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MAI designation (source: The Appraisal Institute)
MAI stands for Member, Appraisal Institute. The Appraisal Institute is an international membership association of professional real estate appraisers, with more than 18,000 members and 99 chapters throughout the United States, Canada and abroad. 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 MAI designation, its most prestigious, is held by appraisers who are experienced in the valuation of commercial, industrial, residential, and other types of property and who advise clients on real estate investment decisions.

MAI designates must meet the following requirements:

Education:

  • Receive a passing grade on 11 examinations that reflect 380 hours of classroom instruction and that test the appraiser’s knowledge of basic and advanced appraisal principles, procedures and applications; report writing; valuation analysis and standards of professional practice
  • Receive a passing grade on a four-module, two-day comprehensive examination
  • Hold an undergraduate degree from a four-year accredited educational institution
Experience:

Receive credit for 6,000 hours of experience, including 3,000 hours of specialized appraisal experience, all of which must meet strict criteria.

Demonstration Report:

Receive credit for a demonstration appraisal report relating to income-producing property that demonstrates the ability to present a properly supported value estimate or opinion evaluating the nature, quality or utility of a parcel of real estate or any interest in, or aspect of, real property, including handling physical incurable depreciation, or fulfill an approved comparable alternative. Because of its rigorous requirements and commitment to providing valuable information, continuing education and other valuable resources to its members, you can be confident and appraiser with an MAI designation will provide you with the very highest quality service on virtually any appraisal assignment, even the most complex commercial appraisal.


Appraisal Institute News:
 
Craig Steinley Elected 2021 Appraisal Institute Vice President
8/7/2020 2:28 AM
Craig Steinley, MAI, SRA, AI-GRS, AI-RRS, of Rapid City, South Dakota, was elected 2021 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors during the Board’s virtual meeting....Read More
 
Upzoning Can Impact Appraisals, Places Emphasis on Highest and Best Use Analysis: Valuation Magazine
7/30/2020 8:32 AM
Many cities see upzoning as an effective way to expand affordable housing, but zoning changes can impact appraisals, so appraisers need to analyze the highest and best use of the property and land, according to an article in Valuation magazine’s second quarter 2020 issue...Read More
 
Appraisal Institute Urges Swift Passage of Appraisal Portal Legislation
7/21/2020 4:57 AM
The nation’s largest professional association of real estate appraisers this month sent a letter urging swift passage of the Portal for Appraisal Licensing Act of 2020 in the 116th Congress, which would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a por [......Read More
 
Golf Course HOAs Should Carefully Consider Financial Security Options: The Appraisal Journal
7/14/2020 3:00 AM
Homeowners associations should carefully consider all available methods for maintaining value in golf course communities, according to an article published this week in The Appraisal Journal...Read More
 
Homeowners Can Help Appraisers During COVID-19 Pandemic, Appraisal Institute Says
6/16/2020 3:00 AM
Despite the coronavirus and safety considerations, homeowners can still work with appraisers to help provide a full picture of their property, the nation’s largest professional association of real estate appraisers said today....Read More
 
Landscaping Can Have Major Impact on Property Values: Appraisal Institute
5/12/2020 3:06 AM
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners that improving their property’s landscaping can result in a significant return on investment when selling the home....Read More
 
Appraisers Can Help Courts, IRS Navigate Conservation Easements, New Book Says
4/28/2020 3:15 AM
Governmental and judicial entities’ expanded oversight of the real estate appraisal process makes it imperative that those involved in valuing easement-encumbered properties demonstrate their competence to the Internal Revenue Service and the courts, according to a book published today by the Apprai [......Read More
 
Appraisers Must Adapt to iBuyer Models: Valuation Magazine
4/16/2020 6:03 AM
While the volume of home sales involving iBuyers is still fairly limited, the number of markets they reach is growing and their role in the residential real estate sector could be transformative, according to an article in Valuation magazine’s first quarter 2020 issue...Read More
 
Automated Valuation Models Need More Reliability: The Appraisal Journal
4/7/2020 2:53 AM
Since automated valuation model vendors use varying methodologies, valuation professionals should use caution when relying on AVM data, according to an article published this week in The Appraisal Journal...Read More
 
Real Estate Groups Ask Governors, Mayors for Appraisal ‘Stay at Home’ Exemptions
3/26/2020 2:56 AM
The nation’s largest professional association of real estate appraisers joined four other real estate organizations March 25 in asking state and local government leaders to include appraisers among “essential services” exempted from stay-at-home or shelter-in-place orders issued during the coronavir [......Read More