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Descriptions |
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Appraisal
Principles; 30 hours- IL1-08
This
is the first appraisal class taken by pre-licensees.
It establishes the educational foundation for the
student. The course begins with an explanation of
basic appraisal concepts and principles. Other essentials
for the new appraiser such as an overview of legal
considerations, influences on real estate value,
types of value, classic economic principles, an
overview of real estate markets and analysis, real
estate contracts, leases, and forms of ownership
are also covered. Appraisal mathematical principles
and applications are presented in this course and
students learn how to measure buildings and compute
square footage. An HP 12C calculator is required
for this course.
Appraisal
Procedures; 30 hours- IL2-08
Appraisal Procedures builds on the foundations established
by the Appraisal Principles class. This course delivers
a thorough instruction on collecting and selecting
data, inspection procedures, property description
and valuation procedures for the Cost Approach,
the Sales Comparison Approach and the Income Approach.
Plentiful real life examples and experiences are
shared, which enable the student to connect theory
and practical
applications presented within the text. The URAR
form is thoroughly analyzed and the class works
through a sample residential appraisal complete
with comparable data from the MLS, data entry and
adjustment grid analysis. Additional topics covered
in this course include writing/communicating the
appraisal report, reconciliation and final value
conclusion. An HP 12C calculator is required for
this course.
Standards
and Ethics; 15 hours- IL3-08
An essential class for any appraiser wishing to
obtain an appraisal license in Illinois, this nationally
approved class familiarizes students with the appraiser's
obligations and requirements set forth by the Uniform
Standards of Professional Appraisal Practice (USPAP).
The course materials and exam for this class are
provided by the Appraisal Foundation and the instructor
is an Appraisal Qualifications Board certified USPAP
instructor. |
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