Real Estate Appraisal

The Real Estate Appraisal Certificate of Achievement is designed to provide students with the knowledge, skills, and abilities to obtain an entry-level position as a real estate appraisal trainee, appraisal assistant, or property valuation assessor. The Bureau of Real Estate Appraisers has approved these courses for credit towards an appraisal license. 

Program Goals

The Real Estate Appraisal Certificate of Achievement is designed toprovide students with the knowledge, skills, and abilities to obtain anentry-level position as a real estate appraisal trainee, appraisal assistant,or property valuation assessor. Students who complete the program will be ableto:

·       Apply the basic principles and procedures used in valuingresidential and commercial properties.

·       Use the appropriate method to determine value for a specific property,estimate gross income, calculate expenses for income producing properties andmeet Appraisal Qualifications Board (AQB) licensing requirements for fillingout forms and completing the USPAP (Uniform Standards of Professional Practice)Forms.

·       Understand the various real estate valuation principles of realestate appraisal including sales comparable approach, income capitalizationapproach, and the cost approach.

·       Determine the various license classifications of appraisers andtheir limitations (licensed residential appraiser, certified residentialappraiser, and certified general appraiser).

·       Ethical obligations of real estate appraiser, standards and bestpractices.

ProgramObjectives

Theprogram will provide students with the knowledge and skills to:

• Conduct formal appraisals of real property or land before it is sold, mortgaged, taxed, insured or developed.
• Evaluate properties to establish market values and property ratings using internal and external sources.
• Prepare reports that fully explain assessment results and outline methods used.
• Document procedures and backup data using appraisal cloud computing platforms such as WinTotal.
• Properly complete property valuation using USPAP (Uniform Standards of Professional Practice) Forms and guidelines.
• Keep abreast with all current regulations, standards, and best practices.
• Determine physical characteristics are correctly identified, including land data, physical condition, quality and obsolescence of the property.
• Demonstrate an understanding of real estate transaction law such as Regulation Z, usury laws, disclosure requirements, maximum fees and charges allowed under governing law, agency relationships, advertising law, and the ethical obligations that pertain to real estate appraisers in these aspects.

ElCamino College’s real estate program is one of the oldest programs at thecollege. The department has a strong reputation of producing high-qualitystudents with the knowledge, skills, and abilities to succeed in the industry.Over the last two decades, with the expansion of the internet, many privateschools began offering real estate courses entirely online, which meet thestate requirements. However, El Camino College has the expertise andreputation to provide a superior alternative to those private programs.

Basedon the Real Estate Department's 2019 program review, El CaminoCollege has seen increasing enrollment in our real estate courses over the lastfive years. The department had an all-time high of 453 enrolled students in the2018-2019 academic year. For comparison purposes, the 2014-2015academic year reflected an enrollment of 230 students. El Camino College’s realestate program ranks sixth in the entire state based on enrollment numbers,and is only 88 students shy of ranking first in the state.

Whiledepartment enrollment has grown, the program offerings have remained static.Based on our program review, our current offerings do no fully align with theindustry and the demand for fully qualified real estate professionals. Thedepartment has only offered one associate degree and two certificate programs,which have not been aligned to changes in the industry or adjusted tomeet the strong labor demand for real estate professionals.

Currently,there is high demand for entry-level to middle-skilled level real estateprofessionals.  The Los Angeles/Orange County Center ofExcellence for Labor Market Research recently indicated that the labormarket demand for the real estate industry is not being met by the currentsupply of community college programs. Based on the COE data,the department’s advisory committee recommended that the departmentexpand the number of certificates offered in the program to add eight newspecialized certificates to better prepare students for future careers invarious real estate specializations.  

ThisCertificate of Achievement – Real Estate Appraisal, will prepare morestudents for real estate specialization positions and help meet the labordemand in the region.  This certificate is partof the greater expansion of the real estate program at El CaminoCollege.  In addition, this certificate will support studentswho aspire to become real estate professionals by encouraging them tocontinue their education and obtain specialized certifications.

Thisprogram has been endorsed by the COE.