[Georgia Real Estate] 36, Appraisal Principles and Value

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to distinguish market value, market price, and construction cost on the exam. - The four economic characteristics of value represented by the DUST mnemonic. - Key appraisal principles including highest and best use, substitution, and contribution. - Why spending money on property improvements does not equal automatic value creation. - Georgia regulatory distinctions between salesperson CMAs and formal appraisals under GREAB. For independent practice questions, study guides, and video lessons for the Georgia real estate exam, visit https://open-exam-prep.com/practice/ga-real-estate and https://www.youtube.com/@Open-exam-prep . Sources checked: September 14, 2026: https://grec.state.ga.us/ and https://rules.sos.ga.gov/gac/520-1 .