The MAI membership designation is held by appraisers who 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. The requirements that an appraiser must fulfill to receive the MAI designation are as follows:
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. Receive credit for 6,000 hours of experience, including 3,000 hours of specialized appraisal experience, all of which must meet strict criteria. 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 valuating the nature, quality or utility of a parcel of real estate or interest in, or aspect of, real property, including handling physical incurable depreciation, or fulfill an approved comparable alternative.
The SRA professional membership designation is held by real estate solutions providers who are experienced in the analysis and valuation of residential real property. The requirements that an appraiser must fulfill to receive the SRA designation are as follows
Receive a passing grade on six examinations that reflect 200 hours of classroom instruction and that test the appraiser´s knowledge of appraisal principles, residential valuation techniques, report writing and standards of professional practice
Hold an Associate degree from an accredited educational institution (or satisfy a specified alternative)
Receive credit for 3,000 hours of Residential Appraisal Experience (must cover at least 24-months).
Receive credit for a demonstration appraisal report relating to a residential 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, or fulfill an approved comparable alternative.
The AI-GRS membership designation is held by professionals who can provide reviews of appraisals of a wide range of property types, including commercial, industrial, agricultural, vacant land and others. These individuals possess experience and knowledge that give them the tools to address the issues unique to general and commercial real property reviews. AI-GRS Designed members agree to adhere to the Appraisal Institute code of professional ethics and standards of professional appraisal practice, underscoring their commitment to sound and ethical professional practice.