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5 Year Outlook on the Appraisal Profession? Your Opinions Please

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
No, the MAI is more like a master’s in real estate, light on the campus setting but heavy on the applied work requirement. Also known as a ‘Minimum of Appraiser Intelligence’ in some circles, this opens the door to a $1,400 bill each new years day. How is that for smart! Already a general appraiser, the MAI work drills deeply into each valuation approach, and provides access to a valuation library for those late night perusals of rights theory. It is unlikely that work becomes so income bereft that the used house sales hat is attractive, but who knows what goes on in cornhusker land.
I have a lot of friends on the interwebsitethingy and I have been asked to look over four demonstration reports in the last decade (I am not MAI) and the work that goes into them is astounding and tiring just to read.

I know of no MAI that makes less than $200,000 per year from my small circle of friends.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
It is a private designation by a private society who isn't even part of the Appraisal Foundation any more. It doesn't even have the gravitas of the CPA designation. It is useful perhaps, in fact, probably, but it is expensive and it is not a good measure of "quality" when it involves either the common secondary market appraising nor when it involves a specialty like agriculture, etc. etc. Specialists need to be experts in their individual fields, not a generalist MAI designation.
The requirements to get it are extremely hard as are the classes; I have take some of those classes. Watched a guy in front of my cry during one of the tests about 12-15 years ago.

Useful? Very, the income potential is more than I can make with my CG without the MAI. Expensive? $1,500/year is not expensive. My SRA is close to that.

Agriculture properties are mostly not special if it is farm land. If it is a large dairy operation then the ASFMRA designation is more useful but from what I hear almost as challenging to get and costs $$/year to maintain.

I could teach any residential appraiser how to value farm land in less than a week.
 

WestMichiganCG

Sophomore Member
Joined
Sep 4, 2014
Professional Status
Certified General Appraiser
State
Michigan
The requirements to get it are extremely hard as are the classes; I have take some of those classes. Watched a guy in front of my cry during one of the tests about 12-15 years ago.

Useful? Very, the income potential is more than I can make with my CG without the MAI. Expensive? $1,500/year is not expensive. My SRA is close to that.

Agriculture properties are mostly not special if it is farm land. If it is a large dairy operation then the ASFMRA designation is more useful but from what I hear almost as challenging to get and costs $$/year to maintain.

I could teach any residential appraiser how to value farm land in less than a week.
I've had a hard time finding work that will pay a premium for my MAI. My brother is a Certified General and makes an equivalent amount. Neither of us are close to making $200,000. Banks don't charge extra for an MAI and private and governmental work can be spotty and sometimes less lucrative because of complex contract requirements. My guess is your MAI friends own larger firms, have real estate portfolios or are on the east side of the state. I know of an MAI's that was laid off because of recent slow downs. I don't think every area is going to pay an MAI more for the designation. Where do you see the income potential that is beyond your CG? Have you lost work because you weren't an MAI?
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Which will happen, exactly on the 6th Thursday of Never.
Why do you think those kinds of folks give so much to politicians? Does anyone think they are loyal to either party? They give to both sides, but weight the one they thought would win. That's why there were so many supporting the Democratic party. They thought Hillary would win...as long as the money continues to roll in, they have no real political bias, they just want to keep the quid pro quo.
 

Frank McKee

Sophomore Member
Joined
Jun 1, 2005
Why do you think those kinds of folks give so much to politicians? Does anyone think they are loyal to either party? They give to both sides, but weight the one they thought would win. That's why there were so many supporting the Democratic party. They thought Hillary would win...as long as the money continues to roll in, they have no real political bias, they just want to keep the quid pro quo.
Terrel, I believe you mean "status quo" here, not "quid pro quo".
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Terrel, I believe you mean "status quo" here, not "quid pro quo".
Nope, they intended to shovel money into these "charities" for access to the top of government. That is a payment to get preferential treatment. But when Hillary lost, they suddenly had no reason to give any money to the Clinton Foundation. Look at the numbers...Donations have crashed, so now Wall Street seeks to ingratiate themselves with the new winners. Now I assume you can make the case that it is the "status quo" for those with powerful interests to grease the palms of those that are in power...whatever.
 
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