This program was designed for appraisers who have some knowledge of the process and who wish to advance their skill set and review the basic procedures of sales comparison analysis. For some, this will be a new way to think about the sales comparison approach, but for more experienced appraisers this may be somewhat like an airline pilot going back to ground school to re-familiarize themselves with basic procedures that are not used often but still are important to the job. You’ll study the underlying logic of the sales comparison approach, ways to support adjustments, how to reconcile the evidence of value and why some of the data may be inconsistent. You’ll explore the research and analysis of human behavior in the buying process and why some sales are not good indications of market value. This material is also important to appraisers who receive some push back from clients regarding the logic of the sales comparison approach or in some cases, other non-client users, like homeowners, who object to the conclusions.
Identify anomalies in sales comparison data that will cause inconsistent indications of market value.Determine when sales are not indications of value for the subject. Recognize how sales comparison analysis is used in other industries besides real estate. Identify what alternatives are available to buyers in a market and why that is important to appraisers.
