The Appraisal Institute is the premier international association of professional real estate appraisers with nearly 22,000 members in over 60 countries. Formed in 1932 as a result of the valuation problems that contributed to the Great Recession, the organization has led the way in educating the appraisal world, fostering and promoting the highest standards of practice through its designation programs, peer review process, research and publishing endeavors. Members of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA and SRA designations.
For the limited number of appraisers who have achieved the MAI designation, each has met rigorous requirements relating to education, testing, experience and demonstration of knowledge, understanding and ability. MAI designees are experienced in commercial valuation, including industrial, retail and multifamily properties, as well as those with specialized experience in fields such as agriculture. The MAI designation is only granted to individuals who have gone through a rigorous training program which commonly requires 10-15 post graduate years to achieve. The requirements include a four year college degree, nearly 400 hours of specialized appraisal education, peer review of multiple years of their appraisal experience, a highly detailed demonstration appraisal report of an income producing property and a comprehensive four part examination.
Steve, Kyle and Bonnie have all worked together to organize continuing education courses and social gathering for the local Monterey Bay Branch of the Northern California Appraisal Institute (see photos below). All three staff members have served as chair or co-chair of the local branch, with Bonnie as the current co-chair. Please contact her if you are interested in becoming involved or would like any additional information about the appraisal industry.
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