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click HERE to return to table 0f contents Education By Peter MacLellan, AACI BUSI 499 Guided Case Study: tips and tricks n old adage goes – FAIL TO PLAN – PLAN TO FAIL. A BUSI 499 Guided Case Study must meet university rigor and Appraisal Institute of Canada (AIC) Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) . Hence, it is a comprehensive blend of demonstrating detailed market analysis, research and current theory. Guided Case Study courses extend over months, requiring organization and dedicated work space. Therefore, if your only personal space is the dining room with files on the table, maps on the wall and papers on the floor, do not plan a dinner party until you are finished. Often, Candidates select the wrong subject, picked for expediency and without researching the availability of data. The requirements of the Guided Case Study provide much flexibility. The Candidate can pick any effective date up to five years prior to the date he or she registers their property. Plan ahead. Before registration: (1) search land and improved sales to find the best sales; (2) pick sales requiring the least amount of adjustment and a time frame with sufficient market data to support the approaches to value, as well as required adjustment information; and (3) pick the subject and effective date. Step 2 is to prepare file folders, labeled to coincide with the lesson assignments. This is in the interests of organization and planning ahead. Step 3 is to familiarize yourself with the requirements of each lesson assignment. Throughout the workbook there are numerous alerts in blocks and titled Planning Ahead, Hints for Success, WARNINGS! An effective technique is to photocopy those alert pages and put them in the appropriate file folder, so they are front and centre before you begin that lesson assignment. A Another old adage is the KISS rule (Keep It Simple Stupid). Scan the lesson assignments and start collecting data for each assignment on a day- to-day basis including maps, plans, re-sales, rental and expenses, etc. During your daily activities, be conscious of opportunities to speak with contractors, assessors, municipal staff, vendors, and purchasers or to obtain maps and documents. When working on another project and the opportunity to ask questions about your subject is there, what better time to ask a question or obtain market data for your subject? Put it in the folder. The grader’s role is not to agree or disagree with your conclusions. A grader’s role is to look at the support data you provide and rationale applies. There must be sufficient information, analysis and explanation for a reader to come to a reasonably similar conclusion. Neither is it a grader’s role to substitute as a mentor or teacher. At this point, it is presumed that the Candidate has had both. The grader will assist with suggestions, comments and guidance. Hence, if there are any misunderstandings, the onus is on the Candidate to ask for clarification. The Guided Case Study report is, for most, one of the most comprehensive appraisal reports he or she will complete. There is no room for opinion of the Candidate that is not market supported. On a final note, for those not used to writing reports, it is an absolute must that the principles of clarity, theory, persuasiveness, as well as being grammatically correct are demonstrated. Many times, a writer can better convey logic and process by including charts and tables, rather than a long, rambling narration. Every market and individual’s style are different and that is understood. The standards and expectation are universal. Canadian Property Valuation VOLUME 56 | BOOK 3 | 2012 Évaluation Immobilière au Canada 41
