Member of the Appraisal Institute
Short Version-
1. SRA is a Designation issued by The Appraisal Institute.
2. Fewer than 1% of all appraisers, nationwide have achieved the SRA Designation.
3. SRA's primary focus is on residential appraisals.
4. To obtain the SRA, an appraiser must have more education and experience than a "typical" licensed or certified appraiser.
5. Licensed or Certified appraisers are the minimum, while SRA or MAI designated appraisers are at the top of the appraiser hierarchy.
The partners and senior staff appraisers at American Home Appraisals have the SRA Designation.
When you hire us, you are hiring some of the best appraisers in the United States.
Not a brag, just a fact.
The Long Version -
Designated members of the Appraisal Institute
are known
around the world for their knowledge and
experience as well as their unbiased and objective
approach to real property appraisal and analysis.
To hold an Appraisal Institute
designation, an
individual must meet rigorous education,
experience and ethical requirements. By engaging
the services of a designated member of the
Appraisal Institute,
you will benefit from the most
skilled and experienced real estate appraisal
professionals around.
Most designated members hold one or more of the
following designations.
• The
MAI
membership designation, which 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 SRPA membership designation, which is
held by appraisers who are experienced in the
valuation of commercial, industrial, residential
and other types of property.
• The SRA professional membership designation,
which is held by real estate solutions providers
who are experienced in the analysis and
valuation of residential real property.
Currently the Appraisal Institute
confers the MAI and SRA designations.
The current requirements to receive the SRA
designation are:
Education
Receive a passing grade on seven examinations
that reflect 181 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 undergraduate degree from an
accredited educational institution (or satisfy
a specified alternative)
Experience
Receive credit for 4,500 hours of experience,
including 2,000 hours of residential appraisal
experience, all of which must meet strict criteria
Demonstration Report
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 current requirements to receive the
MAI
designation are:
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.
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Lenders, government agencies, courts, corporations,
investors and individual property owners
continually seek out the opinions of designated
Appraisal Institute
members to guide their real
estate decisions because they know our members
are true professionals who have made a commitment
to being the best in their field. They realize
that appraisers holding an Appraisal Institute
designation have demonstrated an advanced level
of education and experience because our
designation requirements exceed those for state
licensing and certification.
Achieving an Appraisal Institute professional
designation isn’t easy, and our members are rightly
proud of their accomplishments. Holding a
professional designation from the Appraisal Institute
denotes a post-graduate level of achievement. In
fact, fewer than 15 percent* of all licensed or
certified appraisers have earned the right to be
called Appraisal Institute designated members.
To maintain their designation(s), members must
fulfill continuing education requirements on an
ongoing basis. This includes periodic attendance at
and passing the exams for Standards of Professional
Practice courses.
This commitment to professionalism makes
Appraisal Institute members the preferred choice
for real estate appraisal and analysis services.
In addition to providing opinions of market value
and traditional appraisal services, designated
members may answer your needs in some or all
of these areas:
Arbitration
Absorption Studies
Business Valuation
Counseling
Consulting
Condemnation
Evaluations
Expert Witness Testimony
Litigation Preparation
Cost & Benefit Studies
Feasibility Studies
Management Advice
Market Analysis
Market Rent Studies
Market Trend Studies
Operating Expense Analysis
Renegotiating Private Mortgage Insurance
Tax Assessment Review & Advice
Zoning Testimony
Today and throughout its 70-year history, the Appraisal Institute is the leading organization for professional real
estate appraisers. Reflecting their unbiased and objective
approach to real property appraisal and analysis, members
of the Appraisal Institute
are required to adhere to a strictly
enforced Code of Professional Ethics and Standards of
Professional Appraisal Practice. Appraisal Institute members
may hold the prestigious MAI, SRPA and SRA designations.
The Appraisal Institute advocates equal opportunity and
nondiscrimination in the appraisal profession and conducts
its activities in accordance with applicable federal, state, and
local laws.
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It’s easy to find a member of the Appraisal Institute.
Simply go to www.appraisalinstitute.org
and look for the “Find an Appraiser” option. You can search
for designated members by name as well as
geographically by city, county, state and
metropolitan statistical area (MSA).
Appraisal Institute
550 W. Van Buren St.
Suite 1000
Chicago, Illinois 60607
T 312-335-4100
F 312-335-4400
OR
www.ai-seattle.org
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