Opinion: Does it pay to have an MAI?

[Pittsburgh Pete]

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.

Yah, ya never know when hundreds of MAIs might decide to send photos of their "junk" over Twitter!

Anything forming should take 30-40 years to take hold--hedge your bets!

 

[John Glass]

I finished the designation process last month. Wheeeeeew!! It is definately worth the effort. An AI Regional Rep sent me sent me the following when my designation was confirmed:

"There is a saying that goes 'In life the journey is the reward.' Well, in this case the reward is the reward. Congrats!"

 

[JSmith43]

Anything forming should take 30-40 years to take hold--hedge your bets!

Hyundai started selling cars in the USA 25 years ago. Their negative reputation probably peaked around 2000, about the time they were making substantial progress turning things around.

In about 11 years, their reputation went from just above Yugo to a top contender.

It's not like I was speculating wildly about the future of zones

 

[GCJim]

The MAI is a very good designation to have.
That being said, I have been able to successfully sell myself when asked if I are one, and I ain't one (yet----maybe, maybe not, as there are other designations, and one of them I would ALSO like to have. I have been asked maybe twice in the last 5 years).

The AI is fanastic for education. If one has a good foundation, though, and can read, I believe that there is loads of relatively inexpensive knowledge to be had for the cost of some books......

Others have said that marketing made the difference for the MAI. I am sure that some very good MAI's helped also. But remember, like every other profession, there are the good ones, and there are the not-so-good ones.

Good luck!

 

[Pittsburgh Pete]

Hyundai started selling cars in the USA 25 years ago. Their negative reputation probably peaked around 2000, about the time they were making substantial progress turning things around.

In about 11 years, their reputation went from just above Yugo to a top contender.

It's not like I was speculating wildly about the future of zones

Yeah, I can see the MAI becoming the Yugo of the 22nd Century!

Speculate all you'd like on the zones--taken longer than expected but you will ultimately be surprised.

 

[Mr Rex]

Pete, are you an MAI? Does the AI allow folks gullible enough to buy into Zone theory into the MAI track? If so, how many hell mary's do you have to say and how much is the buy in?

 

[JSmith43]

I was copying REX, since he gets under your skin. He pesters you about zones now & then, so I thought it might be effective.

You see, I wasn't calling out AI or the MAI designation as having a shaky future. One's own professional development should be paramount. Documenting that development, a close second, IMO.

However, it is kind of silly to put a private professional organization and designation on an alter that people bet their financial future on, without contemplating that the one thing that can be counted on is change.

There are more pressing things for most of us to be concerned about than the future branding power of the MAI designation. But, I bet Arthur Anderson never saw it coming.

F & F in conservatorship by 2008 was probably hard to imagine for some politicians in 2006.

 

[stangtime]

Just curious, what is the annual cost to maintain the MAI designation? Last I heard it was around $800 a year? What are the other requirements to maintain it? Do you have to take AI classes across the country? What do those AI classes cost?

For those that want to do narrative commercial work it can certainly pay off. I've worked with and know of a few MAIs around here and they have done extremely well financially over the years. A couple of them were odd people, extremely smart, but kinda odd. Anyhow, if you want to do residential work, it's overkill. Work loads are light right now. As things pick up over the next few years (yes, I'm in the camp that believes things will eventually pick up and that the appraisal profession is not going away), fewer appraisers will be around and even commercial assignments will be more obtainable to qualified CGs even without the MAI.

Dan

 

[Mr Rex]

The real question is : What premium can MAIs charge above their simple State Certified Generals for the same work(and still get the work), and how much work is only available to MAIs? Going forward will this effect remain stable, increase, or decrease? Given recent set backs to the AI from the powers to be (the slap fest with the AF) may indicate a dimunation of power of the AI going forward, deliberately so from the power players at the top of the food chain. I dunno, but the AI flexed their muscles, and the AF said we don't need to see your weiner (to bring things up to current affairs) in so many unwritten and uncertain terms.

 

[Joyce Potts]

It depends on what he look like.