MAI Designation Reciprocity

[Tiffany Gibbons]

If the IRWA would apply for class approval through the AQB CAP program most states recognize that as a basis for CE acceptance. Last I looked they had less than five approved. A lot of AI’s and McKissocks are on the list.

That's because there's no PAREA plan for Right of Way work. Most DOT appraisers use a narrative format, so no form fillers need apply. I took some of the courses as electives for my CG, but most everyone I know who earns an IRWA designation is already a licensed CR or CG when they start doing this type of work. I'm sure somebody takes the Appraisal 101 classes offered through IRWA, but it's probably for administrative types or internships.

 

[Deleted member 161486]

MAI is a brand sold for years and no one else's designation is truly of the same level of salesmanship.

There are other designations. The ASFMRA offers an ARA for rural appraisers. The ASA offers the ASA designation. While these are comparable in terms of obtaining, none have the panache of the MAI. All the other designations are nothing burgers that have very little recognition in the banking industry.

Other very credible, valid and recognized commercial appraisal designations include MRICS, CRE, ASA, CCIM, CAE, ARA and GAA.
These are from national and global real estate organizations with large memberships and most are sponsor members of The Appraisal Foundation.

 

[Gobears81]

A lot of negativity for AI on AF, and some of it is deserved, especially in light of what has happened recently. But, getting an MAI isn't some walk in the park. Glad to have gone through the process, and I learned a lot in doing so.

 

[Deleted member 161486]

I've never run across any other designations at banks, smaller community banks usually have a schmuck in place ordering appraisals and that's where non-designated commercial appraisers get most of their bank business. Other designations are a big nothing burger because MAI's at banks hire other MAI's. And I witnessed the MAI club politics up close. A commercial guy with the bank for 15 years wasn't even considered for a promotion by the MAI chief appraiser, an MAI with no banking experience was hired at 25% higher salary and he placed him in a leadership position over the non-designated guy. The cherry on top was the titles and perks that were given on day one despite bank policy stating certain experience requirements were to be met for those titles/perks. Anyway, nothing new under the sun.

Yes way too much emphasis placed on the MAI. I have found that much of the content taught by the AI is theoretical and very academic, but not practical for valuation. There are several other credible designations that deserve recognition within banking. And, banks should know that the MAI is not a license; it is not required to be a certified / licensed appraiser.

 

[George Hatch]

[shrugs]
The users want what they want. It ain't that deep. Complaining that they don't want you isn't a productive use of your time/effort. If you can't beat the MAI club then perhaps more productive to join them. Or not.

Make a choice, then resolve to live with its outcome without complaint.

(I decided early on that I didn't want to join them, so I didn't)

 

[Terrel L. Shields]

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

And nobody from any bank has ever asked if you were an ASA or a CCIM. They only will occasionally ask if you were an MAI. I've never been asked about any other designation except MAI in over 30 years as an appraiser. I've even been rejected for not being an MAI to testify on mineral rights even though I've written a book about it and I taught classes on mineral rights for 10 years. And the one testimony by an MAI I know of was so fraudulent it was laughable. He simply said there was a 50/50 chance it had natural gas under the property, and a well making 5 BCF of gas sold for X dollars per MCF and therefore, the property was worth 5 BCF x price x 50% and he even F'd that up. That was 30 plus years ago and guess what? That property has never been drilled yet and isn't likely to ever be drilled. But a city had to pay $35,000 for one acre of "mineral rights."

 

[Deleted member 161486]

And nobody from any bank has ever asked if you were an ASA or a CCIM. They only will occasionally ask if you were an MAI. I've never been asked about any other designation except MAI in over 30 years as an appraiser. I've even been rejected for not being an MAI to testify on mineral rights even though I've written a book about it and I taught classes on mineral rights for 10 years. And the one testimony by an MAI I know of was so fraudulent it was laughable. He simply said there was a 50/50 chance it had natural gas under the property, and a well making 5 BCF of gas sold for X dollars per MCF and therefore, the property was worth 5 BCF x price x 50% and he even F'd that up. That was 30 plus years ago and guess what? That property has never been drilled yet and isn't likely to ever be drilled. But a city had to pay $35,000 for one acre of "mineral rights."

Yes, 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.

 

[Terrel L. Shields]

Amazing. We were discussing that a few years ago in an appraisal group meeting and no one could recall anyone asking about anything but MAI. Let's do a poll.

 

[Deleted member 161486]

Amazing. We were discussing that a few years ago in an appraisal group meeting and no one could recall anyone asking about anything but MAI. Let's do a poll.

What group meeting was this?

 

[Terrel L. Shields]

What group meeting was this?

NW Ark Appraisal Section - we are non-affiliated.