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Sep 20, 2026
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MKTG 223 - Residential Appraising Part I
PREREQUISITES: Program Advisor Approval
PROGRAM: Business Administration after said residential appraisal program has been approved by the Real Estate Appraiser Certification Board.
CREDIT HOURS MIN: 5
LECTURE HOURS MIN: 5
DATE OF LAST REVISION: Summer, 2011
To substantially prepare the student for taking the State of Indiana licensed trainee residential appraiser examination. After taking this 75-hour classroom course the student must take an additional 15 classroom hours in Uniform Standards (USPAP) before being eligible to sit for the State Trainee examination.
MAJOR COURSE LEARNING OBJECTIVES: Upon successful completion of this course the student will be expected to be able to:
- Discuss the elements of FIRREA and the certification qualifications of the Appraisal Standards Board (ASB) and the Appraiser Qualifications Board (AQB) of the Appraisal Foundation.
- Illustrate the basic value principles of real estate.
- Demonstrate competency in the sales comparison approach in the appraisal process.
- Demonstrate competency in the cost approach in the appraisal process.
- Demonstrate competency in the income capitalization approach in the appraisal process.
- Assemble, record and verify data collection information.
- Reconcile the three value approaches.
- Interpret capitalization procedures and techniques.
- Construct appraisal reports.
COURSE CONTENT: Topical areas of study include -
- Influences on real estate value
- Legal considerations in appraisal
- Types of value
- Economic principles
- Valuation process
- Real estate markets and analysis
- Property description
- Highest and best use analysis
- Site value
- Appraisal statistical concepts
- Cost approach
- Sales comparison approach
- Valuation of partial interests
- Narrative report writing
- Income approach including gross rent multiplier analysis
Course Addendum - Syllabus (Click to expand)
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