• Generalize the role of the appraiser and the appraisal in a real estate transaction;
• Evaluate the forces at work in the marketplace as they affect appraisals;
• Apply the principles of appraisal to understand an appraisal report;
• Classify the six types of value;
• Use all applicable approaches to value when pricing various types of properties;
• Calculate the square footage of living area and the total lineal footage of a subject property;
• Predict what an appraiser will “look for” in the exterior and interior of a subject property;
• Relate the differences between an appraisal and a Comparative Market Analysis (CMA);
• Illustrate the differences between physical depreciation, functional obsolescence, and external obsolescence and how they affect property values.
301-Property Management and Common Ownership…6 hours
• Manage the most common property management assignments and the specific challenges with each;
• Perform the duties and obligations of a property manager for the owner(s);
• Perform the duties and obligations of a property manager for tenant(s);
• Operate (manage) properties in compliance with legal requirements;
• Demonstrate professional communication and business management skills as a property manager.
301- Exchanging…3 Hours
• Relate the value of exchanges as a strategy for customers to benefit from tax and financial incentives;
• Illustrate the differences between selling and exchanging properties under the tax laws;
• Apply the methods of exchanging under Section 1031 of the tax code.
Note: Real Estate Specialties 301 is a 15-hour course with a 1.5-hour exam approved for 8 hours of CE Specialty Credit OR 15 hours of Broker Post-Licensing Credit per module.
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