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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. This episode covers content for the National Real Estate Exam. In this episode you will learn: • The four-step analysis used by appraisers to determine the highest and best use of a property. • How to distinguish between legally permissible and physically possible constraints on land. • Why appraisers must analyze land both as vacant and as currently improved to find the highest value. • The definition of interim use and how it appears in exam scenarios. • A mnemonic device to help you recall the criteria for highest and best use under pressure. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: / @open-exam-prep