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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:
 
Appraiser Diversity Workshop Scheduled
1/14/2021 2:00 AM
The Appraisal Institute is collaborating with the National Urban League and Fannie Mae to host a free virtual Appraiser Diversity Initiative workshop, “How to Become a Real Estate Appraiser,” Saturday, Jan. 30, noon- 1:15 p.m. EST....Read More
 
Appraisal Institute Helps Tackle Unconscious Valuation Bias: Valuation Magazine
1/12/2021 2:00 AM
The Appraisal Institute is addressing unconscious valuation bias while also expanding opportunities for aspiring appraisers, according to an article in Valuation magazine’s third/fourth quarter 2020 issue...Read More
 
Steps in Highest and Best Use Analysis Determine Use With Highest Present Value: The Appraisal Journal
1/7/2021 2:30 AM
“The Appraisal of Real Estate,” is the premier presentation of the Appraisal Institute’s body of knowledge and the newly released 15th edition of this text is the subject of special coverage in the latest issue of The Appraisal Journal. “The Appraisal of Real Estate,” 15th edition, is respected inte [......Read More
 
Rodman Schley to Become President of Appraisal Institute on Jan. 1
12/30/2020 2:00 AM
Rodman Schley, MAI, SRA, of Arvada, Colorado, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with over 17,000 professionals in almost 50 countries....Read More
 
Winterize Your Home Now, Appraisal Institute Says
11/24/2020 2:05 AM
The nation’s largest professional association of real estate appraisers today advised homeowners that it’s beneficial to winterize their homes soon, before winter weather takes hold....Read More
 
Appraisers Must Identify the Scope of Work, New Book Says
10/22/2020 3:00 AM
The scope of work concept is fundamental to appraisal, and its proper application ensures that appraisers can provide various services and maintain flexibility in their assignments, which has become increasingly important in our rapidly changing business environment, according to a book published by [......Read More
 
Appraisal Organizations Join Forces to Support Training, Ethics to Combat Bias
10/16/2020 3:00 AM
The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the Massachusetts Board of Real Estate Appraisers today announced their collective support for the development of additional training that addresses unconscious bias in valuati [......Read More
 
Assembled Workforce an Important Consideration in Property Valuation: The Appraisal Journal
10/7/2020 3:00 AM
Separating the value of a trained workforce from the overall value of a going concern requires economic analysis, not just the subtraction of employee salaries, according to an article published this week in The Appraisal Journal...Read More
 
Appraisal Institute Honors 17 National Award Winners
9/22/2020 2:44 AM
Sandra K. Adomatis, SRA, of Punta Gorda, Florida, was honored Monday with the Appraisal Institute’s Lifetime Achievement Award, and James L. Henderson, SRA, of Lakeland, Florida; Charles R. Mills, MAI, SRA, AI-GRS, of Jeffersonville, Indiana; and César Servando Cantú Martínez, MAI, SRA, AI-GRS, of M [......Read More
 
Appraisal Institute Seeks to Expand Diversity, Combat Alleged Bias in Valuation
9/10/2020 3:00 AM
As our nation continues reflecting on important matters of racial justice, the nation’s largest professional association of real estate appraisers today reiterated its efforts to expand opportunities for aspiring appraisers and help combat alleged bias in valuation....Read More