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Lianna Ayala
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(858) 292-7324  

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Enrollment in some classes may be limited in order to comply with Social Distancing recommendations in place at the time of the offering.

Advanced Market Analysis and Highest & Best Use

 

February 23, 2026
8:00 AM - 5:00 PM
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California Department of Transportation District 11
4050 Taylor St
San Diego, CA 92110
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Combining the analytical processes of market analysis, highest and best use, and income valuation, this course is intended for those who have taken and passed the General Appraiser Market Analysis and Highest & Best Use course and have a thorough understanding of the mathematical and financial principles necessary to perform appraisals of income-producing properties. Building on the Level B marketability analyses that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability analysis using fundamental analysis and study several real estate markets in a fictional city. You’ll explore the economic base of the fictional city, which serves as the subject and example of both physical and economic forces that affect all communities and consequently all real estate. You’ll also work through four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that demonstrate both the power of fundamental market analysis and its application to highest and best use decisions.

 

Course Objectives
  • Recognize the definitions of market analysis, market, market study, and marketability analysis.
  • Recognize how market analysis applies to the determination of highest and best use.
  • Identify ways of determining financial feasibility.
  • Recognize applications of market analysis to the valuation process.
  • Identify ways that social, physical, economic, and institutional support systems in urban areas ultimately determine land use.
  • Identify the six basic steps used to conduct a marketability analysis.
  • Complete rating grids about a subject property’s characteristics to draw conclusions about its competitive position.
  • Recognize procedures for delineating a subject property’s market area.
  • Forecast demand for office, apartment, condominium, retail, and industrial space.
  • Conclude supportable demand for various property types.
  • Calculate residual demand for various types of space.
  • Forecast subject capture and draw conclusions about a property’s market rent and occupancy rate over a given time frame.
Course Details

Program Overview:
Table of Contents and Overview
Course Schedule

Assignments:
Yes. A pre-class, 2-hour online session.

Equipment:

  • A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
  • You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.
  • For more information and a free review, click here.
  • For additional help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
  • HP-12C calculator User's Manual.

Additional Information:

Course Materials Include:

  • Course Handbook (597 pp.)
  • Self-Study Booklet (39 pp.)
  • Pre-Class Download (18 pp.)
  • Community Profile (16 pp.)
  • Suggested Solutions (192 pp.)

Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; and course equivalencies.

Designated members, Candidates for Designation, and Associate Members will receive the discounted AI Price for the MAI designation courses: Advanced Income Capitalization, Advanced Market Analysis and Highest & Best Use, Advanced Concepts & Case Studies, and Quantitative Analysis. All others will pay full price. For more information on how to become a Candidate for Designation, click here.

Important Note: Mandatory Diagnostic Test
Before enrolling in this or any other MAI designation course, you must take a diagnostic test. The Excel diagnostic tests your mastery of solving appraisal problems using spreadsheets. This diagnostic test was intentionally designed to be challenging and ensure participants have adequate Excel skills before taking MAI designation courses. For more information, check out the Diagnostic FAQ.

Excel is used extensively in the MAI designation courses; it is highly recommended that you know how to perform the necessary appraisal functions in Excel to succeed in this course.

The diagnostic test is free and can be taken at any time on your personal computer. To register for the test, please click here.


This course implements a blended learning approach, which includes:

  • A pre-class, 2-hour online session
  • 30 hours of traditional classroom education
  • A 3-hour exam on the 5th morning
You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.

Requirements:

  • Microsoft Excel 2007 or 2010 must be loaded and operational (external mouse recommended). (You may use other spreadsheet programs, but those programs won’t be supported in class; demonstrations will be done in Excel.)
  • Do not enroll expecting to be taught how to use Excel.

                   

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