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Course 400 – Principles of Real Estate Appraisal

Course Number: C400 - Online
Course Title: Principles of Real Estate Appraisal
Course Level: Beginning
IRWA Credit Units: 16 QEU / CEU*
*QEU (qualifying education units) and CEU (continuing education units)
Prerequisites: Not applicable
Price: $415 USD for members / $520 USD for non-members

Course Description
This course enables participants to demonstrate a basic knowledge of the valuation process and its components. Two case studies (residential and commercial) are utilized throughout the course. At the conclusion of this two-day course, participants will be able to:
  • Express an understanding of basic real estate terms and principles
  • Demonstrate a basic knowledge of the valuation process and its components
  • Discuss the definitions of, and steps in, each of the three approaches to value (cost, sales comparison and income capitalization)
  • Solve problems that show an understanding of the three approaches to value

Credentialing
  • Industry: A core course that is required for all 4 pathways in the RWP program.
  • Specialist: Required course for the R/W-AC program.

Topics
  • Types and uses of appraisals
  • Types of value
  • Area and site analysis
  • Highest and best use analysis
  • Sales comparison approach
  • Reconciliation and final value determination
  • Introduction to partial acquisitions
  • Economic principles
  • The appraisal process
  • Market analysis
  • Cost approach

Course Tuition includes
Participant Manual (in PDF format; available for download)

Required Material
Financial calculator
Who should take this course
This course is ideal for new appraisers, for individuals contemplating entering the appraisal field and for experienced appraisers in need of a refresher course.
Anytime you purchase an online class at IRWA University, you have one year from the date of purchase to complete your class. After that time, the class will no longer be accessible. Your progress is saved, however, it is highly recommended that you finish the class as soon as possible from the date of purchase to ensure high retention and application rate of knowledge and skills learned.

All participants will receive a total of 2 attempts to pass the exam with a score of a 75% or better. If a passing grade is not achieved by the second attempt, the participant must re-purchase the class if he or she wishes to take the exam a third time. Please note, IRWA online classes are not approved for State QE or CE credit.