Real Estate Appraisal Review School (REARS) develops the knowledge and skills required to evaluate a commercial real estate appraisal to determine compliance with appraisal regulations and standards provided by the agencies and in the Uniform Standards of Professional Appraisal Practice. (USPAP). The review of appraisals is a key component in the credit risk assessment process for commercial real estate loans.
Content is designed for examiners with experience with commercial real estate lending.
The length is four and a half days.
| At-a-Glance | |
|---|---|
| Length | 4 ½ days |
| Delivery | In-Person |
| Prerequisite/Pre-course | Yes |
| Continuing Education | Yes |
Objectives
Upon completion, participants should be able to:
- Calculate estimated values based on revised appraisal assumptions.
- Identify the relevant physical and economic property characteristics that affect the real estate collateral.
- Describe the three approaches to value.
- Describe various types of appraisals and appraisal reports.
- Identify potential fraud in appraisals.
- Identify common appraisal errors.
- Assess the reasonableness of an appraised value.
- Identify inconsistencies and potential violations.
- Use deductive reasoning to validate the consistency of information in an appraisal report.
Target Audience
The school is for examiners who want enhanced skills in reviewing and analyzing commercial real estate appraisals. Participants should have experience with evaluating commercial real estate loans and with income-producing real estate lending.
Prerequisites
Participants are required to complete Introduction to Real Estate Appraisal Review School.
Continuing Education
Annually the class is assessed for continuing professional education credits.
2026 Approved Credit Hours: 37.4