Appraisal Designations = Several Good Options

[Deleted member 161486]

For anyone new to the profession, those in banking, and for those considering working towards a designation, there are several very credible and valid designations that Real Estate Appraisers may obtain.
Additionally, keep in mind that a Certified General Appraisal License, Certified Residential Appraiser, and Licensed Residential Appraiser are the required licenses to perform real estate appraisals. Designations are potentially good add-ons, but they are not required by law.

These designations are with national and global real estate organizations and most are sponsor members of The Appraisal Foundation.

Commercial appraisal designations include:

MRICS - Royal Institution of Chartered Surveyors (RICS)
ASA - American Society of Appraisers
CCIM - CCIM Institute
CRE - Counselors of Real Estate
MAI - Appraisal Institute
CAE - International Association of Assessing Officers (IAAO)
ARA - American Society of Farm Managers and Rural Appraisers
GAA - National Association of Realtors
FRICS - Royal Institution of Chartered Surveyors (RICS)

Residential appraisal designations include:

ASA - American Society of Appraisers
RAA - National Association of Realtors
SRA - Appraisal Institute
RES - International Association of Assessing Officers (IAAO)
ARA - American Society of Farm Managers and Rural Appraisers

All of the above are valid, credible and recognized credentials.

 

[Terrel L. Shields]

and again, nobody is going to ask you if you have an RAA nor a GAA...Other than MAI, perhaps, just perhaps in big farm country, a farm lender might ask if you have an ARA. But I have never been asked anything except the MAI question.

 

[Deleted member 161486]

and again, nobody is going to ask you if you have an RAA nor a GAA...Other than MAI, perhaps, just perhaps in big farm country, a farm lender might ask if you have an ARA. But I have never been asked anything except the MAI question.

In fact, bank employers and staff have asked me about these other designations - and the other designations are known as credible. The MAI is not the be all - end all.

 

[Dublin ohio]

In fact, bank employers and staff have asked me about these other designations

In what context?

 

[Deleted member 161486]

In what context?

In the context of trolling other people's posts.

 

[Surf Cat]

Residential appraisal designations include:

ASA - American Society of Appraisers
RAA - National Association of Realtors
SRA - Appraisal Institute
RES - International Association of Assessing Officers (IAAO)
ARA - American Society of Farm Managers and Rural Appraisers

All of the above are valid, credible and recognized credentials.

So what would said designations get the Res. Appraiser from an AMC standpoint? Another $20 bucks?

 

[Deleted member 161486]

So what would said designations get the Res. Appraiser from an AMC standpoint? Another $20 bucks?

That depends on how you market yourself, and your ability to manage your business.

 

[Essexfenwick]

the SRA is most valuable in down times for legal, and difficult or high dollar jobs. In good times it’s not an advantage. In my opinion the need for residential appraisers declines and the licenses are cheapened the designation will return to some of its its pre-licensing necessity. A.I. is definitely aiding in industry developments that facilitate this path.

 

[Essexfenwick]

That depends on how you market yourself, and your ability to manage your business.

I average a $625 appraisal fee from during the slowdown from AMC’s. I’m an SRA and do bid on some but most are direct orders. I do find they are usually high dollar or have some quirk but are generally easy. I get legal work, direct lending work and AMC work and have been averaging 40 appraisals a month during the incredibly slow period. The SRA helped me raise fees. A good example is situations where I have a loan officer I know who moves to a new lender with a round robin of a panel that an AMC manages. I’ll say get me on the list and if the list is full or they aren’t adding anybody, tell them they need an SRA in the list with more credentials in case something complicated comes up. After I get on I ask my guy to tell the AMC that when my name comes up in the round robin to pay me more since I’m an SRA and they need me on the panel.

It’s marketing at a cheap price and low effort.

 

[Deleted member 161486]

I average a $625 appraisal fee from during the slowdown from AMC’s. I’m an SRA and do bid on some but most are direct orders. I do find they are usually high dollar or have some quirk but are generally easy. I get legal work, direct lending work and AMC work and have been averaging 40 appraisals a month during the incredibly slow period. The SRA helped me raise fees. A good example is situations where I have a loan officer I know who moves to a new lender with a round robin of a panel that an AMC manages. I’ll say get me on the list and if the list is full or they aren’t adding anybody, tell them they need an SRA in the list with more credentials in case something complicated comes up. After I get on I ask my guy to tell the AMC that when my name comes up in the round robin to pay me more since I’m an SRA and they need me on the panel.

It’s marketing at a cheap price and low effort.

Thanks for sharing this experience; it is another good example of the value of a designation.