Minnesota Pre-Licensing COURSE
30-Hour Salesperson Course 3 (Appraisal)
This course covers real estate appraisal topics geared toward real estate licensees. No, you're not an appraiser, but the state requires licensees to have a thorough understanding of the appraisal process. Why? Several reasons. Among these:
- Most transactions are dependent on financing and financing requires an appraisal.
- An understanding of valuation methods used by appraisals will assist you in performing more realistic comparative market analyses.
- When properties don't appraise, sale fails can occur. An understanding of how an appraiser arrived at a value estimate will help you decide whether it's worth contesting the appraisal.
Topics include central purposes and functions of an appraisal, social and economic determinant of value, cost, market date and income approaches to value estimates, final correlations, and reporting. The course also includes case studies.