered in our stunning OnDemand video lecture format. With our OnDemand video lectures, you have the ability to access professional instruction anytime and anywhere you have an Internet connection! Filled with studio and “onsite” video learning objectives, this OnDemand course engages, enlightens, and entertains!
The sales comparison approach to value is essential to the real estate appraisal process, yet it has often been a source of uncertainty for many appraisers. The adjustment calculation process leads many appraisers to just throw their hands up in frustration. Trying to prove, or even offer support for, an adjustment can be a daunting task. And for the readers of the report, it can be even more frustrating because there may not be enough information available to understand how the appraisers arrived at their adjustment conclusion.
We all understand that the premise associated with the sales comparison approach is that an appraiser can establish market value through a study of the subject property and other competing properties. Then the appraiser makes allowances for differences between the subject property and the comparable properties. These allowances will be applied in the form of adjustments. Therefore, the formation of adjustments is essential to the accuracy of the sales comparison approach. Furthermore, the explanation of how the adjustment was realized is essential information that allows the reader to fully understand the logic and not be misled.
This course will unlock the mystery behind making adjustments and give you a fundamental understanding of how to make adjustments for the sales comparison approach to value.
This course has been approved by the Minnesota Commissioner of Commerce for 7.5 hours of real estate continuing education.