With a heritage extending over 60 years, the Appraisal Institute is the world’s leading organization of professional real estate appraisers. The Appraisal Institute has general appraisal members who hold the MAI, SRPA, or SREA designation and residential appraisal members who hold the SRA or RM designation. Identified by their experience and knowledge of real estate valuation, these members adhere to a strictly enforced Code of Professional Ethics and Standards of Professional Appraisal Practice. And when it comes right down to it, few appraisers are better qualified to guide your decisions than designated members of the Appraisal Institute.
Why Members of the Appraisal Institute?
Why do so many lenders, government agencies, courts, corporations, investors, and individual property owners seek the opinions of real estate appraisers designated by the Appraisal Institute to guide their real estate decisions? These parties know that Appraisal Institute members are true professionals who have made a commitment to being the best in their field. They realize that appraisers who are solely state licensed or certified have not demonstrated the advanced level of education and experience required of Appraisal Institute members.
Earning an Appraisal Institute designation is not easy, and members are proud of their accomplishments. In fact, fewer than 15%* of all licensed or certified appraisers have earned the right to be called Appraisal Institute members. Appraisal Institute membership requirements exceed state and federal requirements in terms of education, Experience, Code of Ethics, and Standards of Professional Appraisal Practice. To become designated, an appraiser must:
· Demonstrate knowledge of the fundamental principles of real property appraising by passing a series of rigorous examinations.
· Display technical skills in various appraisal assignments.
· Prove the ability to produce succinct, well reasoned valuations and reports that conform to the Appraisal Institute’s strict Code of Professional Ethics and Standards of Professional Appraisal Practice.
· Hold an undergraduate degree from a four-year accredited college (or comply with specified alternatives).
In addition, members must fulfill demanding continuing education requirements to maintain their designations. This commitment to professionalism makes Appraisal Institute members the preferred choice for real estate appraisal services.
* Based on 12,000 designated members out of 80,000 names in the NTIS database.