New Appraisal Institute course teaches seven steps of review process

Chicago, IL The Appraisal Institute, one of the nation’s largest professional associations of real estate appraisers, premiered a course to help appraisers work through all seven steps of the appraisal review process and apply them within a simulated, real-to-life assignment.

Attendees of the “Review Case Studies – Residential” course will apply the review process learned in “Review Theory – Residential” by walking through a case study that focuses on a two-stage review assignment.

The Appraisal Institute created the review designation program in response to the important role that appraisal review plays in risk management and mitigation for many clients and users of appraisal services.

“This course provides an excellent opportunity for appraisers, reviewers and other real estate professionals to gain hands-on knowledge that can be applied in day-to-day appraisal review situations,” said Appraisal Institute president Scott Robinson, MAI, SRA, AI-GRS. “The Appraisal Institute is proud to offer this latest addition to its review designation education line-up.”

“Review Case Studies – Residential” premiered in Chicago and will be offered at locations across the country.

Upon completion, participants should be able to:

• Apply the steps of the review process to a two-stage residential appraisal report review assignment; 

• Evaluate and analyze key sections of the Uniform Residential Appraisal Report through an in-depth case study and work-life review applications; 

• Effectively develop and communicate opinions of completeness, accuracy, adequacy, relevance, reasonableness, appropriateness, credibility and reasons for disagreement; and 

• Evaluate appraisal errors to distinguish whether they are trivial or material from a review perspective.