Course 101 - Online Cohort Version

The Fundamentals of Real Property Appraisal is designed to provide you with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant and improved properties. This course concentrates on the skills necessary for estimating the market value of properties using two approaches to value: the cost approach and the sales comparison approach.

Course Dates & Pricing

The course is limited to 30 students and costs $499 for IAAO members and $725 for non-members. As with all continuing education programs, each individual state must approve a program for pre-licensure and/or continuing education credit.

2019 Dates:
September 30 - November 17, 2019


Online Cohort Typical Schedule:

  • Week 1 (Monday): Orientation & Chapter 1 open
  • Week 2 (Monday): Chapter 2 opens
  • Week 3 (Monday): Chapter 3 opens
  • Week 4 (Monday): Chapter 4 opens
  • Week 5 (Monday): Final Exam opens
  • Week 6 (Sunday): Last day to complete exam and access course material
  • You will receive emails from the IAAO each week letting you know that your course material is available as well as reminders about the schedule. Note. Please pay close attention to the final date for the exam and course material access provided in the weekly IAAO emails so that you can complete the exam within the allotted time period. 

  ​Online Cohort Cancellation Policy: 

  • You must cancel a course in writing. To cancel a course, please send an email to 
  • If your cancellation request is received ten or more days before the orientation start date, IAAO will remove you from the class and refund the registration fee, less a $50 cancellation fee.  
  • If the cancellation request is received nine or less days before the orientation start date, no refund will be given. Course 101 Online classes are offered on a regular basis so if you can complete a one-time transfer of your registration to another class start date that is more convenient for your schedule.
  • If the cancellation request is received on or after the orientation start date, IAAO will not refund the registration fee and there is no longer an option to transfer to another class.
  • IAAO reserves the right to cancel a class up to five days prior to the orientation start date. Should IAAO cancel a class, you will be notified and given the option of transferring your registration to another class start date, or receiving a refund of their course registration fee.



For a list of frequently asked questions and answers about taking an Online Cohort Course, please visit the FAQ page!

Instructional Methods

Instructional methods utilized in Course 101 Online include instructor videos, narrated power point presentations, assigned readings and discussion boards, exercises and frequent checks for understanding.

Course Audience

This course is designed for professionals who estimate the value of real property or any individual involved or interested in Assessment administration duties. This is a fundamental course and there are no prerequisites.

Course Materials

The following reference material is provided by IAAO:

  • e Version of the Student Reference Manual
  • e Version of Property Assessment Valuation Textbook (PAV)

Required Technology

  • Computer Web Camera with Microphone (Equipment will be required for the exam)
  • A calculator is required
  • Current version of Google Chrome, Firefox, or Safari
  • Current version of Adobe Flash
  • If accessing the course using a mobile device, it must be a large-screen device such as an iPhone 6+ or iPad

Course Goals

  • Answer multiple choice questions related to the application of theory and principles of appraisal practice in estimating accurate market values.
  • Apply the direct sales comparison approach to determine the land value in a single-property appraisal online task.
  • Develop the cost approach (estimating land/site value, cost of improvements, and total depreciation) for an online case study.
  • Estimate market value using the sales comparison approach by establishing and posting a market data grid to the course discussion board.