Appraisal courses are offered in certificate and undergraduate degree programs, especially in Associate of Arts programs. This education provides some of the industry experience needed to become a state-licensed real estate agent or broker.
Below is a list of concepts that students will encounter on a regular basis:
- Project finance
- Environmental remediation
- Public policy
- Report writing
List of Typical Courses
Principles of Property Valuation Course
In this course, students are introduced to fundamental appraisal procedures and techniques. They learn how to describe various types of properties objectively and to use those findings to determine a value. The course presents an overview of the real estate market as well as the ethical and legal considerations that apply to an appraiser.
Market Analysis Course
This class teaches individuals to identify and analyze the real estate market and to apply that understanding to the valuation of properties. Students examine market definitions, supply and demand, market segmentation and sub-markets. The data they collect helps them determine a property's highest and best use.
Property Inspection Course
Students taking this real estate appraisal course learn how to examine a property's physical infrastructure to help determine its value, especially of residential real property. They inspect the plumbing, heating, electrical and air conditioning systems. This course teaches individuals to look at a building's structural condition and identify potential issues in foundations, roofs and masonry. Students also learn how to estimate depreciation, and they learn the differences between replacement cost and reproduction cost.
Deeds, Contracts and Conveyances Course
This course examines the legal requirements and processes involved in a real estate transaction. It discusses deeds, which are signed legal documents, and contracts, which are binding legal documents. It looks at the legal transfer of title, known as conveyance, through deeds, contracts, real estate closings and foreclosures. Students learn about the landlord and tenant relationship, land use controls, condominiums and cooperatives.
Real Estate Broker Course
People take this class to prepare for examination and licensure in the state in which they wish to work as real estate agents. Students learn about the duties of the principal agent and the practices of listing properties for sale. Other important tasks include performing a comparative market analysis and utilizing the Multiple Listing Service. Real estate financing and contracts, brokerage practices and property insurance are also discussed.
Property Management Course
This course surveys the management of real property and the relationship between a tenant and a property manager. It covers issues such as leases, association fees, property maintenance and property insurance. Students also learn about managing industrial and commercial property. They discover how to promote various properties to attract new tenants.