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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:
 
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
 
New Appraisal Institute Textbook Addresses Time-tested Valuation Principles for Today’s World
9/2/2020 3:00 AM
In the midst of a global pandemic and social justice concerns, the Appraisal Institute today published “The Appraisal of Real Estate,” 15th edition. The textbook long has been recognized as the valuation profession’s most comprehensive source of information for appraisers and other real estate profe [......Read More
 
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