Online Course 802: An Introduction to the Cost Approach to Value. The cost approach provides a value indication that is the sum of the estimated land value and the estimated depreciated cost of the building. Also, the cost approach is based on a comparison between the cost to develop a property and the value of the existing property or similarly developed property. The course opens with a general review of real estate terms and concepts. Following the review, it covers various aspects of replacement and reproduction costs. Purchasing this course will allow 180 days access starting from the date of purchase. Only the person purchasing the course will be allowed access. You will receive an email after purchase with a link to the course. You may also access the course through "My Account". It is worth 10 hours of continuing education credit.