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Why should you consider pricing your listing as an appraiser would? This course will help real estate brokers understand the different approaches to value and whether the sales comparison approach is appropriate for their particular listing. We will explore in depth how appraisers use the sales comparison approach to value real property by discussing how to pull appropriate comparable sales, making accurate adjustments for various features that impact the value, discussing the components of "highest and best use," and students will understand the reconciliation process appraisers use after they have made value adjustment for comparable sales.
We will discuss recent guidance from Fannie Mae regarding various options for appraisals (traditional appraisals, desktop appraisals,, hybrid appraisals, and value acceptance) and how these options could potentially impact a broker's liability in a real estate transaction.
We will also discuss compliance with Rule 6.12 and how it applies to brokers providing valuation services.
Students will be presented with an Xcel spreadsheet that mimics the "Uniform Residential Appraisal Report" used by real estate appraisers which will help them automatically calculate many of the value adjustments and will allow students to "weight" comparable sales based on their relevance to the subject property.
Location
Chicago Title
4645 Ziegler Rd, Suite 220
Fort Collins CO, 80528