CCIM or MAI or how about, both?

[EquianAvante]

I just passed my trainee exam and I have submitted my CA sales agent packet for examination. My plans were to become the developer for strong and happy families. I want to build and finance affordable and green housing projects for all of America. Now, I know for a fact the Forbes top 100 in America, most of whom who do not even possess designations or degrees nonetheless, are producing this countries GDP. I want to be the best and I want to create win/win situations for everyone I do business with. My question is, how important is the CCIM or the MAI in regards to what I am trying accomplish? It sure does sound nice, but the question is, will it afford me enough leverage to get my family, esteemed colleagues and I to the top? Just because I am compassionate doesn't mean I want to get took, will these designations allow me the knowledge to craft a better world? Any insight will be appreciated.

 

[Irene Thompson]

In our area we are seeing more and more third party companies ordering and reviewing appraisals on behalf of local banks. In this regard, they are often limiting who they send assignments to MAI appraisers. As OCC regulation continue to stiffen as a result of recent market activity, I see this continuing to be a factor. As such, an MAI designation is certainly not going to hurt and in a competitive market, it will get your foot in the door with many of these third party participants.

 

[Kali the Boston Terrier]

I don't know too many rich appraisers...regardless of designation. As far as the CCIM goes, most who have that are real estate brokers (although many appraisers have it)...I know some wealthy brokers, but definitely not rich. So if you think any of these designations will help you to become rich you may have some unrealistic expectations for the business you are getting into.

However, I am positive that both tracts will teach you the ins and outs of income valuation far better than most in the industry. However each designation teaches a different side of the same coin. CCIM is better for income recapture, and demographics and how they relate to value. Remember CCIM was created for brokers, although those same principles are great for appraisers, it is not framed in the context of USPAP, FIRREA, GSE, or any of the other great regulations we have.

MAI is meant for appraisers, it is a great tract to learn how value interweaves through the market. Going this direction usually helps an appraiser learn entrepanuarial incentive and profit weaves through the discounted cash flow and cost approach, and eventually the sales comparison approach. The MAI tract as of recent has almost uncomfortable obsession with detailed market analysis. So most of us newer recruits are obsessed with market analysis...which is not a bad thing.

Either way it will not hurt to make you a better appraiser/broker, what you do with it is more of a reflection of you then the designation so don't wait on being on the Forbes 100 till you have those designations

 

[Don Jones]

“will these designations allow me the knowledge to craft a better world?”

No. The knowledge and skills you will need to acquire in order to obtain these designations should make you a better appraiser.

 

[matt hawk]

What you need to develop property is a high tolerance for risk and good credit.

 

[CBBoston]

If you are going to be a developer neither designation as such will be an advantage. That said, you will find certain course in either track that will be benificial. I have a hard time seeing lenders much caring if you have either designation and don't see buyers caring at all. What both designations ignore is basic business principles. If I was you I would cherry pick CCIM and Institue courses and find some practical business course (basic accounting, finance and marketing. Most college course are a bit too abstract to be useful in the short run but are better than nothing. Also the NAHB probably has some very useful courses.

 

[PL1957]

If you are going to be a commercial appraiser, the only designation that adds value is the MAI. I have never heard of a client asking for any other designation.

 

[Michigander]

The CCIM might open doors for you with brokers being willing to share more information. The MAI is a commercial appraisal designation. I know of appraisers who have both and have told me that the CCIM offers very practical courses of commercial knowledge related to sales and valuation but the MAI is appraisal specific. Nothing stopping you from pursuing both.

 

[Howard Klahr]

If you a looking to focus on real estate development, you should consider the real estate school program put on by the Urban land Institute.
ULI Real Estate School

 

[EquianAvante]

WOW, my head feels as if it will explode, I can hardly handle the extremity of the wisdom uttered in this thread. Thank you all for responding! I will pursue both, I feel so far behind!