Course Instructor: Sue Davison, CTA, SCGREA

Fall 2025 – (30 Hours w/optional 3-hour exam) NJ Recert Credits 30

7 EVENING CLASSES 4 HOURS plus 1 EVENING 2 HOUR CLASS: 4-hour classes

October 2,6,7,9,14,16,20 (5:00 -9 PM) plus 2.0-hour class October 23 (5:30 – 7:30 PM).

IAAO Course 102 – Income Approach to Valuation

This course provides students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant or improved properties by the income approach. The course covers real estate finance and investment, capitalization methods and techniques, analysis of income and expenses to estimate operating income, selection and development of capitalization rates, and application of the approach. This same information is taught to real estate appraisers on the private side by the Appraisal Institute. IAAO courses qualify you to take higher appraisal education courses.

Recommended: Property Assessment Valuation (PAV) textbook (3rd edition also used in Course 101)

Registration: Course 102 Class is limited to 10 students. Mail Registration and Payment to NJIAAO address below. Registration Ends on September 11,2025.

Student Reference Manual Included in Registration Fee. Please note on Registration Form if you are purchasing Text PAV for an additional $50