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Whoa. Good news for MAI candidates!

Discussion in 'Commercial/Industrial Appraisals' started by Roger Murdock, Nov 17, 2011.

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  1. Roger Murdock

    Roger Murdock Junior Member

    0
    Apr 19, 2005
    Professional Status:
    Certified General Appraiser
    State:
    New Jersey
    From an AI email I received today:

    Complete the demo requirement for your MAI Designation in 2 months!

    General Demonstration Report-Capstone Program

    This new program requires the same skills and knowledge base as the traditional demo requirement to produce a complete demonstration appraisal report. However, this program was designed to offer an option that accelerates the completion of the report. Instead of selecting and compiling data on a property, participants are provided with a subject property and data to analyze and then write the report in a limited time span of approximately two months.

    The program is structured as follows:

    Timeframe to complete program & demo report

    Days 1-21: Download materials, begin review of materials
    Day 22: WEBINAR #1: Introduction to Program & Intro to Fundamental Market Analysis (1.5 hours)
    Days 23-38: Complete assignment: Fundamental Market Analysis
    Day 39: Assignment due
    Day 47: WEBINAR #2: Feedback on Fundamental Market Analysis (1 hour)
    Days 48-66: Continue working on other parts of the report up to HBU
    Days 67-73: CLASSROOM SESSION
    Day 73: General demonstration report due at noon

    Participant deliverables

    Submit pre-class assignment (Fundamental Market Analysis)
    Submit assignments at end of each day to gauge progress
    Finish all sections of the demonstration appraisal report by noon on 7th classroom session day

    NOTE: A minimum of 100-140 hours is expected to successfully complete this program. During the 7-day classroom session, participants should expect to work on their reports after the 7-hour days spent in the classroom. That week, 10-12 hour days will not be unusual.
     
    Last edited: Nov 17, 2011
  2. rbrienza

    rbrienza Member

    2
    Sep 16, 2007
    Professional Status:
    Certified General Appraiser
    State:
    Colorado
    What are the requirements before you can attend the demo program?

    -Ray
     
  3. Roger Murdock

    Roger Murdock Junior Member

    0
    Apr 19, 2005
    Professional Status:
    Certified General Appraiser
    State:
    New Jersey
    The following prerequisites that must be completed in order to register:

    Advanced Market Analysis/HBU OR equivalent
    General Demonstration Appraisal Report Writing seminar (available online) OR General Demo Report Writing Workshop (within the last 24 months)
     
  4. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    315
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Sure helps in the real world doesn't it? How many clients give you 2 months to complete a report ... oh well. :)
     
  5. Walter Kirk

    Walter Kirk Senior Member

    11
    Jun 24, 2003
    Professional Status:
    Licensed Appraiser
    State:
    New Jersey
    Finally a realistic approach to demo reports.
     
  6. Pittsburgh Pete

    Pittsburgh Pete Elite Member

    48
    May 6, 2008
    Professional Status:
    Certified General Appraiser
    State:
    Pennsylvania
    On larger projects a two month timeframe isn't unrealistic.

    Most say that they never ever again write anything as involved as their demo report--2 months is a relatively short timeframe for such an endeavor.
     
  7. Mountain Man

    Mountain Man Elite Member

    25
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Georgia
    That's what I was thinking... 2 months for a demo report that is truly a self contained? One would have to save up $$$$$ to almost be able to take a month and a half off work just to do the demo. It's intense and many don't make it with their first draft of the report.
     
  8. PL1957

    PL1957 Senior Member

    16
    Jul 19, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Illinois
    Mine took me three years ...
     
  9. Ed Falkowski

    Ed Falkowski Senior Member

    2
    Jun 25, 2007
    Professional Status:
    Certified General Appraiser
    State:
    Pennsylvania
    I think that 2 months to write the demo report is more than sufficient time. The hard part is typically gathering data. Since the data is provided to you, you just need to assemble, sort, analyze and report it using your knowledge. Most people drive themselves batty just finding a property which would be demo worthy and then getting all of the needed data.

    I had one client tell me it took her 10 years (couple of kids, too much work, etc). I am heeding her advice to not put it off... my kids are 3 years and 3 months old, respectively. I know that I can easily get caught up in that trap!
     
  10. Ken B

    Ken B Elite Member

    94
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    I'm not aware of the nature of the data provided for this alternative, but I did take the SRA demo alternative and yes, they provided me with a package containing the data necessary to complete the report.

    However, that data was in no particular order, there was substantial irrelevent data to sort out, and after the relevent data was gleaned from the chaff, there was still plenty of analysis that was required.

    And isn't a demo report about one's ability to organize, analyze, draw reasonable conclusions based upon that analysis, and then coherently report the analysis and conclusions? A "real world" demo report writer could very easily have an assistant collect a bunch of data for the writer to sort, analyze, etc, etc.

    It was also reported that grading of the report produced in the SRA demo alternative course was more stringent than grading for a traditional demo. However, I don't know if this was factual or not.

    But, as was the case with the SRA demo alternative, I'm sure there will be MAIs who know absolutely nothing about the work required for this demo "course", yet will proclaim their superiority because they did it the "hard way."

    I'm pretty sure that, as part of the transition to a "professional society", AI will create a designation considered "superior" to the MAI designation; something to match the requirements for a FRICS designation.
     
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