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Pricing Property New

Course Description

Course Description:

Students will be introduced to the concepts, types, and approaches to value. They will learn about market value; selecting the best comparables when estimating real property value; and accurately determining square footage. This course addresses how to correctly make adjustments to value, market timing, and the reasoning and strategies as to why property sells.

Course Outline:

  • Valuation
  • Comparative Market Analysis
  • Replacement Value
  • Income – Capitalization Approach
  • Cost Approach
  • Comparables

Learning Objectives:

  • Compare and contrast the three approaches to valuation; Describe the purposes and content of a comparative market analysis (CMA); Explain what comparables are used for and which to select when estimating real property value
  • Analyze the factors affecting cost, price, and value; Identify the four characteristics necessary for real property to have value; Define key terms
  • Estimate the value of properties using the cost method approach; Differentiate between the three forms of depreciation; Describe how replacement cost is determined
  • Describe the income – capitalization approach to appraising the value of income – producing properties; Use the capitalization formula to calculate the value of a property; Explain the derivation of net operating income and how capitalization rates are calculated; Apply the gross rent multiplier
  • Define the three classic approaches to value; and Explain a cost approach appraisal and when it is used.
  • Describe a sales comparison approach appraisal; Follow the guidelines for when selecting comparable property; and Apply the “two in, one out rule.”

6 lesson assessments
1 post assessment Passing Information – % Quizzes & % Final Exams: 75%



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