Pass the Real Estate Appraiser Exam on Your First Try

Real Estate Market

Market analysis, supply and demand, market trends, market area delineation, and economic factors that influence value.

Property Description

Site analysis, building construction, property inspection, legal descriptions, zoning, and physical characteristics affecting value.

Land or Site Valuation

Methods for valuing land and sites, including extraction, allocation, sales comparison, and direct techniques.

Sales Comparison Approach

Comparable selection, paired sales analysis, adjustment techniques, units of comparison, and reconciliation of sales data.

Cost Approach

Reproduction vs replacement cost, depreciation analysis (physical, functional, external), and cost approach reconciliation.

Income Approach

Direct and yield capitalization, gross income multipliers, expense reconstruction, lease analysis, and discounted cash flow.

Reconciliation

Reconciling indications of value across approaches, weighting, and reaching a final defensible value opinion.

USPAP

Uniform Standards of Professional Appraisal Practice — Ethics & Competency Rules, Scope of Work, Standards 1 & 2, valuation bias, and fair housing.

Emerging Appraisal Methods

Alternative inspection techniques, automated valuation models (AVMs), hybrid appraisals, and other modern valuation methods.

Appraisal Statistical Methods

Descriptive and inferential statistics, regression analysis, measures of central tendency, and statistical inference for appraisal.