The Appraisal Institute is a global membership association of professional real estate appraisers, with nearly 21,000 members in almost 60 counties throughout the world. Organized in 1932, its mission is to support and advance its members as the choice for real estate solutions and uphold professional credentials, standards of professional practice and ethics consistent with the public good. The Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Members of the Appraisal Institute benefit from an array of professional education and advocacy programs.
A keystone on which the organization was founded – and by which it continues to serve the public – is that every member agrees to conduct his or her professional activities in accordance with the Appraisal Institute’s Code of Professional Ethics and Standards of Professional Appraisal Practice. As further evidence of its commitment to ethics and standards, the Appraisal Institute has a highly refined peer review process through which it enforces these standards and Code of Ethics
The Appraisal Institute confers the prestigious MAI and SRA designations to real property appraisal professionals who have met rigorous requirements relating to education, testing, experience and demonstration of knowledge, understanding and ability.
Appraisers holding the MAI designation are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties, and who advise clients on real estate investment decisions. Real estate solutions providers who are experienced in the analysis and valuation of residential real property hold the SRA designation.
The current requirements for the MAI designation are:
• Have good moral character
• Meet standards and ethics requirements
• Pass rigorous education requirements
• Pass a final comprehensive examination
• Submit specialized experience which must meet strict criteria
• Receive credit for the Demonstration of Knowledge Requirement
• Conduct his or her professional activities in accordance with the Appraisal Institute’s Code of Professional Ethics and are subject to a peer review process, which enforces the Code of Professional Ethics
|
