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Real Estate Appraisal CERTIFICATE Shawnee Community College and McKissock, Inc. have partnered to offer the following coursework as required by the IL Department of Professional Regulation for individuals seeking licensure.
Associate Appraiser Certificate (75
hours) Prerequisite: No
experience required. FIRST SEMESTER Credit Hours REP 224 Standards of Professional
Practices (15 hrs) 1 REP 225 Foundation of Real Estate
Appraisal (30 hrs) 2 REP 226 Residential Real Estate
Appraisal (30 hrs) 2 TOTAL HOURS 5 Certified Residential Appraiser Certificate (120
hours = 75 from above plus 45 from below) Prerequisite:
minimum of 2,500 hours gained over a period of not less than 24 months. FIRST SEMESTER Credit Hours REP 227 Real Estate Appraisal
Methods (30 hrs) 2 REP 231 Residential Report Writing
(15 hrs) 1 TOTAL HOURS 3 Certified General Appraiser Certificate (180
hours = 120 from above plus 60 from below) Prerequisite:
minimum of 3,000 hours gained over a period of not less than 30 months. FIRST SEMESTER Credit Hours REP 228 Market Analysis (15 hrs) 1 REP 229 Appraisal Income Application
(15 hrs) 1 REP 232 Narrative Report Writing (15
hrs) 1 Elective
(15 hrs) 1 TOTAL HOURS 4 NOTE: Please check with the Office of Banks and
Real Estate website www.obre.state.il.us
for changes in requirements. REP 224 Illinois I, Standards of Professional Practices
Course is designed to satisfy the requirement of Illinois I for individuals seeking State Certification or Licensure as a real estate appraiser. Course familiarizes students with the provisions and standard rules of the Uniform Standards of Professional Practice and state regulations. The Uniform Standards contain rules that govern professional appraisal practice. The Ethics Provision, the Competency Provision, and the Department Provision are examined in detail in relation to actual practices.
REP 225 Illinois II, Foundation of Real Estate Appraisal
Course is designed to satisfy the requirements of Illinois II for individuals seeking State Certification of Licensure as a real estate appraiser. This is an introductory course to real estate appraising that provides an overview of the valuation process. Fundamental real estate appraisal principles and guidelines for professional appraisals are covered. Provides both entry level and the experienced appraisers with the basic elements of the appraisal process. Covers appraisal theory, concepts, procedures, and level of performance required of appraisers and demonstrates valuation techniques and analysis.
REP 226 Illinois III, Residential Real Estate Appraisal
Course is designed to satisfy the requirements of Illinois III for individuals seeking State Certification or Licensure as a real estate appraiser. Provides a working knowledge of appraisal procedures and techniques to estimate the value of single family residential properties. This is a follow-up on course to Illinois II. Instructs in the applications of the three approaches to value, neighborhood analysis, property inspection, construction, funtional utility, measurements, quality, condition, and depreciation.
REP 227 Illinois IV, Real Estate Appraisal Methods
This course is designed to satisfy the requirements of IL IV for individuals seeking state certification or licensure as a Certified General Appraiser. This course will cover basic evaluation procedures for appraising non-residential properties. Topics covered will be basic statistic, site evaluation, cost approval, sales comparison, income approach, and appraisal reports.
REP 228 Illinois V, Principals of Capitalization
This course is designed to satisfy the requirements of IL V for individuals seeking state certification or licensure as a Certified General Appraiser. This course will cover overall rate development, gross income estimates, vacancy, and collection loss, operating expense estimates, direct capitalization, six functions of $1, reserves for replacement, lease analysis, cash flow estimates, and debt coverage ratio.
REP 229 Illinois VI, Real Estate Appraisal Applications
This course is designed to provide participants with an understanding of the mathematical procedures used to analyze data to derive sound value estimates for income-producing properties. It will focus on the skills needed to solve appraisal problems, the ability to assess the significance of the data available to apply procedures to derive necessary information from the data and to interpret and test the reasonableness of mathematical conclusions.
REP 231 Illinois VII, Residential Report Writing
This course is a residential report writing course designed to provide a basic understanding of effective writing as it pertains to residential real estate appraisals. This curriculum is required for Illinois licensure as a Certified Residential Appraiser. The course includes instruction in completing residential appraisal forms, cover narrative reporting relative to residential property, especially clarifying a form type appraisal; and methods and techniques in writing in a clear and concise manner.
REP 232 Illinois VIII, Non-Residential Report Writing
This course is a non-residential report writing course designed to provide a basic understanding of effective writing as it pertains to non-residential real estate appraisals. This curriculum is required for Illinois licensure as a Certified General Appraiser. The course includes instruction in completing non-residential appraisal forms; cover narrative reporting relative to non-residential property; and methods and techniques in writing in a clear and concise manner.
For More Information Contact: Phyllis Sander - Business and Occupational Division Chair at 1-800-481-2242 ext. 3334 or e-mail phylliss@shawneecc.edu |
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