Frequently Asked Questions....

What is the Appraisal Institute?
The Appraisal Institute is the acknowledged leader in residential and commercial real estate appraisal education, research, publishing, and professional membership designation programs. The Appraisal Institute has more than 18,000 members and 98 chapters across the country. Designated members are professionals who have met stringent requirements and most exceed state licensing and certification for education and experience. Approximately 20% of all licensed or certified appraisers have earned the right to be called Appraisal Institute members.

Membership Categories
The Appraisal Institute offers three membership categories: affiliate membership, associate membership and designated membership. To become a designated member one must successfully complete advanced courses, submit thousands of hours of verified appraisal experience, and receive a passing grade on a demonstration report documenting the individual’s expertise with regard to all aspects of the appraisal process. Once designated, members participate in a program of continuing education. Training in up-to-date valuation techniques, coupled with experience and integrity, make Appraisal Institute members the preferred source for high-quality appraisal services. For information on the current requirements for the Appraisal Institute designations, see Designations.

Affiliate Membership is for appraisers and others involved with the appraisal profession, but not currently interested in working toward an Appraisal Institute designation. Networking opportunities, as well as discounts on educational offerings and publications, are available to Affiliate Members. Your annual Affiliate Member dues will provide benefits you can't put a price on.

Associate Membership is the choice for appraisers working toward earning the MAI (general) or SRA (residential) designations conferred by the Appraisal Institute. Educational, industry experience, examination, and appraisal report writing requirements are all part of the process to earn either designation. Associate Members pay a one-time $125 processing fee, plus applicable national, regional, and chapter dues.


How do I become an appraiser?
To appraise real property, all states require appraisers to be licensed or certified. To find out about the appraiser licensing in Arizona, call the Arizona Board of Appraisal at (602) 542-1539 or visit http://www.appraisal.state.az.us. The Appraisal Institute offers basic real estate appraisal courses that can help you meet your state's requirements.


What does an appraiser do?
The fundamental role of an appraiser is to provide a professional opinion, usually an estimate of market value, to be used in making real estate decisions. Typically, appraisers are employed by lenders to estimate the value of real estate involved in a loan transaction. Appraisers also provide opinions in litigation cases,
tax matters and investment decisions.


What's the difference between an MAI and an SRA?
An MAI is a general appraiser, certified to appraise any property from residences to industrial property or even timberland. An SRA is a residential appraiser, certified to appraise dwellings, including single family homes, apartments, condominiums, retirement homes, etc.


How can I join the Appraisal Institute?
Call the Chapter office and ask for an application. Or you can download an application form at www.appraisalinstitute.org/join/default.asp.