Principles of Real Estate Appraisal

400 – Principles of Real Estate Appraisal: An introduction to the principles of real estate and real property valuation combining theory, case studies and problem-solving.

Course Number: C400
Course Title: Principles of Real Estate Appraisal
Course Level: Core
IRWA Credits: 16 QEU / CEU
AQB Credits:

Not applicable


Course Description

This two-day, beginning-level course introduces the valuation process, basic terminology, and three approaches used to develop real estate value opinions. Two case studies (residential and commercial) are utilized throughout the course.

At the conclusion of this two-day course, participants will be able to:
  • Express an understanding of basic real estate terms and principles.
  • Demonstrate a basic knowledge of the valuation process and its components.
  • Discuss the definitions of ,and steps in, each of the three approaches to value (cost, sales comparison and income capitalization).
  • Solve problems which show an understanding of the three approaches to value.


  • New SR/WA: A core course that is required for the RWP certification. 
  • Industry: A core course that is required for all 4 pathways for the RWP certification.
  • Specialist: A core course that is required for the R/W-AC and R/W-URAC certifications.


  • Types and Uses of Appraisals
  • Types of Value
  • Area and Site Analysis
  • Highest and Best Use Analysis
  • Sales Comparison Approach
  • Reconciliation and Final Value Determination
  • Introduction to Partial Acquisitions
  • Economic Principles
  • The Appraisal Process
  • Market Analysis
  • Cost Approach

Course Tuition Includes

  • Participant Manual
  • USPAP Text

Required Material

  • Financial calculator

Who Should take this course

This course is ideal for new appraisers, for individuals contemplating entering the appraisal field and for experienced appraisers in need of a refresher course.


Register for this class today

Classroom Based Education

Online Education

19210 South Vermont Avenue, Building A,Suite 100, Gardena, CA 90248 Telephone: (310) 538-0233 Fax: (310) 538-1471 Canadian Toll Free # 888-340-IRWA (4792)
© 2017 International Right of Way Association - All Rights Reserved