SRPA Designation

 The SRA (Senior Residential Appraiser) professional membership designation is held by appraisers of the Appraisal Institute who are experienced in the valuation of residential properties. To have received the SRA designation, the appraiser must have fulfilled the following technical requirements:

Education:

· Received a passing grade on a series of examinations that tested the appraiser’s knowledge of:
· Basic appraisal principles
· Basic appraisal procedures
· Residential market analysis and highest & best use
· Residential appraiser site valuation and cost approach
· Residential sales comparison and income approaches
· Residential report writing and case studies
· Real estate finance, statistics, valuation modeling
· Advanced residential applications and case studies Part 1
· Hold an associate degree or higher from an accredited educational institution (or comply with specified alternatives)

Experience:

· Received credit for 3,000 hours of appraisal experience of residential real estate including two-to-four-family residential

Demonstration Report:

· Received credit for a demonstration appraisal report that satisfactorily demonstrated the appraiser’s ability to present a properly supported value estimate of the nature, quality, or utility of a residential property

Continuing Education:

To maintain the designation a member must fulfill a rigorous cycle of continuing education in which credit is earned for attending training courses and seminars. This requirement includes attendance at and passing of the examinations corresponding to the Appraisal Institute’s Standards of Professional Practice, Parts A & B.