Modernization of Appraisal Models and the Effects on Real Estate (Virtual - 7 Hours)

Registrations for sections of this course close at 2:00 p.m. the day prior to the course.

Traditional appraisal services have evolved to include property data collections, remote inspections, third-parties, hybrid approaches, fully desktop appraisals, and even artificial intelligence. As the real estate industry moves forward with these modern approaches to appraisals, it licensees, lenders, clients, and consumers. Understanding these modern approaches to value is essential for consumer protection and benefit.

This course will look at the definitions, requirements, pros and cons of desktop valuation service models, while examining risk, services, and terminology. The industry continues to evolve with the introduction of these desktop, hybrid, and bifurcated appraisal models. While these innovative approaches blend traditional appraisal methods with modern technology to streamline the valuation process, it now often involve third parties and different expectations.
These advancements in the industry aim to increase efficiency, accuracy, and speed in property valuations while maintaining the integrity of the process. As technology continues to shape the future of the industry, potential risks emerge. Consumers need to be equipped with a clear understanding of these models, which have benefits – but have drawbacks, so having an educated licensee communicating those key elements is essential.

Finally, this course will discuss the impacts of new technology, highlighting artificial intelligence and its current and future impacts on the industry. The course will discuss how licensees can take the lead in adapting to these methods and ensure their practices and product are compliant while utilizing alternative models

This course is approved in Pennsylvania for 7 hour of elective appraisal recertification; and 7 hours real estate licensee elective continuing education.



Virtual Course Information:

Once you register and pay for your virtual courses or classes, you will separately receive a receipt for payment; an e-mailed invitation for your session from Polley; and a link to download the digital course materials.

The invitation will contain a link to the session itself in the form of a 9-or-more digit number called a Meeting ID. When you join a meeting, you are prompted to provide the Meeting ID. You'll also receive a pass code that you'll be asked to type in to authenticate your attendance.



Required materials:

Students must have a device with a web browser or application that can support the Zoom software. They must have ability to use either an internal or external camera, microphone, and speaker with their device. Camera must be able to remain on throughout course. No specific web browser required, as long as browser is up-to-date. Zoom application is a free download. Students will need an e-mail address; PDF reader, and reliable Internet connection, all of which are student-provided.

Participant materials will be sent to participants digitally. Students must have ability to either view materials digitally throughout the course or students may opt to print a copy of materials for their personal use. If you would like us print and ship you materials, there is a printing fee of $8; shipping and handling fee of $6; and you must have registered in NO LESS than 10 days prior to the course.


Course Completion Requirements:

There is no grade for this course, as continuing education is completion-only in the state of PA. There are, however, periodic polling, quiz, and small group sessions that are mandatory for participation. Failure to participate in any or part of this course for any reason will be noted and those who do not meet the minimum attendance will not meet completion requirements, and therefore will not be issued a transcript.

Your camera must be on for the entire session and you must stay within view of the camera throughout. If your visual is lost for five minutes, you will be prompted to return via video prompt. If you do not return within five additional minutes (10 minutes total), you will be removed from the session. You may attempt to re-enter the session when you return, and as long as you are still within the required attendance range for the course (State law mandates a 90% attendance threshold - No more than 21 minutes for 3.5 hours; No more than 42 minutes for 7 hours). Failure to meet this requirement will result in course incompletion and is not subject to refund or transfer.

All common expectations and behaviors of an in-person class remain intact for the duration of your course. This type of learning provides a wonderful flexibility that should not be abused. We will not tolerate disruptive behaviors during class, nor allow any behaviors that would not be considered appropriate in a conventional brick and mortar classroom, including but not limited to: drinking alcohol, disparaging students or staff, nudity, or driving a car while on a class session.

A Course Survey also is required for completion of this course:
- Survey link will be sent to students by instructor through Zoom at the end of instruction.
- This survey IS REQUIRED and must be completed to receive your transcript.