KA6023 - Commercial Real Estate Appraisal

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What will I learn on this module?

In this module you will develop existing knowledge gained in previous years building on valuation techniques and critically applying these skills to current market scenarios. You will consider the appraisal of real estate and how this applies to the profession as a whole and how to advice a client/stakeholder appropriately through the RICS Valuation – Professional Standards and other professional requirements such as the International Property Measuring Standards. You will also consider the current issues facing both the profession and real estate markets. This will prepare you for a career as a Chartered Surveyor and build towards the RICS Assessment of Professional Competence (APC) pathway.

Within Commercial Real Estate Appraisal you will study a range of topics including:-

• Valuation/appraisal methodology and applying to different scenarios
• Secured lending valuations/appraisal
• Asset valuations/appraisal
• RICS reporting and advising clients
• Statutory valuation
• Modern methods of valuation and appraisal
• Using IT software for Real Estate appraisal

Throughout this module you will develop academic and professional skills relating to the use and analysis of data, understand real estate markets and the impact on appraisal, effective communication and be able to advice clients/stakeholders in accordance with RICS governance.

How will I learn on this module?

You will learn through interactive workshops and seminars. You will be presented with core material throughout the workshops and you will be given the opportunity to explore the theories and issues in greater depth through worked examples and discussion upon which you will be provided with formative feedback.

All material will be available to you through eLearning Portal (Blackboard). You will also be provided with extra support for assessment through the use of discussion board on eLearning Portal.

You will also be given the opportunity to learn about IT software for example Argus Investor and KEL investor which are used widely in Real Estate practice.

If you are in employment your workplace will be the main learning environment, in effect acting as a framework for commercial real estate appraisal. However, tutor support will be available via drop-in sessions throughout the module study period. If you are in employment it is recognised that there is the need for modes of blended learning delivery, experiential assessment, and opportunities to combine work and study through independent study, embedded learning opportunities, and relevant communications technologies. Lecture capture will be used to elaborate on the content contained in any teaching material along with audio recording and notes to support presentations on key topics.

How will I be supported academically on this module?

Support will include formative feedback from tutors during interactive workshop and seminar sessions. In addition the module tutor will respond to any questions posed on discussion board on eLearning Portal in relation to coursework and examination revision in order that the whole group can benefit.

If you are in employment your workplace will be the main learning environment, however, tutor support will be available via drop-in sessions throughout the module study period. The eLP, telephone and email will be used as a means of communication once the initial briefings have taken place and work-based visits will be made by tutors if appropriate.
If you are in employment your workplace will act as a framework for construction technology to develop your skills and knowledge.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to achieve?

Knowledge & Understanding:
• MLO1: Critically analyse data and reflect relevant market determinants in order to make sound judgements on value
• MLO2: Select, evaluate and apply appropriate valuation methods and skills applicable to a range of property scenarios
• MLO3: Analysis of valuation outcomes, the devising of appropriate solutions and the interpretations of findings

Intellectual / Professional skills & abilities:
• MLO4: Reflect on and communicate professionally

Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):
• MLO5: Demonstrate the capacity for independent, evidence based thinking and decision making

How will I be assessed?

Formative assessment: will be an integrative part of the workshop sessions and directed work. You will be expected to participate in group discussions and carry out directed tasks upon which you will receive formative feedback.

Summative assessment: this module is assessed by a coursework and an exam.

The coursework will assess your ability to undertake a secured lending valuation in accordance with the RICS Valuation – Professional Standards (2014). The report is worth 50% of the module and assess MLO1, MLO2, MLO4, MLO5

The examination will assess your individual intellectual understanding and application of valuation skills and the ability to evaluate and apply theories, concepts and techniques. The exam is worth 50% of the module and assess MLO1, MLO2, MLO3, MLO5.

Coursework will be submitted, assessed and feedback provided online.

Pre-requisite(s)

BE1354 and BE1359

Co-requisite(s)

None

Module abstract

This module aims to develop your understanding of Real Estate Appraisal and Valuation and how it is important in both the built environment profession and the business world. Topics explored include valuation methodologies; reporting and advising clients in accordance with RICS guidance, loan security, statutory and asset valuation; modern methods of valuation and using IT software in valuation practice. Learning is through interactive workshops in which you will explore the theories and issues through worked examples and discussion, you will be provided with formative feedback throughout the sessions in order that you are able to test your knowledge and understanding as the module progresses. Assessment is through a coursework and an exam both are supported through workshops and access to discussion board where any queries are answered by module tutors. Your engagement with the module and its assessment will assist in the development of the knowledge, skills and attributes that are valued by employers.

If you are in employment your workplace will act as a framework for commercial real estate appraisal to develop your professional skills.

Course info

Credits 20

Level of Study Undergraduate

Mode of Study 5 years part-time

Department Architecture and Built Environment

Location Ellison Building, Newcastle City Campus

City Newcastle

Start September 2018 or September 2019

Current, Relevant and Inspiring

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