Poll: Why should a Commercial Real Estate Appraiser get a designation?

[Deleted member 161486]

Well I have the ASA and CAE, is there a prize?

Yes you get the best appraiser of the Year award.

 

[Deleted member 161486]

Your poll asks the questions without an accurate response for everyone. For most of us, none of those apply.
Before licensing, it was the way to go. And a lot of people locally who were brokers (the other requirement) 'certified' through folks like the NAREA - famous for "designating" Tobias the Cat - a real cat in case you never heard the story. NAREA is still around, and you can get your CREA for what little it is worth. Or, you could have joined the NAMA and became a Master Appraiser ... until all the Dean family died. No Nama Nomo.

Your reputation is not enhanced by simply becoming a 'designated' member of anything. Your reputation depends entirely upon your work. No one uses you on the strength of your authority via a designation.

You said "For most of us, none of those apply" - I disagree with you. It sounds like you are of an opinion that you do not want a designation, and never had one.
So that is fine for you, but many other appraisers have designations, and others want to pursue a designation for their career

 

[George Hatch]

"Most" has an actual meaning in the English language.

IMO, merely holding an MAI (or a license or any other credential) might get you additional access to certain types of clients and assignments, but keeping clients and generating repeat business is where the money is at in this occupation. And establishing those long term relationships is primarily dependent upon your reputation for personal integrity WRT objectivity and impartiality as well as the overall quality of your work. IRL, some MAIs have much stronger reputations than others, same as can be said for all the alternatives. Sole reliance on the designation is an expression of the argument to authority (trust my credentials), not the argument to reason (trust my work if it makes sense to you). There's nothing wrong with clients doing both, which I think actually happens far more often than not with certain types of clients.

Who believes you, who trusts you, who thinks they can rely upon you to call balls and strikes over the plate? That's where your professional reputation comes from.

 

[Deleted member 161486]

"Most" has an actual meaning in the English language.

IMO, merely holding an MAI (or a license or any other credential) might get you additional access to certain types of clients and assignments, but keeping clients and generating repeat business is where the money is at in this occupation. And establishing those long term relationships is primarily dependent upon your reputation for personal integrity WRT objectivity and impartiality as well as the overall quality of your work. IRL, some MAIs have much stronger reputations than others, same as can be said for all the alternatives. Sole reliance on the designation is an expression of the argument to authority (trust my credentials), not the argument to reason (trust my work if it makes sense to you). There's nothing wrong with clients doing both, which I think actually happens far more often than not with certain types of clients.

Who believes you, who trusts you, who thinks they can rely upon you to call balls and strikes over the plate? That's where your professional reputation comes from.

I agree with you. The most important factor is Appraisal Licensing and the quality of our work, regardless of whether or not someone is designated.
It seems to be ridiculous that the Appraisal Institute gives the impression that they are the only ones with a designation. There are several other good credible appraisal organizations and designations are available for appraisers to participate in, who are also sponsor members of the Appraisal Foundation.

 

[George Hatch]

Be serious. Do you take exception to cats acting like cats, too? Do you criticize cats for not acting like cats in order to elevate the interests of their competition in the mice-control business? On the altruistic basis, that is?

What do you expect the AI to do? The AI is in business to promulgate the interests of their members and market their brand so that appraisers will opt into their program, purchase their education, pay their dues and so on. They are advocates for their members. (or so goes their official party line).

No appraiser controls their clients or employers or dictates terms to them WRT what they can and cannot do when it comes to choosing an appraiser for an assignment. It's not the AIs fault that certain types of clients choose not to do business with non-AI appraisers. Those clients chose those preferences by their own hand.

This whole discussion reminds me of the single mom of 4 who is a 5/10 getting mad at Leonardo for dating 23yr old models. Which he does because he can.

"No, Miss Jones. Even if you do rate yourself as a 10/10, your appeal to Leonardo is based on his opinion of you, not your opinion of you."

 

[Essexfenwick]

It’s about committing more completely to the profession and separating yourself from the rabble. MAI and SRA give more staying power in appraisal. With declining future volume they are an anchor.

 

[Deleted member 161486]

Be serious. Do you take exception to cats acting like cats, too? Do you criticize cats for not acting like cats in order to elevate the interests of their competition in the mice-control business? On the altruistic basis, that is?

What do you expect the AI to do? The AI is in business to promulgate the interests of their members and market their brand so that appraisers will opt into their program, purchase their education, pay their dues and so on. They are advocates for their members. (or so goes their official party line).

No appraiser controls their clients or employers or dictates terms to them WRT what they can and cannot do when it comes to choosing an appraiser for an assignment. It's not the AIs fault that certain types of clients choose not to do business with non-AI appraisers. Those clients chose those preferences by their own hand.

This whole discussion reminds me of the single mom of 4 who is a 5/10 getting mad at Leonardo for dating 23yr old models. Which he does because he can.

"No, Miss Jones. Even if you do rate yourself as a 10/10, your appeal to Leonardo is based on his opinion of you, not your opinion of you."

I stand by this:
The most important factor is Appraisal Licensing and the quality of our work, regardless of whether or not someone is designated.
It is ridiculous that the Appraisal Institute gives the impression that they are the only ones with a designation.
There are several other good credible appraisal organizations and designations are available for appraisers to participate in, who are also sponsor members of the Appraisal Foundation.

 

[George Hatch]

The distinction I would make is that marketability is a somewhat different attribute than quality.

The other observation I will make is that any dumb plan will work when times are good and the clients are "accepting" less than they would normally prefer. Even the dumbest plans and the least marketable appraisers can still make money when times are good.

We don't really see which plans are viable over the long haul until times get tough. That's when showing up on someone's short list becomes more valuable.

 

[Terrel L. Shields]

others want to pursue a designation for their ego

fixed it for you.

who are also sponsor members of the Appraisal Foundation.

So was NAMA. What happened to them? So was NAIFA. What happened to them? The fact is only a couple of designations are as rigorous as the MAI. Anyone can buy letters and 99% of bankers don't know who or what they mean - with the exception of the MAI. Below are the primary qualificiations for a CCRA

This is the requirement for a CCRA - (Certified Commercial Real Estate Appraiser) - NAREA

• Applicant must be a State Certified General Appraiser adhering to USPAP.
• Applicant must submit and "Application for Admission."
• Applicant must submit membership dues of $245.00 and a one time processing fee of $20.00 (check or credit card charge)

Never mind it is not even legal to hold yourself out as "certified" appraiser - except for state certified- in some states.

 

[CGinMN]

I think a certification in data science and data engineering will do more for your appraisal quality than any of the designations. Whether it will be as marketable? Probably not.