Review Theory—General is the fundamental review course that all reviewers of assignments involving income-producing and other nonresidential properties should have in their educational background. It is a required course for individuals pursuing the Appraisal Institute General Review Designation (AI-GRS, Appraisal Institute General Review Specialist).
At the core of this course is the review process. Participants explore the seven steps outlined in this process as they apply to nonresidential properties. To be a reviewer, an appraiser must learn how to develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness relative to the work under review. These opinions must be refined through tests of reasonableness to develop reconciled opinions of appropriateness and credibility.The material provides a refresher on key valuation skills often required of reviewers, such as measuring financial feasibility in highest and best use analysis and various applications of the income capitalization approach. In addition, the course covers reporting reviews for income-producing property and the use of commercial review report forms, narrative reports, and oral review reports. Participants will gain practice in writing a scope of work statement for three types of assignments. They will also develop a template for a narrative review report on a property type of their choice (office, retail, apartment, etc.). By taking this course, participants will gain invaluable confidence in the fundamentals of review.
Please note: Designated Members and Candidates for Designation will receive the discounted AI Price for Advanced Education courses: Review Theory-General and Review Case Studies-General. All others will receive the Full Price.
Upon completion of the course, participants should be able to:
• Define review
• Distinguish between appraisal and review
• Evaluate the necessary knowledge and skills required to complete reviews
• Distinguish between trivial and material errors
• Identify types of review assignments and the process employed in the reviewer’s scope of work
• Recognize regulatory compliance issues for review appraisers
• Identify the steps necessary to effectively communicate the review
The Review Theory—General course is required for individuals pursuing the Appraisal Institute General Review Designation (AI-GRS – Appraisal Institute General Review Specialist). For more information regarding the requirements for the review designation, please click here.
If you are currently designated, click here for more information on the alternative path.
If you are currently a candidate for designation, or wish to become a candidate, click here for the specific designation requirements.
The 40-hour Advanced Concepts & Case Studies course implements a blended learning approach, which includes a pre-class, two-hour online session combined with 35 hours of traditional classroom education and wraps up with a three-hour exam on the sixth morning.
Please note Designated Members and Candidates for Designation will receive the discounted AI Price for Advanced Education courses: Advanced Income Capitalization, Advanced Market Analysis and Highest and Best Use, Advanced Concepts and Case Studies, and Quantitative Analysis. All others will receive the Full Price.
For more information on how to become a Candidate for Designation, click here.
Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; course equivalencies.Click here.
This course synthesizes basic and advanced valuation techniques taught in previous courses, and addresses consistent treatment of the three valuation approaches for various valuation problems. Case studies teach participants how to address common but complex appraisal issues, including a leased fee not at market rent, a proposed property, a property in a market not at equilibrium, and a subdivision. The course emphasizes the need to test the reasonableness of conclusion in an appraisal.
Note. This is primarily a synthesis course, not a review course. Like all advanced education courses sponsored by the Appraisal Institute, the course naturally reviews many concepts taught in previous courses. However, it includes some new material and does not include a complete overview of the other courses. Therefore, Advanced Concepts & Case Studies should not be considered an adequate review for the comprehensive exam. To prepare for the comprehensive exam, participants must review all four advanced education courses, as well as basic concepts from qualifying education for certified general appraisers.
Upon completion of the course, participants should be able to: • Develop and reconcile cost, income, and sales comparison approaches for a leased fee interest rent, including consistent treatment of property rights
• Recognize the typical relationships between yield rates on leased fee and fee simple estates, considering their varying risk
• Review proper procedures for developing a market-supported discounted cash flow analysis, and apply them to practical examples
• Develop and reconcile cost, income, and sales comparison approaches for a proposed property as is, upon completion, and upon stabilization
• Demonstrate a working knowledge of various methods of calculating a rent-up adjustment and a property rights adjustment
• Identify the demographic and economic data used to estimate an absorption period for a development project
• Develop and reconcile cost, income, and sales comparison approaches for a property in a market not at equilibrium
• Conduct inferred and fundamental demand analysis based on data provided in case studies
• Develop and reconcile cost, income, and sales comparison approaches for a subdivision
|FREAB CE: 20 Hours
AI Attend Only: 275 points
Attend and Pass: 375 points
SAK Comedy Lab
29 S. Orange Ave
Orlando, FL 32801
Friday, August 23, 2019
7 PM – 9:00 PM
SAK is located at 29 S. Orange Ave on the 2nd floor of the City Arts Factory between Central & Pine Street.
Parking Near SAK…be sure to read
“GARAGE TIPS” for easier parking.
Don’t park on Orange even if you see other cars there. There’s a good chance you’ll be towed if you park in front of SAK on Orange Ave.!!! That would be stinky.
The garages and pay lots are usually your closest options, but there is FREE METERED STREET PARKING after 6:00pm within 3 blocks of SAK. Spots can be found along Rosalind (near Lake Eola) and near the cross streets of Pine, Central and Church.
GARAGE/PAY LOTS: Most garages and pay lots are located on the cross streets of Central, Pine, and Church. They usually charge from $4 to $10.
The Plaza Cinema Garage – 15 S. Court Ave, behind The Plaza – Orlando, FL 32801
PLAZA CINEMA GARAGE TIPS: 1. We HIGHLY recommend you Park on Level 3 or above (simply follow signs for movie theatre parking) and that you write your level down. Spaces are wider and the elevators are closer. It’s easy to lose your car if you park below the 3rd level.
2. You CAN park in reserved spaces after 6:00pm – as long as you leave by 6am you party animal! 3. Bring your parking stub in to the SAK Box Office so we can validate it for $4 parking.
4. The pay stations rarely work even though they tell you to pay at the pay stations. If you are paying by credit card, save time and skip the pay stations and go right to the exit gate, which will take your card! If you’re paying by cash you can try those blasted pay stations or just go to Level 2a, park in a temporary parking spot and pay at the garage office.
5. NOTE: If you park on Level 2a, 2b and 2c there is only ONE elevator on the corner of Church and Court. NOTE AGAIN, this particular elevator does not go to Level 3 or above….the rest do!
Garage is open 24 hours. Clearance is 6’7”. ***IF YOU ARE CHARGED MORE THAN $4, GO TO THE GARAGE OFFICE ON 2A TO GET IT FIXED….just tell ‘em you went to SAK.
HOW TO GET TO SAK from this garage: The road in front of the Plaza is Orange Ave. Turn right on Orange and SAK is on the right just as soon as you cross Pine.
The Library Garage – RIGHT ACROSS FROM the DOWNTOWN LIBRARY (a block and a half)
$6 between 6 & 10pm; $10 on Amway Center event nights – (www.amwaycenter.com/events)
Garage is locaed at 112 E. Central Blvd, Orlando, FL 32801. Many people enjoy this garage even though we do not validate and it costs more simply because the spaces are wider.
GARAGE TIPS: Pay at entrance, cash or check only. After 10:00pm parking is $10. Clearance 7’.
HOW TO GET TO SAK from this garage: If you exit at the door on Central Blvd, go left. At the 1st light, go left on Orange. SAK will be on the left, just before Pine Street. If you exit at the door on Pine St, go right. At the first light, go rigt on Orange. SAK will be 2 doors down on the right.
This course addresses topics that were not included in the previous version, such as the Guide Notes to Standards of Professional Appraisal Practice. Numerous Q&As address real-life, up-to-date matters that appraisers encounter in various assignments, including mortgage lending, litigation, property tax appeal, and many more.
The course contains relevant and much-needed information for professional appraisers.
The content emphasizes:
• Business practices issues, such as how to respond to seemingly unreasonable requests, how to address client pressure, and how to approach a complex assignment
• Which standards apply to Appraisal Institute Designated Members, Candidates for Designation, Practicing Affiliates, and Affiliates, and when they apply
• The key principles of the Standards of Valuation Practice
• How to identify and avoid behavior that violates the Standards of Valuation Practice
• The correct way to use the Appraisal Institute’s designations, emblems, and logo
• Understanding the Appraisal Institute’s enforcement process
NOTE: The AQB approved this course for 4 hours of CE. This is due to some content being specific to the Appraisal Institute. Check with your state for approved credit hours.
|FREAB CE: 4 Hours
AI CE: 35 points