BUS 477

Real Estate Appraisal

This course is designed to introduce the appraisal profession within the real estate industry. The general concepts and topics include: the fundamentals of appraisal concepts, process, practices and methodologies, real property interest, market conditions, building construction, data collection, and site valuation. The appraisal methodologies covered in the course include: the cost approach, the sales comparison approach, and the income approach. Within this framework of the appraisal methodologies, reconciliation and report preparation will be developed. The course also discusses the Uniform Standards of Professional Appraisal Practice. Additionally, topical presentations include analysis and discussion of current issues, ethics, federal and state regulation, practice tips, and professionalism. This course is required for the State of Ohio licensure exam.

Units: 3.0