Real Estate Appraisal

This Real Estate Appraisal course covers all of the topics included in the Basic Appraisal Principles and Basic Appraisal Procedures course requirements established by the Appraiser Qualifications Board of the Appraisal Foundation.

Technological advances have affected all facets of the real estate sales transaction, from the real estate broker’s first client contact to closing. There is no substitute for the well-reasoned opinion of a competent appraiser. The skill and judgment required to make a credible appraisal must begin with a thorough knowledge of appraisal principles and procedures and an awareness of the need to always be objective when dealing with clients, properties, and data.

Real Estate Appraisal is designed to help the student relate appraisal theory and technique to practice.

Course Overview and Materials

This course contains 16 units covering 45 hours of course content:

• Unit 1: The Appraisal Profession
• Unit 2: Appraisal Math and Statistics
• Unit 3: Real Estate and its Appraisal
• Unit 4: Real Estate Transactions
• Unit 5: The Real Estate Marketplace
• Unit 6: The Appraisal Process
• Unit 7: Building Construction and the Environment
• Unit 8: Data Collection
• Unit 9: Site Valuation
• Unit 10: The Cost Approach - Part 1: Reproduction/Replacement Cost
• Unit 11: The Cost Approach - Part 2: Depreciation
• Unit 12: The Sales Comparison Approach
• Unit 13: The Income Capitalization Approach
• Unit 14: Direct and Yield Capitalization
• Unit 15: Reconciliation and the Appraisal Report
• Unit 16: Appraising Partial Interests

This online course contains approximately 45 hours of reading material based on the 498-page textbook Fundamentals of Real Estate Appraisal, 14th Edition, written by William Ventolo and Martha Williams, published by Dearborn Real Estate Education.

Students will study each chapter sequentially and complete an online quiz to progress through the course.

Final Examination Criteria

• Number of questions: 100
• Types of questions: multiple choice
• Time: 3 hours
• How many final exams are offered: 2
• Minimum passing score: 75%

The course's final examination consists of 100 multiple-choice questions with a minimum passing score of 75%. The final examination is not downloadable or printable. The final exam has a time limit of 3 hours, after which the exam is automatically graded. Any unanswered questions at the end of the final exam will be marked as incorrect. Students that do not pass the final exam may attempt the final exam a second time. Students who fail the final exam twice must start the course over from the beginning.

The DRE limits students taking final exams for prelicense courses to one completed exam per 17-1/2 day period.

No other substitute method of taking or completing this course is allowed.

Course Instructor

Upon registering for this broker pre-license course, you will be assigned a primary instructor. This instructor will assist you with regard to any questions regarding course content. You may contact your instructor by email.  Technical questions relating to course navigation or account login difficulties should be directed to OnlineEd customer service.

Equipment Required

The California Real Estate Appraisal course is presented via the internet. The only thing you need to complete the course is a web browser and an internet connection. A textbook of the course material may be optionally purchased, though all course progress and testing must be completed online.

Completion and Assignment Timelines

This pre-license course may be completed at your own pace. The course is designed to take a minimum of 45 hours to complete. The time will be spent reading the course text materials, studying the text materials to ensure concept understanding, completion of the course exercise sets, and review of support material and successful passage of the course final examination.

The California DRE requires that pre-license courses not be completed in less than 17-1/2 days from enrollment, per course. This means that if purchased as a package, the 135 hours necessary to obtain a California broker license may not be completed in less than 54 days from enrollment.

You will have a maximum of 365 days from enrollment to complete the course, after which course access will end.

Withdrawal and Refund Information

The following is the cancellation and refund policy:

1. OnlineEd may honor post-sale rebate requests for differences in product pricing due to promotions or coupons only if the request is made within three business days of purchase. OnlineEd will not honor rebate requests for any products after three business days of purchase and will not price-match any competitor's products after a purchase is completed.
2. The student may cancel enrollment by giving email notice to School_Director@OnlineEd.com with REFUND REQUEST in the email subject line, or by U.S. Mail to: OnlineEd, School Director's Office, 14355 SW Allen Blvd., Suite 240, Portland, OR 97005. US Postmark shall constitute the date of delivery.
3. Unless OnlineEd has discontinued the program of instruction, the student is financially obligated to OnlineEd according to the following:
   1. 48 Hour Preview - Without a penalty, the student is granted 48 hours from enrollment to view the OnlineEd program. Student use or access of the provided account after 48 hours from enrollment will trigger "program commencement." Costs incurred by OnlineEd for already shipped textbooks and other promotional items are non-refundable and will be deducted from the refund amount.
   2. Cancellation After 48 Hours - If the student withdraws from the program or is terminated by OnlineEd for violations of the Student Conduct Policy or nonpayment, OnlineEd will charge 1) a $25.00 cancellation fee, 2) a $30.00 materials access fee per course, and 3) a registration fee of 15% of the sale price or $50 whichever is less. If the amount owed by student ever exceeds the total amount already paid, no additional charges will occur and no refund will be issued. If a third party paid for your course, then the third party is the owner of your course and can terminate the course at any time and without our notice to or approval from you. We give refunds under this clause to the third party and not to you. In order to prevent this from happening, you should come to agreement with the third party as to how this situation will be handled.
   3. Cancellation After 30 Days from Enrollment - If the student withdraws from the program or is terminated by OnlineEd for violation of the Student Conduct Policy or nonpayment after 30 days from course enrollment, the student shall be obligated for the tuition charged for the entire OnlineEd program and will not be entitled to any refund.
4. Refund of Bundled Items, Promotions, Textbooks, Surcharges, and Incentives - OnlineEd does NOT refund textbooks costs, surcharges, shipping charges, promotional items, or additional courses and items bundled with this course.

Course Prerequisites

There are no prerequisites required. However, you are advised to contact the California Department of Real Estate to determine whether you will be eligible to sit for the California Real Estate Broker examination. There are age and other requirements that must be met.

OnlineEd is a course provider and makes no determination as to your ability to obtain a California real estate license. The licensing process is between you and the California Department of Real Estate.

Course Identification Statement

In order to verify your identity, you will be asked to provide at the time of enrollment and again prior to taking the final examination certain information to verify your identity. Among the types of identification that may be asked for are your current California driver's license, current identification permitted under the California Vehicle Code, or any identification issued to you by a governmental agency or a recognized real estate related trade organization that was issued within the immediately preceding five years that bears your photograph, signature, and identification number. In addition, you will also be asked to provide answers to additional security questions, the answers to which are unique to you.

DRE Disclaimer

This course is approved for pre-license credit by the California Department of Real Estate. However, this approval does not constitute an endorsement of the views or opinions which are expressed by the course sponsor, instructor, authors or lecturers.

OnlineEd Disclaimer

The California Department of Real Estate does not approve nor endorse any of the forms used in this course with the exception of those prescribed by State and Federal Law. While this publication is designed to be accurate information about the subject matter it covers, it is sold with the understanding that the distributor, author, and publisher are not engaged in rendering legal, accounting, or other professional advice. If such advice or other expert assistance is required, the services of a competent professional should be sought. The recipient is cautioned to check with their managing supervisor before acting on any suggestion or recommendation, or before using any sample form contained herein.

Course Evaluation

After completing this course you are encouraged to complete the California Department of Real Estate's online course evaluation form. You can access this evaluation at https://www.dre.ca.gov/files/pdf/forms/re318a.pdf

Course Provider Complaint Statement

A course provider complaint form is available on the California Department of Real Estate (DRE) website at www.dre.ca.gov.  Access this form by typing in "RE 340" in the search box located in the upper right corner of the home page. An informational form regarding course provider complaints, RE 340A, is also available.