Opinion: Does it pay to have an MAI?

[PL1957]

Wow! Quite the picture painted with a broad and idiotic brush! So you write doctoral a doctoral thesis of an appraisal? Please post one--would love to see it.

I would think the doctoral thesis appraisal would be a slam dunk to use for a demo. Maybe he should just submit it and get his designation ...

 

[Pittsburgh Pete]

.for now...the public thinks MAIs can wipe their rears with a HP12-C, smear it on a paper and call it superior.

So there ya go. The AI must be doing something right. Feces onto a HP and onto paper trumps Lawrence. Good marketing AI!

 

[nachocheesefries]

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?

I read only the first page of responses to this thread so forgive me if someone else shares my opinion. I too am working on my General and I am undicided about whether or not to pursue the MAI. For now, I am of the opinion that within the next 10 years there will be such a shortage of General Certified Appraisers that most clients won't have the option to insist on MAI designation when picking an appraiser for an assignment....just my opinon.

 

[Pittsburgh Pete]

I read only the first page of responses to this thread so forgive me if someone else shares my opinion. I too am working on my General and I am undicided about whether or not to pursue the MAI. For now, I am of the opinion that within the next 10 years there will be such a shortage of General Certified Appraisers that most clients won't have the option to insist on MAI designation when picking an appraiser for an assignment....just my opinon.

It will still set you apart from the balance of the diminishing appraiser pool. Quality of assignments you will be asked to bid on will go up as well.

 

[residentialguy]

Every time some Drunk and mentally disabled appraiser puts some drivel on a piece of paper and signs it, Skip skipperson, MAI...I have to explain for 10 hours to a judge why my doctoral thesis of an appraisal is superior to his name even though he appraised the wrong property.

So yeah...for now...the public thinks MAIs can wipe their rears with a HP12-C, smear it on a paper and call it superior.

Hmmm....Would that be someone that states there are no sales within the prior 3 years when, in fact, there was one?.....or someone that puts the wrong person as the current owner?...........or someone who puts an unsupported value to the subject lot when available lot sales were lower priced?.......or someone that selected comps outside of the neighborhood from superior neighborhoods with no adjustments that were in excess of $200k when all sales in the subject neighborhood sold under $160k?.....would that be someone in S Carolina that was found guilty of these offenses by the appraiser board?

 

[spieldberg]

From what I understand the MRICS is a strong up and coming designation, and the ASA is solid. Both are sponsor members of the Appraisal Foundation. Visit their websites and call their membership departments for more information. In my opinion, in the future the MAI will not be the only game in town.


"The RICS designation ( Royal Institution of Chartered Surveyors) is the most known Internationally especially in UK and other countries. They have about 120,000 members, dates back to 1885. The RICS accepts credit from approved Universities rather than offering its own courses.

I have also held the ASA designation. It is the best for business appraisers. It dates back to the 1930's."







QUOTE=Mentor;2135420]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.[/quote][/quote]

 

[Kali the Boston Terrier]

From what I understand the MRICS is a strong up and coming designation, and the ASA is solid. Both are sponsor members of the Appraisal Foundation. Visit their websites and call their membership departments for more information. In my opinion, in the future the MAI will not be the only game in town.


"The RICS designation ( Royal Institution of Chartered Surveyors) is the most known Internationally especially in UK and other countries. They have about 120,000 members, dates back to 1885. The RICS accepts credit from approved Universities rather than offering its own courses.

I have also held the ASA designation. It is the best for business appraisers. It dates back to the 1930's."

I hold both the ASA and MRICS, and I will still get my MAI. Each designation has its own unique benefits. Its like debating what is better milk or water, well both are drinks right? My ASA has opened up more doors in the accounting world, than MAI ever would have, My MRICS gets my calls returned from the Czech Rep., France and Germany and a network of professionals whom I can call and get help from.

The MAI is still important in the States, just yesterday I was reading a lease that required an MAI to determine Fair Market Rent at renewal. I see that claus ein almost every lease I read. I sure do not see any other designations, or certified general in those clauses. Fed gov't requires it for some contracts, many judges and attorneys only want to hear from MAIs.

They are all good, they all contribute something, frankly they are all marketing tools...I have had a positive return for each designation so far. I've yet to lose something.

 

[Lawrence R.]

Hmmm....Would that be someone that states there are no sales within the prior 3 years when, in fact, there was one?.....or someone that puts the wrong person as the current owner?...........or someone who puts an unsupported value to the subject lot when available lot sales were lower priced?.......or someone that selected comps outside of the neighborhood from superior neighborhoods with no adjustments that were in excess of $200k when all sales in the subject neighborhood sold under $160k?.....would that be someone in S Carolina that was found guilty of these offenses by the appraiser board?

You speak of things you know nothing of. That--thing-- you see there? Was the best thing that ever happened to me. I had been appraising all of about 15 minutes...was totally being sent down the wrong road by a horrible mentor. I took a year off of appraising to decide if there was any way to actually move forward in this joke of an industry. I decided there was, and I spent almost another year searching for a mentor that was competent and ethical. Almost gave up that search as well. The bottom line is that report--all I really did was sign it. I was under the mistaken impression that if you had a license to appraise, you knew what you were doing. Also, resguy, if you had joined this forum earlier, you would find a post about this very thing, written and brought up by yours truly. I don't hide from it. I learned from it. I became basically OCD about appraisal regs, joined this and other forums and societies, and made a positive out of a negative.

That same board... granted my CG and just licensed me to teach. So, yeah...the same one.

BTW, please note that NOW...as a well qualified and educated person...that reviewer would have been the one getting sanctioned...NOT me.

Though it was 7 years ago, I remember it like yesterday...best day of my life.


Was I supposed to be embarrassed by that? Sorry.

Edited to add: You won't find my mentor's name there for this offense. He turned in his license. I received the lightest penalty ever given out. Everyone involved knew the deal...Except for you.

 

[residentialguy]

Good, I'm glad for you. With that, you might want to try a little humility and humbleness about you instead of blasting such a hypocritical sounding post like this one.

Every time some Drunk and mentally disabled appraiser puts some drivel on a piece of paper and signs it, Skip skipperson, MAI...I have to explain for 10 hours to a judge why my doctoral thesis of an appraisal is superior to his name even though he appraised the wrong property.

So yeah...for now...the public thinks MAIs can wipe their rears with a HP12-C, smear it on a paper and call it superior.

 

[Lawrence R.]

Good, I'm glad for you. With that, you might want to try a little humility and humbleness about you instead of blasting such a hypocritical sounding post like this one.

No sir, there is nothing hypocritical about this post. I stand by it. The MAI designation is so strong that people will disbelieve their own eyes, given all evidence to the contrary and assume that a report signed by an MAI must be true, since a MAI signed it.

What if I told you my first mentor was an MAI, would that make it seem less hypocritical?

And, if I were still that rookie appraiser who let other people do the thinking for me...I would be embarrassed. Or, if I were currently a MAI, and put forth that kind of work. You are making my point. You were all too willing to paint me as a criminal for getting caught doing what I see all sorts of appraisers...MAI and otherwise...exceed on a weekly basis and have the nerve to pretend like they know what they are doing. If you can get your MAI...and you are putting out that kind of work...I would argue you know full well you are doing it. Unlike someone like the person I was at the time.