This document provides an overview of real estate appraisals. It defines appraisal as estimating the value of a property based on research and analysis of comparable properties. The document outlines the importance of appraisals for brokers and agents in determining market value. It also discusses the standards and approaches used in appraisals, including the market data, cost, and income approaches. Comparable market analyses and adjustments to comparable properties are explained. The conclusion emphasizes that appraisals provide accurate property valuations essential for the real estate profession.