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Mai Certification

Discussion in 'Appraisal Education' started by Dulce Isler, Mar 18, 2005.

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  1. Dulce Isler

    Dulce Isler New Member

    0
    Mar 18, 2005
    Professional Status:
    Appraiser Trainee
    State:
    New Jersey
    :huh: Can anyone tell me their opinions on whether an trainee should go for their MAI certification? Im hearing one side how MAIs are the way to go, that this is where the money is in years to come, and on the other side how the way that licensing works now it is just as good as being an MAI.

    Any opinions that you may have I would love to hear about this issue as I would like to make an educated decision.

    THANKS!
     
  2. Tim Hicks (Texas)

    Tim Hicks (Texas) Elite Member
    Gold Supporting Member

    47
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    MAI is a designation earned from the Appraisal Institute. A license or certification is something you obtain from your state. The MAI designation is the best thing to have if you are doing commercial appraisals. The SRA designation is offered by the Appraisal Institute for residential appraisers. Some appraisers hold both designations.

    Right now, a state license is all most residential lenders require. Nobody knows if that will change in the future.
     
  3. Restrain

    Restrain Elite Member

    18
    Jan 22, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    If you are going to be a big fish in a little pond, go for the MAI. It's costly, but it's the only designation that really returns its value.

    If you want to join an organization, do general purpose appraising in a rural or semi-rural area, then find out what organization is active in your area and see if you like it. Otherwise, most people don't look at designations anymore.
     
  4. Paul Ness MAI

    Paul Ness MAI Member

    0
    Jan 14, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Pennsylvania
    I would certainly encourage you to get it. Find someone in your local Appraisal Institute chapter and go to a meeting as a guest. Go to www.appraisalinstitute.org and do a chapter search or a search for members in your area.
     
  5. Ramon Tate

    Ramon Tate Sophomore Member

    0
    Jan 30, 2005
    Professional Status:
    Certified General Appraiser
    State:
    Mississippi
    Despite the cost, which is substantial, I considered it in the recent past. At one point I even made a phone call to an AI coordinator to check on the use of my eminent domain appraisal work for the experience requirements. I was a bit surprised with the uncertainty that greeted my question. The person I spoke with was described to me as THE person on the experience issue. I wasn't sure if it was because no one uses those type appraisals for credit or if there was some type of stigma attached to eminent domain work which I'm not aware of. Is there? One of our people had his RM designation prior to licensing and I never heard him mention anything about problems along those lines. He did say that the designation process could be "quite political", but that was over 10 years ago.

    I've testified in court opposite several MAI's over the years. Although we were in court because we disagreed over value, I can say that there are those that were very professional, two in particular I have great professional respect for. But there have also been those that well... Paul, you'd cringe if you read their testimony in the trial transcripts. I know every organization is going to contain some bad apples. The ones I encountered have not destroyed my interest or the general desirability of the MAI designation. But, in the context of the substantial cost and effort necessary to obtain it, they did dull the shine a bit. It wasn't so much what they did as what AI did not do. And I'm not talking about an isolated event, I'm talking about a pattern of repeated conduct over a period years. If I'm going to invest the money and time, and subject myself to the stresses of trying to keep another plate spinning, I need to have confidence that the AI will be respectful of my investment in the designation by publicly chastising those designees who engage in outrageous conduct under the MAI banner.

    Is the AI willing to institute its own disciplinary action even if the person has not been disciplined by a State appraisal board? This is not a straw man question. I've observed such a situation for several years and am wondering if it's discussed at the AI.
     
  6. Carnivore

    Carnivore Elite Member

    0
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Dulce,

    If I could turn the clock back I would and I would go for all the marbles.

    If your young or fairly young then by all means do this if you plan on making the appraisal profession a career.
     
  7. Bryan Reynolds

    Bryan Reynolds Sophomore Member

    0
    Jun 10, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Kentucky
    Andrew

    I was just wondering. What is young or fairly young?


    Just wanna know where I fall.


    Bryan
     
  8. JTip

    JTip Senior Member

    90
    Oct 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    At one time someone (I think it was my mentor) told me a lady he knew spent $100,000 to get the MAI designation. :blink:

    On occasion we get reports done by a MAI appraiser and learn some new wording or explinations from them.
     
  9. Rick Davis

    Rick Davis New Member

    0
    Apr 19, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Indiana
    As a review appraiser for a large national bank, I would recommend not wasting the money for an AI designation. A licensed appraiser can push value, but so can an MAI.

    If you are really pushing for general certification, I would recommend pursuing your CPA and/or getting an MBA in Finance/Real Estate.
     
  10. Jim Onderisin

    Jim Onderisin Senior Member

    8
    Sep 15, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Say Rick, I'll bite. I've got an MBA in finance. What'll it get me?
     
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