ALC study plan
ALC · Give each week a clear focus.
8 weeks · About 6 hours per week
Land brokerage (farms, ranches, recreational, timberland, vineyards, orchards) & Appraisals and land valuation
Define the core vocabulary of farm, ranch, recreational, timberland, vineyard, and orchard brokerage without notes
List the income approaches used for agricultural land and state when each applies
Diagram how soil type, water rights, and access easements affect highest and best use
Build a one-page glossary linking appraisal terms to brokerage practice
Your checkpoint
A 40-term flashcard set covering Domain 1 and Domain 4 vocabulary, self-quizzed to 90% accuracy
Land brokerage (farms, ranches, recreational, timberland, vineyards, orchards)
Compare leasing structures for farmland, grazing, and orchard operations
Explain timber cruise basics and how harvest schedules change value
Identify disclosure obligations unique to agricultural and recreational parcels
Draft a listing narrative for a hypothetical 200-acre recreational tract
Your checkpoint
A two-page sample listing narrative for a mixed-use rural parcel citing at least six Domain 1 concepts
Appraisals and land valuation & Undeveloped, transitional and development land; subdivision and lot wholesaling
Apply the sales comparison approach to land with few comparable sales
Contrast allocation, abstraction, and subdivision development methods for land value
Compute a simple discounted cash flow for a raw-to-finished lot scenario
Explain how easements, floodplain, and wetlands adjust appraised value
Your checkpoint
A worked valuation worksheet for one parcel using three approaches, with each assumption labeled
Undeveloped, transitional and development land; subdivision and lot wholesaling
Outline the subdivision approval sequence from concept to recorded plat
Calculate lot yield from gross acreage after deducting roads, drainage, and open space
Describe lot wholesaling economics including carry cost and absorption risk
Distinguish transitional land from fully entitled development land
Your checkpoint
A lot-yield and pro-forma model for a 60-acre hypothetical subdivision, showing yield, cost per lot, and break-even price
Site selection and assemblage of land parcels
Build a site-selection scorecard weighting access, utilities, zoning, and topography
Identify assemblage opportunities and the holdout-parcel problem
Map the entitlement risk timeline across jurisdictions
Explain how off-site improvements shift parcel value
Your checkpoint
A weighted site-selection scorecard applied to three hypothetical parcels with a ranked recommendation
Auctions and farm and land management & Site selection and assemblage of land parcels
Sequence the pre-auction, auction, and closing steps for a land auction
Draft reserve, bidder-packet, and terms language in plain English
Compare auction formats and when each suits a land seller
List farm and land management duties including lease oversight and capital planning
Your checkpoint
A complete auction timeline and bidder-packet outline for one hypothetical ranch sale
Auctions and farm and land management & Appraisals and land valuation
Reconcile conflicting value indications into a final opinion
Explain management reporting to an absentee landowner
Review USPAP-style record-keeping duties at a conceptual level
Practice explaining appraisal scope to a non-technical client
Your checkpoint
A one-page reconciliation memo plus a client-facing summary of the same valuation in plain language
Land brokerage (farms, ranches, recreational, timberland, vineyards, orchards) & Undeveloped, transitional and development land; subdivision and lot wholesaling & Site selection and assemblage of land parcels & Appraisals and land valuation & Auctions and farm and land management
Synthesize all five domains into an integrated case study
Time yourself on mixed-domain practice sets under exam conditions
Close knowledge gaps flagged during weeks 1-7
Rehearse explaining calculations aloud without notes
Your checkpoint
A full-length timed practice exam with a written error log and remediation plan for every missed item
Milestones
Week 2: Score at least 85% on a self-made Domain 1 quiz and explain timber and water-rights value drivers aloud in under five minutes
Week 4: Complete the valuation worksheet and lot-yield model with all assumptions documented and arithmetic independently verified
Week 6: Present the site-selection scorecard and auction timeline to a study partner and defend each weighting choice
Week 8: Achieve 80% or higher on the timed practice exam with every missed item logged and remediated