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Real Estate Division

CPD 123 - Adjustment Support in the Direct Comparison Approach

Pre-requisite: BUSI 330 or a thorough understanding of the direct comparison valuation approach.

This one lesson course addresses "best practices" for adjustment support in appraisals when applying the direct comparison approach. Appraisers face time and data constraints and this course explores practical methods for supporting and substantiating adjustments. A "hybrid technique" is explored that combines aspects of both quantitative and qualitative adjustment methods in reaching valuation conclusions, ensuring that they are both defensible and attainable. 

Course Outline

Foreword: Introduction To Professional Development Courses

Lesson 1: Adjustment Support in the Direct Comparison Approach: Hybrid Adjustment Technique

  • Instructor's Comments

    • Preamble: Why is this course necessary?
    • What is the Hybrid Adjustment Technique?
    • Support for the Hybrid Adjustment Technique
  • Detailed Hybrid Adjustment Process
    • Identification of Best Indices (Comparables)
    • Adjusting for Market Conditions
    • Adjusting for Location
    • Adjusting for Size
    • Qualitative Portion of Hybrid Adjustment Technique
  • Case Study: Hybrid Direct Comparison Adjustment Technique
    • Quantitative Analysis
    • Qualitative Analysis
  • Conclusion: Hybrid Adjustment Technique
  • Review and Discussion Questions
  • Appendix A: Quality Point Technique

Afterword

  • The Final Examination

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