Opinion: Does it pay to have an MAI?

[TianaR]

Hi All:

I am a general appraiser in NY and have been practicing for 6 years. I recently have been taking the steps towards my MAI and wanted any opinions on wether or not other appraisers feel it is worth obtaining?

 

[PropertyEconomics]

For all intents and purposes ... the MAI is the only designation that really matters in the Appraisal world.

I strongly urge you to obtain it and offer you my congrats on your continued efforts.

 

[Financially Feasible]

I can't remember the last new client that we obtained whose first question was anything else but "do you have an MAI?"...

Similar to what PE said, the MAI designation is "it" in the appraisal industry. Everything else is supplementary. NOTE: This is not a personal attack on anyone with any other designation or an attempt to degrade any other designation, I'm merely stating my experiences from my clients' perspective.

One of the reviewers that I deal with (who is a SHARP cookie) recently received her MAI. Her best advice to me was to read, and then re-read, the demo requirements and follow them to the letter.

Best of luck to you.

 

[PL1957]

I have frequently been asked if I have the MAI designation. I have never been asked if I have any other designation. Draw your own conclusions.

 

[Lost Cause]

I believe it is well worth the effort.

 

[Kali the Boston Terrier]

I believe its well worth it, I also believe it is what you make with it too. There are some people who think that they are entitled to something because of it, there are others who would have been successful without it.The designation doesn't make the appraiser, but it sure helps.

 

[The Warrior Monk]

Here in NY, attorneys most definitely ask for it, especially on the big cases. We've lost plenty of work, even on residential assignments, because nobody here has a MAI designation. It is also preferred for various municipal assignments (state, U.S. government, etc.), as well as for various corporate jobs.

 

[Pittsburgh Pete]

It will open many doors to you!

 

[Terrel L. Shields]

It is expensive and at my age I don't want to waste what little time I have left obtaining such a designation, but if you are under 50, it's probably economic to do so...and like the others said, there is no other designation that anyone will ever ask for. AI marketed it well. They should do so well for the SRAs

 

[JSmith43]

It's clearly a great designation to have, now.

Some things to consider:

Political risk: AI got suspended from the Appraisal Foundation. Disagreements happen.

Risk of scandal: Where did those big Eight accounting firms go? I think it is the big 3 or 4 now. Who would have thought this would happen?

Bigger they are, the harder they fall.

Competitive designation: I don't see anything on the horizon, but that doesn't mean it isn't forming. What if a bunch of MAIs split off after a scandal and formed a competing organization? Black Swan events are possible.

AI is in the best position right now. The MAI designation branding is in good shape. But, there is lots of on going litigation & one never knows.

Go for the MAI, but, as always, have a few back up plans.