ABOUT APPRAISAL INSTITUTE   OVERVIEW The Appraisal Institute is the acknowledged leader in residential and commercial real estate appraisal education, research, publishing, and professional membership designation programs. The Institute was established when the American Institute of Real Estate Appraisers and the Society of Real Estate Appraisers merged in January 1991. Both organizations were formed during the 1930s to help standardize the appraisal process by promoting professional education and upholding high ethical standards. MEMBERSHIP The Appraisal Institute has more than 20,000 members and 103 chapters across the country. Members are professionals who have met stringent requirements and most exceed state licensing and certification for education and experience. Approximately 20% of all licensed or certified appraisers have earned the right to be called Appraisal Institute members. The criteria for designated members include verified experience, successful completion of advanced courses and a graded report documenting the individual’s expertise with regard to all aspects of the appraisal process. DESIGNATIONS The Appraisal Institute has general appraisal members who hold the MAI or SRPA designations and residential appraisal members who hold the SRA designation. The MAI designation is earned by appraisers who are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties, and who advise clients on real estate investment decisions. The SRPA designation is held by appraisers who are experienced in the valuation of commercial, industrial, residential and other types of property. The SRA membership designation is earned by appraisers who are experienced in the valuation of single-family homes, townhouses, and residential income properties of up to and including four units. EDUCATION The Appraisal Institute and its chapters conduct introductory and advanced courses and seminars that address the needs of appraisers just entering the profession as well as seasoned practitioners. PUBLICATIONS AND LIBRARY The Appraisal Institute is the world’s largest publisher of real estate appraisal literature. The organization publishes four periodicals -- The Appraisal Journal, Valuation Insights & Perspectives, Appraiser News in Brief, and MarketSource -- as well as over 60 books on a wide variety of subjects ranging from basic valuation theory and techniques to advanced applications. The Appraisal Institute is also the publisher of The Appraisal of Real Estate, the authoritative text on real estate appraisal now in its eleventh edition. The Institute’s Directory of Designated Members is widely considered the best source for finding qualified appraisers. The Appraisal Institute’s Lum Library houses the largest English-language collection of real estate valuation literature in North America. ADVOCACY The Appraisal Institute’s government relations office in Washington, D.C., and its Chicago headquarters office, communicate regularly with federal and state legislators and regulators to encourage the adoption of appraisal policies that best serve the public interest. PROFESSIONAL ETHICS/PEER REVIEW The Appraisal Institute enforces a Code of Professional Ethics and the Standards of Professional Appraisal Practice, under which all members agree to conduct their professional activity. The Appraisal Institute also provides a peer review procedure that may result in counseling or disciplinary action for violations of ethical or standards rules. ON-LINE INFORMATION AND SERVICES VIA THE WORLD WIDE WEB The Appraisal Institute maintains an informative Web site that is continually updated. The Web site address is: www.appraisalinstitute.org It includes on-line news and information services for members as well as the various categories of users of professional appraisal services: individual property owners, investors, government agencies, corporations, the courts and others. A major feature is "Find an Appraiser," an easily accessible database of designated Appraisal Institute members that can be searched by geographic location and other pertinent factors.