Rates and Ratios: Making Sense of GIMs, OARs, and DCF

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Who should enroll General real property appraisers
Do you understand how various rates and ratios used in the income capitalization approach relate to each other? Do you know what effect these relationships may have on your selection and interpretation of data from comparable sales?
This seminar will provide a conceptual framework for thinking about key relationships among models, ranging from gross income multipliers to discounted cash flow models. Until now, little attention has been placed on how these models relate to each other. These relationships have important implications for how differences in rates and multipliers are interpreted and, in turn, for selecting and using data from comparable sales.

Using a case study that follows logical progression from GIMs to DCF models, you’ll analyze specific relationships (i.e., between going-in versus going-out capitalization rates and between before- and after-tax rates). You will gain a comprehensive overview of the broad range of relationships among key multipliers and rates.
  • Produce reports that are more consistent and defensible.
  • Identify differences in the levels of the various rates and ratios.
  • Recognize how relationships between rates affect your selection and interpretation of data from comparable sales.
Prerequisites None

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Program State Approvals
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7 hours

Yes. Participants must complete mandatory assignments in this program. Please plan your time accordingly and allow up to 5 days for the instructor to review your assignments. The instructor may ask for a re-submission of incomplete assignments. You may advance through the program while you are waiting for your instructor to review your work. You may also contact the instructor to request expedited review.

Classroom Recommendations and Requirements Synchronous Recommendations and Requirents
Classroom Requirements Online Education FAQ Synchronous Requirements
None specified

Online Course Access
Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. Click on the red “My Account” button if you are not automatically taken to your account page.
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Classroom Offerings

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