Highest and best use determines the most profitable legally permitted use of a property. Learn the 4 tests appraisers apply and what to expect on the real estate license exam.
The income capitalization approach estimates property value based on the income it generates using cap rate or GRM formulas. Learn how it works and what to expect on the real estate license exam.
The sales comparison approach estimates property value by comparing recently sold comparable properties. Learn how adjustments work and what to expect on the real estate license exam.
Appraisal methods determine the estimated market value of real property using standardized methodologies. Learn the 3 approaches to value and what to expect on the real estate license exam.