What the MAI designation meansMAI is a designation awarded by the Appraisal Institute. It is held by appraisers who have completed its education requirements, met its experience requirements, and passed a demonstration of knowledge showing they can actually do the work on complex property. Why clients ask for itA state certification is a license to practice. A designation is evidence of demonstrated competence on complicated assignments. Courts, attorneys, institutional lenders, and government agencies routinely require an MAI on commercial and litigation work, because it narrows the field to appraisers whose work has been examined by their peers. How rare it isFewer than one appraiser in twenty holds the MAI. The demonstration requirement is what thins the field: it is not a test you can cram for, it is a piece of work that has to stand up. The continuing obligationDesignated members are bound by the Appraisal Institute's Code of Professional Ethics and Standards of Professional Appraisal Practice on top of USPAP, and must keep current through continuing education. The designation can be lost. The appraiser hereEdwin Farr, MAI, MS-RECM. State-certified general real estate appraiser in North Carolina, holding the MAI designation and a Master of Science in Real Estate and Construction Management. Global Appraisal LLC works statewide from Mebane. QuestionsCall 984-360-8050 or email claude@globalappraisal.net. |