AR201 Appraisal Review & Management Overview & Development
- Registration Closed
AR201 Appraisal Review & Management Overview & Development
Tuesday, October 29, 2024 - Friday, November 15, 2024
10:30-2:30pm Eastern Standard Time
Description
This course focuses on the overview and development of an appraisal review report and features an in depth understanding of the Uniform Standards of Professional Appraisal Practice (USPAP) that governs the appraisal review and management profession.
This course compares, contrasts, interprets, and explains the development of valuation review practices, discusses case illustrations, and the application of appraisal review standards. This course covers narrative appraisal review report writing as an argument, including a professional review report paradigm, and also incorporates discussion about appraisal review report examples. Participants will explore the scope of work for an appraisal review assignment to conclude credible assignment results, reviewer competency, and ethics. Other accepted appraisal standards are also presented and discussed. Students successfully completing this course will be able to advance to additional ARM POV courses.
Instructional Methods
AR201 immerses participants in the learning process with a discussion-based curriculum that includes group involvement and asynchronous learning with limited lecture. This course offers appraisal review methodology and standard of care practices by utilizing redacted reports from all appraisal disciplines.
Learning Level
Fundamental
Continuing Education and Contact Hours
32.4 Hours of CE are provided upon completion of the course (including exam hours).
Special Pricing
ASA-accredited members (AM, ASA, FASA) who would like to attend this class can receive a 50% discount. Pricing is reflected at checkout.
Financial Assistance
ASA’s Educational Foundation recognizes students who choose to invest their time in appraisal studies by providing assistance to students demonstrating a financial need. Please visit the Foundation’s webpage for more information and to download an application.
Class Schedule
SESSION 1 - Tuesday, OCTOBER 29 | 10:30 AM- 2:30 PM
SESSION 2 - Thursday, OCTOBER 31 | 10:30 AM- 2:30 PM
SESSION 3 - Tuesday, NOVEMBER 5 | 10:30 AM- 2:30 PM
SESSION 4 - Thursday, NOVEMBER 7 | 10:30 AM- 2:30 PM
SESSION 5 - Tuesday, NOVEMBER 12 | 10:30 AM- 2:30 PM
SESSION 6 - Thursday, NOVEMBER 14 | 10:30 AM- 2:30 PM
EXAM - FRIDAY NOVEMBER 15 | 10:30 AM- 2:30 PM
Virtual Class Registration Includes
One registrant log-in to the live sessions
Downloadable course materials to include a Student Manual and any additional handouts i.e. administrative/exam guidance, if applicable. All course materials are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution.
Attendance
This is a highly interactive class. Registrants must participate in the entire class (all class sessions) with cameras turned on in order to sit for the exam and receive a certificate following successful completion of the exam. The class will not be recorded or provided as an archive per accrediting body guidelines.
Final Exam
All exams will be conducted through ASA’s online exam platform on November 15. Successful completion of the exam is required in order to pass the class. Students must complete the online exam within 21 days after the class concludes. Further exam instructions and guidance will be provided within the eMaterials once available.
Certificate of Completion
Please allow 10-15 business days following successful completion of the exam in order to receive a certificate of completion via email notification. The certificate will be available for download under “My ASA Courses” on the ASA website (login required).
Download or Print eMaterials
Attendees should bring to class either an electronic copy (loaded on a laptop or mobile device) or a print copy of all course handouts to use as a reference. All course eMaterials are in an Adobe PDF format which can be viewed using the free Adobe Reader application. eMaterials are presented in color and are bookmarked and comment/typewriter enabled. When opting to print eMaterials, it is recommended that you adjust the print settings to print in black and white (or grayscale) and consider printing double-sided on recycled paper.
Barry Shea
Barry Shea, ASA, IFA, ARM has been appraising real property since 1987 and has held the IFA designation from the former NAIFA (now part of ASA) since 1997. In 2018, he was awarded the Accredited Senior Appraiser designation by the American Society of Appraisers (ASA) and in 2020, ASA awarded him the Appraisal Review and Management (ARM) designation. He has previously served as a Regional Governor for the New England states for NAIFA, president of NAIFA's New Hampshire Chapter and as a National Director. In addition, Shea is the past chair of the association’s Regulatory Issues Task Force. He was the NAIFA member representative to the Educational Council of Appraisal Foundation Sponsors (ECAFS) for 2001 through 2004. He served as the NAIFA representative to The Appraisal Foundation Advisory Council (TAFAC) from 2001 through 2008 and was the 2005 chair of that council. From 2009 through 2016 he served as a member of the Appraisal Standards Board of the Appraisal Foundation including three years as the Board’s chair. Currently, Shea serves as The Appraisal Foundation’s trustee for the International Ethics Standards Coalition (IESC) and is currently chair of the Coalition. Shea is also an affiliate member of the Lakes Region Board of REALTORS. He has also been an AQB Certified USPAP Instructor since 2002 and has served as an instructor for that program’s Instructor Certification Course several times since 2009.
Welcome to AR201
We are very excited to be working with you. The main objective of ARM201 is to support you in developing an appraisal review practice as part of your appraisal business.
This will be a very hands-on class. To ensure that the class is useful to you, please review the following information. This class will be taught in a dialogue format, which may be new to you. This format will involve a great deal of interaction with your peers, who will be professionals from all appraisal disciplines. Please respect everyone's time and participate in all class activities. Please put any questions you have about the course in the comment section below.
Course Logistics
The class uses a blend of synchronous and asynchronous learning methods. Students get credit for the time spent in both areas to make up the 27 hours required by The Appraisal Foundation.
Go to the Class Handouts tab and download the AR201 Student Manual (also at the bottom of this page)
Go to the Class Activities tab and complete the prerequisites
The sessions, course materials, and assignments are managed on ASA LMS. The Student Manual is the main document we will be working with in class, and many find it frustrating to try to manage it on their electronic device and other materials. We recommend you print out the Student Manual and put it in a binder. The other materials can be left in electronic format.
Synchronous learning is the sessions that occur all at the same time. The course will be taught live on Zoom technology. The ASA Education department can help you with technical support as needed. Please make sure you have a working video camera connected to your computer, good internet speed, good lighting on your face (no backlighting), and a quality microphone. Often the built-in computer camera and microphone are adequate for class purposes provided there are limited background distractions and noise. Participation with your camera on is required for this class. During the class, you will use the chat, polls, and breakout rooms to enhance the learning experience.
Asynchronous learning allows you to learn on your own schedule, within a certain timeframe. The ASA LMS has many required discussions, readings, and prerecorded webinars that are all part of the course. Timely participation in these activities is required in order to attend the following live (synchronous) session.
Completing the course prerequisites and assignments is required before the first class session. See the tab to the right of this Welcome Letter for all prerequisites and other assignments.
Course Objectives
By the end of the course, participants will have
1. Created a list of why appraisal reviews are performed and for whom
2. Listed the most common errors in appraisal reports that they are aware of and organize them into the major categories
3. Compared current understanding of appraisal review to the profession's standard definition
4. Analyzed the Ethics Rule for its key concepts of impartiality, objectivity, and independence, compare it to Standards Rule 3-1, and list the consequences of violating them
5. Differentiated between Codes of Ethics used by ASA and other associations
6. Analyzed the Competency Rule for its key components and list the consequences of violating them as an appraisal reviewer
7. Analyzed the Scope of Work (SoW) Rule for its key components, Standard 3-2 and list the consequences of omitting them as an appraisal reviewer
8. Analyzed Standard 3: Appraisal Review, Development
9. Analyzed Standard 4: Appraisal Review, Reporting
10. Critically applied the key components of Standards Rules 3-3(a) and 3-3(b)
11. Contrasted the practical applications of preparing an appraisal review with an opinion of value to an appraisal review without an opinion of value
12. Critically analyzed the differences between Rules and Principles
13. Critically examined how to review an appraisal report that has not been prepared based upon any standards
14. Identified the inappropriate use of standards
15. Identified laws of logic that are common to appraisal reports
16. Utilized the IRAC and CRAC format to begin the appraisal review report writing process
17. Outlined the fundamental differences between USPAP, IVS, SSVS and SVP
18. Summarized the key elements of the class by task
Key:
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