Appraisal Institute designated members have met rigorous requirements relating to education, testing, experience and demonstration of knowledge, understanding and ability.
Loren A. Wright, president, holds the prestigious MAI designation from the Appraisal Institute.
Receive credit for 4,500 hours
of experience, all of which must
meet strict criteria.
Receive credit for a demonstration appraisal report relating to income-producing property that demonstrates the ability to present a properly supported value estimate or opinion evaluating the nature, quality or utility of a parcel of real estate or any interest in, or aspect of, real property, including handling physical incurable depreciation, or fulfill an approved comparable alternative.
MAIs are recognized experts in appraising properties of all kinds and form a business network encompassing markets nationwide and in Canada. Appraisal Institute members adhere to a strictly enforced Code of Professional Ethics and Standards of Appraisal Practice.
Every Member of the Appraisal Institute agrees to conduct his or her professional activities in accordance with the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. In addition, the Appraisal Institute has developed a sophisticated peer review system through which it enforces its Code of Professional Ethics and Standards of Professional Appraisal Practice. Violations of the Code of Ethics or Standards can result in remedial or disciplinary actions.
In addition, each designated member of the Appraisal Institute must complete 100 hours of approved continuing education every five years to retain their designation
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