The MAI Designation

Introduction to the MAI Designation

The MAI designation represents a prestigious accomplishment conferred by the Appraisal Institute. It stands as the highest echelon of commercial appraisal education available within the appraisal industry, akin to achieving a “Doctorate” in traditional education. Contrary to common misconceptions, “MAI” does not abbreviate “Member of the Appraisal Institute” or any other phrase. Rather, it serves as a symbol of integrity, honesty, and excellence within the commercial appraisal sphere.

Education Required

Earning the MAI designation typically demands a commitment spanning 5 to 10 years. The initial prerequisite entails holding a bachelor’s degree from an accredited college or university. Subsequently, candidates must secure a certified general appraisal license in their desired state of practice. In the State of Colorado, this entails completing 300 hours of initial qualifying education, accruing 3,000 hours of specialized commercial appraisal experience over a minimum of 18 months, and successfully passing a rigorous state examination.

Following the attainment of a certified general license, candidates are required to attend and pass multiple advanced-level appraisal courses offered by the Appraisal Institute. Additionally, candidates must amass 4,500 hours of specialized appraisal experience accredited by the Appraisal Institute. Fulfilling the General Demonstration of Knowledge Requirement is a crucial step, which can be satisfied through various means, although the traditional demonstration report typically necessitates several months (approximately 250 to 350 hours) to complete. This report undergoes meticulous scrutiny and review by the Appraisal Institute to affirm the candidate’s possession of top-tier commercial appraisal expertise.

Finally, candidates must successfully navigate the comprehensive general examination, which comprises a 4-part module assessing all facets of the appraiser’s knowledge, proficiency, and competence. To maintain both the MAI designation and a state license, designated appraisers are mandated to partake in annual continuing education courses.

Conclusion

Dustin Ferguson proudly possesses the MAI designation conferred by the Appraisal Institute. Within Ferguson Appraisals, our team of appraisers comprises members who hold the Designated, Candidate, or Practicing Affiliate status within the Appraisal Institute. This mandated affiliation is integral to upholding our commitment to deliver the highest quality appraisal products.

For a comprehensive understanding of the exacting coursework and prerequisites essential for achieving the MAI designation, we invite you to explore the following link provided by the Appraisal Institute: MAI Designation Requirements. Additionally, for information regarding the certified general appraiser requirements specific to your state, we recommend consulting your respective state licensing board. To obtain the specific requirements from the appraisal institute, please visit their website directly at Appraisal Institute MAI Designation Requirements.

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