Useful Books for Real Estate Appraiser Practical Training ① (with Application Example PDF)

A book I couldn't let go of during my practical training, and still can't now that I'm an appraiser.

In this post, I'd like to introduce a book that I felt was indispensable when I was a practical trainee. In fact, this book is still very useful even now that I am an appraiser.

The content is sure to be useful for both practical trainees and those who have already become appraisers, so please be sure to read it to the end!

During your practical training, when you are creating an appraisal report for general field exercises, etc.,How should I evaluate this?Have you ever worried about that?

I had many worries during my practical training, soI have experience purchasing multiple books related to appraisal and reading through them..

Based on that experience, I decided to write this article because I wanted to introduce a few books that might be helpful to trainees who are struggling just like I was.

The book I found most useful

"Land Price Comparison Table, 7th Revision"

Some of you may already know it, but if you don't have it, please read on. I am sure that having this book on hand will be useful during your practical training period.

It is especially useful when creating appraisal reports for general field exercises, etc..

When applying the sales comparison approach to determine land prices, when comparing factors, have you ever worried abouthow much of a difference rate you should applyregarding regional factors and individual factors?

When you are worried, it is fine to consult with your supervising appraiser to decide on the difference rate, but if you consult them every time without having given it any thought, even a usually kind supervising appraiser might start to change their expression.

Therefore, I would like to recommend this "Land Price Comparison Table".

"Land Price Comparison Table" is a book createdbased on the theory of real estate appraisal standardswith the participation of appraisal experts such as real estate appraisers.

Given that it was originally created by the National Land Agency (now the Ministry of Land, Infrastructure, Transport and Tourism) and is also used by the national and local governments when evaluating land, it can be said that this book issomething you can trust.

How to use the book

This booklists the difference rates for regional factors and individual factors for each land use zone,such as residential, commercial, industrial, and prospective residential land, which was very helpful when considering difference rates in general field exercises.

I used this Land Price Comparison Table myself during my practical training, and I have heard that many other trainees around me also owned and used it.

Also, in the final examination (oral examination), if you are asked, "What is the basis for this difference rate?", it is good to answer, "referencing the Land Price Comparison Tableand considering the actual conditions of the area..."

Furthermore, since I still use it now that I am a real estate appraiser, although it is a slightly expensive book, considering that it is a book I will be using for a long time to come, I think"I'm glad I bought it while I was a trainee.".

As such, this is a book I can recommend to those currently undergoing practical training, so I hope you will consider purchasing it and find it useful for your training.

Books that are convenient to have as a set

As a book that explains the contents of the 'Land Price Comparison Table' introduced this time in an easy-to-understand manner, there is a book called 'Guide to the Land Price Comparison Table, 7th Revision'.

The 'Guide to the Land Price Comparison Table' provides explanations and calculation examples for each condition related to regional factors and individual factors, allowing you to deepen your understanding of the 'Land Price Comparison Table'.

I also owned this book and used it for general practical training and preparation for the final examination.

If you are interested, please check out this book as well.

Bonus usage example PDF

When I was a practical trainee, I would examine the disparity rates while looking at the Land Price Comparison Table when comparing transaction cases, and I created 'judgment criteria' related to disparity rates.

I have created a sample (PDF) of those 'judgment criteria' this time. I have attached it as a bonus, so please feel free to use it as a reference when utilizing the Land Price Comparison Table.

Supplementary note

The 'Land Price Comparison Table' introduced here serves as a judgment criterion for determining appropriate prices when the national or local government acquires land, and it was created with the intention of being used by 'general staff members who are not real estate appraiser experts'. In actual practice, it is mainly used for land valuation during loss compensation.

In other words, the disparity rates, etc., in the 'Land Price Comparison Table' are not absolute, although they may be used as a reference in appraisal evaluations prepared by 'expert real estate appraisers'.

Also, the 'Land Price Comparison Table' and the 'Guide to the Land Price Comparison Table' contain long passages, but in my case, the thought of trying to read both of these books in their entirety was enough to make me feel overwhelmed, so I did not read all the text, but instead only read the parts I was interested in. As a practical trainee, I think that way of using them was sufficient.

By the way, it seems that books related to real estate appraisal often go out of print before you know it, so I recommend purchasing them early if you are interested.

(I am also looking for a book I want, but it is out of print, and when I looked for a used copy online, it was about three times the list price, which is a problem.)

That is all for this time.

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