MAI - Is it worth it?

[Vernon Martin]

Especially, when I move to Turks & Caicos in approximately 5 years and possibly appraising in the islands part-time.

- Ray

Are you aware of the UK working visa requirements? Also, consider that the population is only 46,000.

One Caribbean island I've found that has a severe shortage of appraisers is Puerto Rico, and any U.S. citizen can work there.

 

[Kali the Boston Terrier]

If that's what you're shooting for, I'd go for the MRICS instead. Most of the islands have European roots and a RICS designation would be more helpful than the MAI.

RICS has done me no good in the islands, only Europe. I couldn't find a RICS to save my life in Costa Rica, Aruba...etc.

I love my RICS (and hope to upgrade to FRICS this year) but its effectiveness is limited outside of Europe.

 

[tsiegel]

Are you aware of the UK working visa requirements? Also, consider that the population is only 46,000.

One Caribbean island I've found that has a severe shortage of appraisers is Puerto Rico, and any U.S. citizen can work there.

I am not sure that I would mind doing appraisal work in Puerto Rico. Does anyone know which banks are down there? I should get on their list.

 

[rbrienza]

Veron,

Im just in the starting stages of looking into the requirements ... I also teach scuba diving -

 

[Ken B]

I am not sure that I would mind doing appraisal work in Puerto Rico. Does anyone know which banks are down there? I should get on their list.

The bigger question is how much are you willing to pay for comp data from the locals?

 

[Vernon Martin]

Appraise in Mexico

Veron,

Im just in the starting stages of looking into the requirements ... I also teach scuba diving -

I'm a scuba diver, too.

Cozumel and Mexico's Riviera Maya might be a good place for appraising and scuba diving. I sometimes get appraisal requests from Americans who have properties there, but most of the requests (condos and residential lots) are too small for me to fly there from LA, so I must turn them down. If I knew a reliable appraiser who was fully domiciled there, this could be an opportunity.

http://www.internationalappraiser.com/2011/11/condo-project-appraisal-in-cozumel.html
http://www.internationalappraiser.com/2012/11/la-riviera-maya-ruins-from-post.html

 

[John Glass]

I am not sure that I would mind doing appraisal work in Puerto Rico. Does anyone know which banks are down there? I should get on their list.

Here is a thought......


http://www.appraisalinstitute.org/profession/jobsearch/positions_available_detail.aspx?id=13379

 

[Vernon Martin]

Here is a thought......


http://www.appraisalinstitute.org/profession/jobsearch/positions_available_detail.aspx?id=13379

I see that the position is in the British Virgin Islands and the employer is an RICS-regulated firm, yet they require an MAI designation. When I worked for an RICS-regulated firm, there was a similar emphasis on the MAI designation.

 

[Mountain Man]

All this talk of island appraising is seriously making me want to move up my retirement plans.

 

[Rouster]

Lenders are prohibited from selecting appraisers solely based on their membership in an organization; see FIRREA Section 1122(d). However, it may be one of the considerations.

If you ever check the regs of the appraisal departments for some lenders, they state (for a commercial appraisal) they can only bid out reports to MAI's...Some AMC's (on their approved appraiser packet) will ask if you are licensed, certified, or an MAI.. (that is there will be boxes to check).....However if you are realistic there are only a very few designations for a commercial appraiser that carry much weight; MAI and to a somewhat lesser extent the ASA....