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Exam Code: TA-002-P Practice exam 2023 by Killexams.com team
TA-002-P HashiCorp Certified: Terraform Associate 2023
Title: HashiCorp Certified: Terraform Associate (TA-002-P)

Test Detail:
The HashiCorp Certified: Terraform Associate (TA-002-P) exam is designed to validate the knowledge and skills required to effectively use Terraform to automate infrastructure provisioning and management. This certification is intended for professionals who work with Terraform and are responsible for designing and implementing infrastructure as code solutions.

Course Outline:
The HashiCorp Certified: Terraform Associate course provides participants with a comprehensive understanding of Terraform and its capabilities. The following is a general outline of the key areas covered in the certification program:

1. Introduction to Infrastructure as Code (IaC) and Terraform:
- Understanding the principles and benefits of IaC
- Introduction to Terraform and its use cases
- Terraform installation and basic configuration

2. Terraform Configuration Language (HCL):
- Learning the syntax and structure of HCL
- Declaring and managing resources using HCL
- Using variables, modules, and data sources in Terraform configurations

3. Terraform Workflow and Commands:
- Understanding the Terraform workflow and state management
- Initializing and planning Terraform configurations
- Applying and destroying infrastructure using Terraform

4. Terraform Providers and Modules:
- Exploring Terraform providers and their configuration
- Leveraging community and custom modules in Terraform
- Working with remote and local modules

5. Terraform Best Practices and Security:
- Implementing best practices for Terraform code organization and version control
- Applying security practices for protecting sensitive information
- Managing Terraform workspaces and environments

Exam Objectives:
The HashiCorp Certified: Terraform Associate (TA-002-P) exam assesses candidates' knowledge and skills in using Terraform for infrastructure provisioning and management. The exam objectives include, but are not limited to:

1. Understanding the Terraform workflow and core concepts.
2. Writing and managing Terraform configurations using HCL.
3. Using Terraform commands for initialization, planning, and applying changes.
4. Configuring and using Terraform providers and modules.
5. Applying best practices and security measures when working with Terraform.

Syllabus:
The HashiCorp Certified: Terraform Associate (TA-002-P) certification program typically includes comprehensive training provided by HashiCorp or authorized training partners. The syllabus provides a breakdown of the syllabus covered throughout the course, including specific learning objectives and milestones. The syllabus may include the following components:

- Introduction to the HashiCorp Certified: Terraform Associate (TA-002-P) exam overview and certification process
- Introduction to Infrastructure as Code and Terraform
- Terraform Configuration Language (HCL)
- Terraform Workflow and Commands
- Terraform Providers and Modules
- Terraform Best Practices and Security
- exam Preparation and Practice Tests
- Final HashiCorp Certified: Terraform Associate (TA-002-P) Certification Exam
HashiCorp Certified: Terraform Associate 2023
HashiCorp Certified: approach
Killexams : HashiCorp Certified: approach - BingNews https://killexams.com/pass4sure/exam-detail/TA-002-P Search results Killexams : HashiCorp Certified: approach - BingNews https://killexams.com/pass4sure/exam-detail/TA-002-P https://killexams.com/exam_list/HashiCorp Killexams : HashiCorp’s software license turns realpolitik

Well, that was awkward. In July I wrote about shifts in the open source licensing landscape, arguing, “It’s not that open source doesn’t matter, but rather it has never mattered in the way some hoped or believed.” The furious backlash was sanctimonious and condemning. But, according to HashiCorp last week, it was also wrong.

For those who missed it, HashiCorp changed the license for its popular open source projects like Terraform and Vault to the Business Source License (BSL). The reason? To push back against “vendors who take advantage of pure [open source] models, and the community work on [open source] projects, for their own commercial goals, without providing material contributions back.” In other words, they needed to block free riders so that they could continue to invest in their products. As they conclude, such free riding isn’t “in the spirit of open source.”

Except that it is.

Every single one of us—including every company on earth—is an open source free rider. That’s nothing new; Tim O’Reilly called it out way back in 2009. But what HashiCorp and other “open source businesses” are trying to do is not to eliminate free riding, but rather to make it a bit less injurious to their ability to invest in the underlying code. For those who think licensing isn’t the answer to this problem, I’ll explain, while also pointing to the opportunity for cloud vendors such as AWS to further their own self-interest while helping the HashiCorps of the world.

Et tu, Hashi?

It used to be easy to pillory companies like Elastic or MongoDB (Disclosure: I work for MongoDB but, fuller disclosure, I’ve been writing about this syllabu for more than 20 years, far longer than I’ve worked for MongoDB.) as being pillaging profit-seekers, trading in open source for a buck when they changed their licenses. This was always a superficial and somewhat silly argument because it didn’t probe the why of such decisions. After all, as RedMonk analyst Steve O’Grady highlights, it’s not obvious that changing licenses has helped, at least in Elastic’s case, and actually may have hurt its revenue. (Serial open source executive Zack Urlocker disagrees with O’Grady’s assessment, but O’Grady’s is absolutely a fair critique.)

So why do it? These are monumental decisions made at the board level of fast-growing public companies. Why on earth would anyone do something as momentous as fundamentally change the software license that paved the way to a company’s success?

Copyright © 2023 IDG Communications, Inc.

 Sat, 19 Aug 2023 09:04:00 -0500 en text/html https://www.infoworld.com/article/3704809/hashicorps-software-license-turns-realpolitik.html Killexams : Certification Requirements

Certification now follows a rolling model for applications and approvals. If you have questions after reviewing this website, please contact cert@nullesa.org or 202-833-8773.

The period of certification lasts for 5 years, retroactive to the first day of the month the application was approved and expiring on the final day of the same month 5 years hence. ESA staff will communicate with you about your status beginning at least 60 days prior to expiration, and will additionally remind you to submit your CEU data on a regular basis.

If you currently hold a certification from pre-2021 and will expire the next June from now, you should recertify in the spring of the year your certification expires; if your certification expired in the previous June, you may still recertify or upgrade.

We allow 2 years’ grace periods to recertify or upgrade, but you will be required to pay a penalty fee if your certification has lapsed beyond that grace period. All recertifications at all levels (except Emeritus) cost $25 for ESA Members and $50 for non-members.

Starting in 2022, the penalty fee is the cost of recertification for each year of lapse, with the first 2 years waived if you recertify within 2 years. In other words:  

0 yr lapsed: $25 for recertify 

1 yr lapsed: $25 for recertify (1 yr of back recertification fees waived)  

2 yr lapsed: $25 for recertify (2 yr of back recertification fees waived)  

3 yr lapsed: $75 for recertify  

4 yr lapsed: $100 for recertify 

Minimum Education Requirements to Apply

Candidates for certification must have completed at least a bachelor’s degree or a higher degree in ecology or a related science. Completed undergraduate or graduate coursework must include the following, totaling 42 semester credit hours. Full requirements include areas of coursework and should include some core topics.

Eligibility per Level

Please use this table for a general overview of requirements; specifics for each category follow below. Following approval of the minimum CEU type requirements by the Board of Professional Certification, this table will list requirements to upgrade as well.

  Degree Requirement Professional Experience (Years)
Ecologist in Training Bachelor’s + 0
Cover Letter Detail: Career aspirations, highlights of research/work to date
—
Associate Ecologist Bachelor’s + 1
Cover Letter Detail: Field work, data skills, understanding of the human dimension in ecological systems
—
Ecologist Bachelor’s + 2 with master’s/doctoral degree; 5 with bachelor’s
Cover Letter Detail: Independent studies, complex data analyses, journal publication, report writing, oral presentations, understanding of the human dimension in ecological systems
—
Senior Ecologist Bachelor’s + 5 with doctoral degree; 10 with bachelor’s/master’s
Cover Letter Detail: Thorough knowledge of ecological theory and application, including the interdependence and impact of humans on ecosystem structure, function, and environmental change; written original contributions of original interpretation of ecological information; technical or organizational competence as evidenced by supervision of projects

Certified Ecologist and Senior Ecologist certification holders who hold that status for at least 10 consecutive years and are no longer working full-time may upgrade to each level’s respective Emeritus/ta designation. Contact cert@nullesa.org to learn more.

  • Professional experience accrues as soon as the minimum education requirements are met (typically with an appropriate bachelor’s degree). Professional experience during graduate studies shall be counted the same as any other professional experience regardless of whether it was undertaken during a degree program such as a master’s or doctoral program.
  • For recertifications, courses completed as part of a graduate degree program (or outside a degree program) may be counted toward continuing education in the appropriate category.
  • If courses during graduate training are used to satisfy the minimum education requirements, professional work experience may be counted after the last such course is successfully completed.
  • Provide an appropriate explanation of time spent in full-time employment (e.g. if working through school, during a gap year, etc.) in your application.
  • Length of experience will be evaluated only up to the application submission date.

Continuing Education

Please note that beginning 2021, all newly certified ecologists are required to complete 44 continuing education units over 5 years to be eligible for recertification or upgrade. Currently certified ecologists will be permitted to recertify or upgrade per their original requirements up to 2025; beginning with 2026, all recertifications and upgrades will require having met the CEU requirements. The ESA Board of Professional Certification approved this framework in January 2021.

Certified ecologists should report their CEU as they are earned, or at least on an annual basis. You can see how to do so here.

Interpretive leeway will be given to participants to identify suitable professional development opportunities per the requirements. ESA is partnering with other scientific organizations and training bodies to recommend opportunities for CEU in addition to the content that ESA provides — see the directory. Participants are encouraged to share ideas with staff as well.

Ethics and Professional Conduct

All ecologists certified by ESA shall conduct their activities in accordance with the ESA Code of Ethics and with the highest standards of professional conduct and personal honor.

Application Materials

You can review the full application requirements here.

Here are additional details about the requirements for each certification level.

Ecologist in Training

This category is for graduating students who have met the education requirements for ESA certification but do not have the required professional experience for the current certification categories. The basic requirement is:

  • A bachelor’s or higher degree in ecology or a related science from an accredited college or university.

A holder of the Ecologist in Training designation is encouraged to use the full term, “Ecologist in Training,” on business cards or in official signatures, but may use the initialism “EiT” if space limits require.

Associate Ecologist

This category is for ecologists in the early stages of their career. Course requirements may be met with post-baccalaureate courses from an accredited college or university, but professional experience may not be counted until all coursework requirements for certification are met. The basic requirements are:

  • A bachelor’s or higher degree in ecology or a related science from an accredited college or university.
  • At least one year of post-graduate professional experience gained in the performance of research or data analysis demonstrating technical competence in current application of ecological principles and/or theory.
  • Relevant experience should have been gained within the five years preceding application at this level. The Board will consider exceptions on a case-by-case basis; applicants whose relevant experience falls outside the five years should provide a detailed explanation of their professional experience outside of that time window in their cover letter.

A holder of the Association Ecologist designation is encouraged to use the full term, “Certified Associate Ecologist,” on business cards or in official signatures, but may use the initialism “CAE” if space limits require.

Ecologist

This category is for established professional ecologists.

  • A master’s degree or higher in ecology or a related science from an accredited college or university and at least two years of full-time equivalent professional experience after degree; OR at least five years of professional experience in addition to the education requirement for Associate Ecologist.
  • In addition to the one-year experience requirement for Associate Ecologist, candidates must also demonstrate the ability to perform professional work in ecology, as outlined in the table above. This professional work must follow completion of the education requirement for qualification at the Ecologist level.
  • Relevant experience should have been gained within the five years preceding application at this level. The Board will consider exceptions on a case-by-case basis; applicants whose relevant experience falls outside the five years should provide a detailed explanation of their professional experience outside of that time window in their cover letter.
  • Note that, beginning in 2022, Ecologist in Training or Associate Ecologist certification holders who achieve a relevant doctoral degree may upgrade to the Ecologist level without completing other CEU for that 5-year certification period.

A holder of the Ecologist designation is encouraged to use the full term, “Certified Ecologist,” on business cards or in official signatures, but may use the initialism “CE” if space limits require.

Certified Ecologist Emeriti

This category is for previously Certified Ecologists who are no longer working full-time. The requirements are:

  • Previously certified as a Certified Ecologist for at least 10 years, with no more than a total two-year lapse between periods of certification.
  • May no longer be employed full-time.
  • DO NOT USE THE APPLICATION FORM for this designation. Contact cert@nullesa.org if you are interested.

If the Certified Ecologist Emeritus/ta desires to depict certification on any official document, they are encouraged to use the term “Certified Ecologist Emeritus/ta.” This is meant as an honorary lifetime recognition and does not imply continued professional status. The initialism “CEE” is acceptable if space limits require.

Senior Ecologist

This category is for professional leaders in ecology who have established a track record of excellent contributions to the field in applied and analytical environments.

  • A doctoral degree in ecology or a related science from an accredited college or university and at least five years of full-time equivalent professional experience after degree; OR at least 10 years of professional experience after completion of the minimum education requirements for certification (qualifying bachelor’s degree or completion of required coursework in post-baccalaureate courses).
  • Course requirements may be met with post-qualifying degree (post-baccalaureate or post-master’s) courses from an accredited college or university, but professional experience may not be counted until all coursework requirements for certification are met.
  • Relevant experience should have been gained within the five years preceding application at this level. The Board will consider exceptions on a case-by-case basis; applicants whose relevant experience falls outside the five years should provide a detailed explanation of their professional experience outside of that time window in their cover letter.
  • Note that, beginning in 2022, Ecologist certification holders who achieve a doctoral degree may upgrade to the Senior Ecologist level without completing other CEU for that 5-year certification period.

A holder of the Senior Ecologist designation is encouraged to use the full term, “Certified Senior Ecologist,” on business cards or in official signatures, but may use the initialism “CSE” if space limits require.

Recertification applications at the senior ecologist level require only a cover letter and up-to-date CV if the applicant is, at the time of application, currently certified as a Senior Ecologist by ESA and a member of the Society in good standing.

Senior Ecologist Emeriti

This category is for previously certified Senior Ecologists who are no longer working full-time. The requirements are:

  • Previously certified as a Senior Ecologist for at least 10 years, with no more than a total two-year lapse between periods of certification.
  • May no longer be employed full-time.
  • DO NOT USE THE APPLICATION FORM for this designation. Contact cert@nullesa.org if you are interested.

If the Senior Ecologist Emeritus/ta desires to depict certification on any official document, they are encouraged to use the term “Senior Ecologist Emeritus/ta.” This is meant as an honorary lifetime recognition and does not imply continued professional status. The initialism “SEE” is acceptable if space limits require.

 Wed, 18 Dec 2019 07:31:00 -0600 en-US text/html https://www.esa.org/certification/certification-requirements-checklist/ Killexams : HashiCorp Cloud Infrastructure Automation and Security Products Now Available on Carahsoft GSA Schedule No result found, try new keyword!Carahsoft Technology Corp, the Trusted IT Solutions Provider ®, today announced that Carahsoft has added HashiCorp Terraform and Vault to its GSA Schedule, making HashiCorp’s solutions available to ... Thu, 10 Aug 2023 03:13:00 -0500 en-US text/html https://www.tmcnet.com/usubmit/2023/08/10/9862668.htm Killexams : ISA Certification and Certificate Programs

ISA certification and certificate programs offer a standards-based learning approach to critical syllabus within the automation industry. Certificate programs increase professional recognition and validate specific knowledge areas such as safety and cybersecurity, while certification programs provide an objective, third-party assessment and confirmation of your skills and experience.

Benefits for Individuals

  • Documents education, knowledge, and experience
  • Provides an objective, third-party assessment of skill level
  • Provides a tangible way to validate industry experience
  • Increases preparation for additional job responsibilities

Benefits for Employers

  • Recognizes automation professionals with the appropriate credentials and helps accelerate workforce development
  • Provides hiring and promoting qualifications for managers
  • Promotes safety and efficiency
  • Improves productivity and increases ROI by impacting mission-critical decisions

Certification Programs

ISA offers the following certification programs. When you earn ISA certification, you will receive a digital badge and can be listed in the ISA credential directory, which is accessable to anyone via our member community platform, ISA Connect.

Earning an ISA certification demonstrates your mastery of working with a standardized body of automation knowledge. By verifying your expertise with ISA—the global leader in automation education and training—you can showcase your automation proficiency to employers and stand out among your peers. These programs leverage the Automation Competency Model, which outlines the core skills needed to excel in today's automation environments.

Certificate Programs

ISA certificate programs are designed to increase knowledge and skills across a broad range of syllabus including cybersecurity, safety instrumented systems, automation project management, and many others. We offer certificate programs based on industry-developed job performance criteria and IEC adopted standards.

Learn more about our certificate programs and how they can add value to your career.

Support of the Control Systems Engineer (CSE) License Program

ISA supports the Control Systems Engineer (CSE) License, a specialized Professional Engineering (PE) license recognized in the United States for engineers working in automation and control. ISA offers training courses and review materials to help engineers prepare for state boards' exams held each October. Learn about the CSE Licensure Preparation Program.

Product Certification and Conformance

For over 75 years, ISA has been developing international standards for the industrial automation and control systems industry. Currently, ISA runs two conformity programs based on third-party conformity assessment and/or certification.

Together, these programs establish that a product meets expectations regarding safety, security, performance, and other essential criteria. For more information or questions about product certification and conformance programs, please contact Andre Ristaino.

Fri, 09 Dec 2022 01:43:00 -0600 en text/html https://www.isa.org/certification Killexams : Certification Testing

Taking an exam is the final step to earning an ISA certification. Upon paying the exam fee, the application process is complete, and you have acknowledged that you meet the requirements listed below in numbers 1–3.

  1. Commit to the ISA Code of Conduct.
  2. Meet the education and work experience requirements for the specific certification for which you are applying.
  3. Acknowledge that you are subject to a random application verification audit.
  4. Agree to provide the supporting documents proving your qualifications if you are audited.
  5. Pay the exam fee. (See “Exam Fee” section below for more information.)

Next Steps

  1. Watch for an email from coming from our testing provider, Meazure Learning (candidatesupport@meazurelearning.com). Expect to receive it fifteen days before your exam window. The email will include information about how to schedule your exam online or at a test center. NOTE: If you have attended a CCST review course and wish to apply for CCST certification, you must also meet the requirements listed above in numbers 1–3. Since the application fee is included in the cost of all CCST review courses, you will receive an exam invitation within three business days after completing the review course.
  2. Schedule and take your exam. You will be notified whether you pass or not immediately upon completing the exam.
  3. Watch for an email summarizing your exam results. If you pass your exam, you will also receive your digital badge and you will be listed in the ISA Credential Directory.
  4. Watch for an email from certification@isa.org regarding an audit. You will only receive this email if you have been randomly selected to be audited. If you do not receive this email, you do not need to do anything. Audits are conducted three times per year, so it may take several months after completing your exam to receive an email if you have been selected for an audit.

Certification Exams Available

All ISA certification exams are closed book and have multiple choice questions. The CCST Specialist—Level 2 certification exam is three hours long and all other certification exams are four hours long. See the information below for the number of questions in each exam.

Exam Questions
Certified Automation Professional® (CAP ®) 175
Certified Control System Technician® (CCST®) Level 1 150
Certified Control System Technician (CCST) Specialist—Level 2 125
Certified Control System Technician (CCST) Master—Level 3 150

Exam Fees 

Submit payment to apply for the chosen certification when you can confirm that you meet the certification requirements to sit for the exam and can test within the deadline of the exam window of your choosing. You will be notified by email with the next steps to schedule your exam.

CAP 

  • CAP Requirements
  • CAP Application Fee
    • 347 USD — ISA Members
    • 467 USD — Non-members 

CCST 

Apply for CCST Certification for Free

Register for one of the CCST review courses and apply for certification for no additional fee. The following courses qualify: Level I Review Course (TS00), Level II Review Course (TS02) or Level III Review Course (TS03). You will automatically receive an exam invitation once you start the course. By paying for the review course, you are confirming that you are aware of, have met and can document the requirements for the certification level for which you are applying.

Payment Methods

ISA accepts payment for exam fees by check, certified check, money order, PayPal payment, wire transfer in US Dollars, or credit card. Make checks payable to ISA. For wire transfer account information, please contact ISA Customer Service. The following credit cards are accepted: AMEX, Discover card, Master Card, and VISA. Purchase orders are not accepted.

Fees are nonrefundable. It is your responsibility as the applicant to thoroughly review the requirements of the certification for which you are applying. No refunds will be made for applicants who do not appear for testing on the appropriate exam date. There are no group discounts for certification application fees.

Exam Scheduling

After you pay your exam fee to complete the application process, you will receive an exam invitation (Notice to Schedule Exam) email from candidatesupport@meazurelearning.com 15 days before the beginning of your assigned exam window with steps to schedule the exam. Follow the instructions in the email to schedule your exam—online or at a test center—through the online exam scheduling system. You can get more information about your exam window deadline by accessing the “My Credentials” tab in your ISA account.

If you have not received your exam invitation within that time frame, please check your spam or junk folder for an email from candidatesupport@meazurelearning.com, as some server firewalls may block the receipt of the email. If you still are unable to find your exam invitation, please email certifications@isa.org for assistance.

See further related details on the Exam Procedures page.

Exam Windows

If you are applying for CAP or CCST certification, you have a twelve-month exam window. You may take the exam at a Test Center or online during one of three exam windows (see chart below). Each exam window will have a deadline for applications to be submitted. Eligible candidates will only be able to take the exam during the following exam windows.

Exam Window Application Submission Deadline
2023 Window 3: 
1 November 2023 – 31 October 2024		 15 September 2023
2024 Window 1:
1 March 2024 – 28 February 2025		 15 January 2024
2024 Window 2:
1 July 2025 – 30 June 2025		 15 May 2024
2024 Window 3:
1 November 2025 – 31 October 2025		 15 September 2024


Review Course Testing: If you have attended a review course (paid for by you or sponsored by a company), you will receive your exam invitation near the end of your review course and have a twelve (12) month exam eligibility period based on the date of your review course.

Digital Badging

After passing the CAP or CCST certification exam, you will earn a digital badge. To access, manage, and/or share your secure digital badge, use your email address and password to enter your BadgeCert portfolio. If it is the first time accessing your portfolio, click “Request new password?” on their login page to create your password. More information about using your digital badge can be found here.

Grievances Appeal Process

If you feel you were wrongly denied certification, either original or renewal, from the CAP or CCST programs, then you have the right to appeal. Review the Grievances Appeal Process.

 

Special Test Accommodations

Candidates who request special test accommodations under the Americans with Disabilities Act (or a similar international standard) must submit their test scheduling requests at least 30 days prior to their preferred test dates. Note that some special test accommodations may not be available for online testing.

If you have a request, email certifications@isa.org.

Contact Meazure Learning

You can contact Meazure Learning by phone at +1 919-572-6880 or email candidatesupport@meazurelearning.com.

Meazure Learning's business hours are Monday through Friday from 8:30 a.m. to 5:30 p.m. and Saturday from 8:30 a.m. to 4:00 p.m. Eastern Time, excluding holidays. Voice mail will accept candidate inquiries outside of these business hours.

Note: Meazure Learning, Scantron, and ProctorU are all one-and-the-same organization.

Important update: Scantron is changing to Meazure Learning. The names Scantron, Examity, and ProctorU may be continue to be used in communications from Meazure Learning during the transition period.

 Tue, 11 Jul 2023 02:55:00 -0500 en text/html https://www.isa.org/certification/certification-testing Killexams : Apply for Certification Today!

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 Mon, 31 Jul 2023 21:26:00 -0500 en-US text/html https://www.esa.org/certification/ Killexams : Sales Comparison Approach (SCA): Definition and Use in Appraisals

What Is a Sales Comparison Approach (SCA)?

The term sales comparison approach refers to a real estate appraisal method that compares one property to comparables or other recently sold properties in the area with similar characteristics. Real estate agents and appraisers may use the sales comparison approach when evaluating properties to sell. This method accounts for the effect that individual features have on the overall property value. In other words, the total value of a property is the sum of the values of all of its features.

Key Takeaways

  • A sales comparison approach is a valuation method used in the real estate industry that compares one property to similar ones recently sold in the area.
  • The SCA is used as the backbone for the comparative market analysis which considers prices of recently sold properties that are similar and within the same geographic area.
  • Some of the common characteristics that make up the SCA include location, recently sold listings, features, age and condition, and average price per square foot.

Understanding the Sales Comparison Approach (SCA)

The sales comparison approach helps real estate professionals and buyers determine if the price of a home is fair and comparable to the current market. Professionals use similar properties that were recently sold within a short distance of the subject property—usually in the same neighborhood—that share similar characteristics as a comparison.

The SCA is used as the backbone for the comparative market analysis (CMA). This is an analysis of the prices of recently sold properties that are similar and within the same geographic area. In other words, the approach often entails looking at local properties to see what they have in common. From there, appraisers can determine a value for a property based on its features.

Although there are many steps that a real estate appraiser can take in evaluating a property's value, the following are some of the most common characteristics used in an SCA:

  • Location and neighborhood: Geography may directly impact the value of real estate. It's important to compare homes in the same neighborhood rather than those found in another part of town. Factors considered include proximity to schools, nearby bodies of water, parks, and how close they are to highways and overpasses, as well as pollution levels.
  • Recently sold listings: These properties can provide a starting point for the value of homes in the area. Although features and the market factor into the sale price, reviewing property values and recent sales are good baseline numbers.
  • Features: A home should be compared with properties with the same number of bedrooms, garages, and bathrooms. The comparison should include homes of about the same square footage on parcels of land that are about the same size.
  • Age and condition: It's important to compare homes of similar age as well as soundness. A home's condition significantly influences an appraisal. For example, there may be two similar homes in the same neighborhood. But if one is in need of repair, it can seriously affect its value.
  • Average price per square foot: Once similar homes are compiled, take each of their sale prices and divide them by their square footage. The result yields the cost per square foot based on the homes in the sales comparison analysis. Take the average cost per square foot for all comparable homes and multiply that number by the square footage of the home being appraised.

Note that the IRS lists the market or sales approach as an acceptable method of analyzing an asset's valuation for tax purposes.

Performing Appraisals Using the Sales Comparison Approach

For a somewhat simple appraisal method, SCA actually involves a number of different steps. These steps are outlined below, and though the process may feel different for different markets or types of properties, these steps are usually taken across most types of properties.

Step 1: Identify Property

Begin by clearly identifying the subject property that you're appraising. Gather detailed information about its physical attributes, location, and any unique features. This step establishes the starting point for comparing it to other properties so, even though it may feel straightforward, it is among the most important steps.

Step 2: Select Comparables

Carefully select comparable properties that have recently sold and share similarities with the subject property. Consider the factors discussed in the previous section when selecting similar properties. The goal is to find properties that potential buyers would consider comparable to the subject property.

Step 3: Collect Data

Thoroughly collect data for both the subject property and the chosen comparables. This includes obtaining accurate property details, sale prices, transaction dates, square footage, lot size, room counts, and any significant features. The accuracy and completeness of this data are crucial for making informed comparisons and performing data analysis. Take note of variances or major differences worth adjusting for.

Step 4: Perform Adjustments

Examine the differences between the comparables and the subject property. Identify attributes where variations exist such as larger square footage or superior amenities in a comparable. It may be somewhat subjective, but determine how much these differences would influence a buyer's perception of value.

Step 5: Perform Portfolio Reconciliation

After making adjustments, you may have a range of adjusted sale prices for the comparables. Consider the relative relevance and reliability of each comparable. Weight the impact of each comparable based on factors like similarity to the subject property, recency of sale, and market conditions. Using this new lense, you should reconcile the adjusted values to arrive at a more accurate value range for the subject property.

Step 6: Determine Final Estimate

From the reconciled range of adjusted values, calculate a final estimated value for the subject property. This can be done by averaging the adjusted sale prices of the comparables within the range or applying other appropriate statistical methods. The goal is to arrive at a single estimated value that reflects the property's market value based on the comparables' data.

Advantages and Disadvantages of the SCA

Pros of the Sales Comparison Approach

The SCA approach is grounded in real market transactions, making it highly relevant and reflective of current market conditions. It considers the actual prices at which properties similar to the subject property have recently sold. Therefore, it's especially effective when there is a substantial number of comparable properties available for analysis.

The concept of comparing recent sales of similar properties to the subject property is easy to understand, making it accessible to both appraisers and clients. Therefore, the SCA method is somewhat known for being transparent. The SCA method also sheds light on the historical deviations of an asset's price. Since it relies on recent sales data, this approach can capture changes in market conditions and trends over time.

When multiple comparable sales are analyzed and adjustments are made for differences, the approach provides a range of values that can serve as a validation of the estimated value. If the adjusted values are consistent across comparables, it lends credibility to the final estimate.

Last, the sales comparison approach is a widely accepted and practiced method in the real estate industry. This widespread usage enhances its credibility and acceptance among appraisers, lenders, and other stakeholders.

Cons of the Sales Comparison Approach

The quality and quantity of comparable sales data can vary significantly based on the property type, location, and market conditions. In some cases, there might not be enough recent and relevant comparable sales to accurately estimate the value of the subject property. For properties that are one-of-a-kind or have features that are difficult to find in the market, the sales comparison approach might not be suitable.

Making adjustments for differences between the subject property and comparables can be subjective and challenging. For example, determining the value of specific features like swimming pools, architectural styles, or interior upgrades can be difficult, and differing opinions among appraisers can lead to inconsistent results.

SCA relies heavily on recent sales data, which means it might not capture rapid market fluctuations or sudden changes in supply and demand. In rapidly changing markets with volatility, using older comparable sales might not accurately reflect current property values.

Finally, selecting truly comparable properties is crucial for accurate valuation. If the chosen comparables are not truly similar to the subject property in terms of size, location, condition, and other relevant factors, the valuation results can be skewed. During analysis, it may not be evidently clear which assets are comparable and which may be red herrings that are not suitable comparisons.

Pros

  • Grounded in real transactions, making it particularly relevant

  • Has a wide applicability

  • Is a somewhat simple concept that can be easily followed and documented

  • May allow for customization (i.e. for individual property features)

  • May lend itself to historical analysis by tracking changes over time

Cons

  • May not have abundant data depending on the asset type or market

  • May not be suitable for unique properties

  • May be difficult to adjust based on available data

  • Will not always reflect shortest-term market fluctuations

  • Relies somewhat on subjective interpretation

Since the sales comparison approach isn't an official appraisal, owners may need to hire an appraiser for unique properties and those that are hard to value.

Special Considerations

There are many other features that may increase the value of a home. However, a sales comparison analysis is not an exact science since the value of a home is somewhat subjective, meaning one family may find more value in it than another, thereby increasing their offer. As stated earlier, outside factors such as the overall state of the economy, the job market, and the state of the real estate market all play heavily into how much a home is sold for or how long it sits on the market.

Remember, the sales comparison approach used in real estate valuation is not an official appraisal. In cases where a unique property is to be valued or one whose value is difficult to determine, a formal appraisal may be required. This means hiring an appraiser—an independent and unbiased professional who determines the property's fair value by using certain facts, figures, and other considerations.

What Are Comparable Sales in the Sales Comparison Approach?

Comparable sales, often referred to as "comps," are properties that have recently sold and are similar to the subject property in terms of relevant characteristics such as location, size, style, age, condition, and amenities. These sales are used as a basis for estimating the value of the subject property through a process of comparison and adjustment.

What Types of Properties Is the Sales Comparison Approach Suitable for?

The sales comparison approach is suitable for a wide range of property types, including residential, commercial, and vacant land. It is particularly effective when there is a significant number of comparable properties available and when the market conditions are relatively stable.

How Do Appraisers Select Comparable Properties for Analysis?

Appraisers select comparable properties based on their similarity to the subject property. They consider factors like location, size, style, condition, age, and recent sales dates. The goal is to find properties that are as similar as possible to the subject property to provide a reliable basis for comparison.

How Does the Sales Comparison Approach Account for Property Uniqueness?

While the sales comparison approach considers property uniqueness, it relies on finding comparable properties that share similar attributes with the subject property. However, truly unique features might not have direct comparables, making the adjustment process more challenging and potentially leading to less accurate valuations.

The Bottom Line

The sales comparison approach is a real estate valuation method that estimates a property's value by comparing it to recently sold properties with similar characteristics in the same market area. By analyzing these comparable sales and making adjustments for differences in features, size, condition, and location, appraisers derive an estimated value for the subject property based on actual market transactions.

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