FAQs on the New Relocation Appraisal Training Program and Directory Notation 

(Please Note: The “Worldwide ERC® Appraisal Trained” notation is not a designation.  It simply indicates that someone has taken the Relocation Appraisal Training Program.)

Q.1 What does the “new” Relocation Appraisal Training Program cover?
Q.2 Why  was the course revised?
Q.3 How many hours is the program?
Q.4 Must I complete the entire training in one sitting?
Q.5 How much time do I have to complete the course once I register?
Q.6 Is there an exam associated with the program?
Q.7 Is there a certificate offered upon completion of this program?
Q.8  How much does the new Relocation Appraisal Training Program cost?
Q.9 As an appraiser member, why isn’t the cost of this program included in my membership fee?
Q.10 Does the course qualify for Certified Relocation Professional (CRP®) recertification credit?
Q.11 Does the course qualify for continuing education credit at any of the appraisal associations?
Q.12 Does the course qualify for state recertification continuing education credit?
Q.13 Is Worldwide ERC® seeking state recertification credit for the new program?
Q. 14 As an appraiser member, will I get a notation in my Directory listing that indicates that I have taken this training?
Q.15 I took the old Relocation Appraisal Training Program.  Will the notation in the Directory relating to that program still stand?

Q.1 What does the “new” Relocation Appraisal Training Program cover?

A. The new program is a three-module online course that covers the following:

                Module 1: Concepts in Relocation Appraising

                Students will learn to:

·         Explain the intended use and purpose of the relocation appraisal in the context of the employee relocation process.

·         Describe the defining components of Anticipated Sales Price.

·         Distinguish between the relocation appraisal and the mortgage appraisal.

·         Identify various client directives and how they should be addressed in the appraisal report.

·         Explain the scope of the relocation appraisal.

·         Explain what assumptions should be made concerning liens and special assessments in the relocation appraisal.

·         Accurately calculate gross living area of a property for the relocation appraisal report.

·         Accurately apply the comparative ratings of “excellent,” “good,” “average,” “fair,” and “poor.”

·         Identify the types of exhibits required in a relocation appraisal report.

·         Identify situations that represent a conflict of interest for the relocation appraiser.

·         Describe the customer service procedures for conducting the relocation appraisal.


Module 2: The Worldwide ERC® Summary Appraisal Report: An Overview

Students will learn to:

·         Identify and record the appropriate information that should be addressed on pages 1 – 7 of the Worldwide ERC® Summary Appraisal Report.

·         Recognize the correlations among different sections of the report on different pages of the report.

·         Recognize the need for consistency between sections.

·         Recognize how to select competing listings and comparable sales.

·         Explain the forecasting adjustment and how it is applied to the Sales comparison Analysis grid.

 

Module 3: Developing the Market Change and Forecasting Adjustments in the Relocation Appraisal

Students will learn to:

·         Understand the market change adjustment and how it is calculated.

·         Understand normal marketing time and how it is calculated.

·         Understand the forecasting adjustment and how it is calculated.

·         Apply the market change and forecasting adjustments in the relocation appraisal.

 

Q.2 Why  was the course revised?

A.  Worldwide ERC® introduced a new Summary Appraisal Report in the summer of 2010.  (The last revision of the form was in 2003, which was what the previous training program addressed.)

Q.3 How many hours is the program?

A. Each of the three online modules is approximately one hour in length.

Q.4 Must I complete the entire training in one sitting?

A. No.  However, we advise that you allow enough time – to complete  at least one entire module, which should take you about one hour (as each module is approximately one hour in length).  Please note that if you log out before completing the module you are working in, the program will start you back at the beginning of that module the next time you log in, and you will need to advance through the course  manually to find the place where you left off.

Q.5 How much time do I have to complete the course once I register?

A.  You have 90 days to complete the course from the time you register for the course.  In addition, those who purchase the training may take the course at a time most convenient for them as it is available at any time, day or night, during the 90 days. .

Q.6 Is there an exam associated with the program?

A. No.

Q.7 Is there a certificate offered upon completion of this program?

A. Yes.  Students must complete an evaluation of the course and attest to having completed the  entire course  in order to receive their certificate of completion.

Q.8  How much does the new Relocation Appraisal Training Program cost?

A.  The three-hour course is offered for a special price to Worldwide ERC® members for $125 ($195 for non-members). 

Q.9 As an appraiser member, why isn’t the cost of this program included in my membership fee?

A.  Your membership fee comes with a variety of benefits including: your listing in the online and print versions of the Worldwide ERC® Directory; a copy of the printed Directory; monthly subscription to MOBILITY Magazine; the Express newsletter; free access to the Unique Property Database; member access to the web site; representation on the Appraisal Foundation Advisory Council; and member discounts on publications, conferences, training and webinars.  The Relocation Appraisal Training Program has been developed in such a way as to minimize the cost to members. 

Q.10 Does the course qualify for Certified Relocation Professional (CRP®) recertification credit?

A. Yes.  Recipients holding the CRP® designation who complete the entire program will earn three (3) hours of CRP® recertification credit.

Q.11 Does the course qualify for continuing education credit at any of the appraisal associations?

A.  You must check with your appraisal association(s) to determine if it will be approved for continuing education.

Q.12 Does the course qualify for state recertification continuing education credit?

A. No, this course is not approved for state continuing education. 

Q.13 Is Worldwide ERC® seeking state recertification credit for the new program?

A. Application for CE credit in all states and the ongoing tracking necessary for all participants requires significant financial and staff resources, which would drive up the cost of the training to prohibitive  levels.

Q. 14 As an appraiser member, will I get a notation in my Directory listing that indicates that I have taken this training?

A.  Yes.  The new notation will be “Relocation Appraisal Trained - 2010.”

Q.15 I took the old Relocation Appraisal Training Program.  Will the notation in the Directory relating to that program still stand?

A. Yes, but we will be retiring that notation on December 31, 2011.  The new form and associated guide were introduced in the summer of 2010.  The new course relates to the 2010 form and guide.  The previous training addressed the 2003 version of the form which has already been retired..  The Relocation Appraisal Trained - 2010 notation is an indication to relocation management companies, appraisal management companies and corporations that you have had training on the 2010 version of the Worldwide ERC® Summary Appraisal Report.