Valuation Principles
- Concepts of Value
- Definition and types of value
- Market value versus investment value
- Highest and best use analysis
- Valuation Purpose and Standards
- Purpose and intended use of valuations
- International Valuation Standards overview
- Ethical obligations and independence
- Factors Influencing Value
- Physical characteristics and condition
- Location and accessibility
- Economic and market conditions
Valuation Approaches
- Sales Comparison Approach
- Principles of substitution and comparison
- Identifying comparable properties
- Adjustment factors and methodology
- Income Approach
- Income capitalization fundamentals
- Net operating income calculation
- Capitalization rates and yield analysis
- Cost Approach
- Replacement and reproduction cost
- Depreciation types and estimation
- Land valuation methods
Property Inspection
- Site Analysis
- Physical site characteristics
- Environmental considerations
- Access and infrastructure
- Building Inspection
- Construction quality and materials
- Building systems assessment
- Condition and maintenance evaluation
- Documentation Requirements
- Photographs and measurements
- Data verification procedures
- Inspection reporting standards
Market Analysis
- Market Research Fundamentals
- Primary and secondary data sources
- Market segmentation and delineation
- Supply and demand analysis
- Comparable Data Analysis
- Transaction data collection
- Rental market analysis
- Verification and adjustment of data
- Market Indicators
- Vacancy and absorption rates
- Price trends and market cycles
- Economic indicators affecting value
Report Interpretation
- Valuation Report Structure
- Report formats and requirements
- Key sections and content
- Supporting documentation
- Critical Analysis
- Reviewing assumptions and limiting conditions
- Assessing methodology appropriateness
- Identifying potential issues and red flags
- Application of Findings
- Using valuations in decision-making
- Communicating valuation results
- Challenging and appealing valuations
