The Appraisal Institute is a global professional association of real estate appraisers, with nearly 22,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide.
Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS, and AI-RRS designations.
View the Appraisal Institute's 2012 Annual Report
The majority of Appraisal Institute professionals are practicing real estate appraisers and property analysts who provide valuation-related services to such clients as mortgage lenders, financial institutions, government agencies, attorneys and financial planners as well as homeowners and other individual consumers.
Appraisal Institute Designated members have met rigorous requirements relating to education, testing, experience and demonstration of knowledge, understanding and ability. Those individuals holding the Appraisal Institute’s MAI and SRPA designations are experienced in commercial valuation, including industrial, retail and multifamily properties. Those holding the SRA designation are experienced in residential valuation. All Appraisal Institute professionals adhere to a strictly enforced Code of Professional Ethics and Standards of Professional Appraisal Practice.
Role of the Appraisal Institute
For more than 80 years, the Appraisal Institute has been the world’s leading organization of professional real estate appraisers. The organization has led the way in fostering and promoting the highest standards of practice through its designation programs, peer review process, education, research and publishing endeavors.
Professionals Providing Real Estate Solutions®
Valuation professionals within the Appraisal Institute form a network of Professionals Providing Real Estate Solutions® throughout the United States and abroad. Because they have met rigorous requirements relating to education and experience, appraisers holding the Appraisal Institute’s MAI, SRPA and/or SRA membership designations have long been respected by courts, government agencies, lenders, corporations and others seeking real estate appraisal services. The AI-GRS and AI-RRS review designations have recently been created in response to the growing and critically important role that appraisal review plays in risk management and mitigation for many clients/users of appraisal services. A cornerstone upon which the Appraisal Institute was built is that every participating individual agrees to conduct his or her professional activities in accordance with the Appraisal Institute’s Code of Professional Ethics and Standards of Professional Appraisal Practice.
A Resource to the Profession
The Appraisal Institute also serves as a resource for the profession in other ways, including its Y.T. and Louise Lee Lum Library, InfoExchange and job search services. Through its extensive collection of books, journals, reference sources and online databases, the Lum Library provides support for the research needs of AI valuation professionals, as well as others in the profession. Another resource is our Leadership Development and Advisory Council (LDAC), which fosters the development of new industry leaders and recognizes the importance of establishing an “appraiser presence” in Congress. In addition, our Professional Standards and Guidance Committee keeps vigilant watch for issues concerning appraisal ethics and standards.
As the leader in real property appraiser education, the Appraisal Institute offers an extensive curriculum of introductory and advanced courses, as well as a wide range of seminars on specialty topics. These programs are designed to address the needs of all real estate appraisers, ranging from those just entering the profession and earning credit toward state licensing or certification, to seasoned practitioners who wish to keep abreast of the latest techniques and developments. Many of these programs also serve to help other industry professionals gain further insight and understanding of real estate valuation techniques and processes.
The Appraisal Institute is the world’s largest publisher of real estate appraisal literature. In addition to a series of general reference books, every year the Appraisal Institute adds to its extensive list of publications, covering contemporary practice issues, advances in methodology and technology, and the valuation of a wide range of special purpose properties. The Appraisal Institute also publishes the award-winning Valuation magazine and The Appraisal Journal. The peer-reviewed Journal has served as the top forum for appraisal professionals and has become the most frequently referenced periodical in appraisal literature. Valuation magazine focuses on innovative features and practical ideas. Appraiser News Online keeps appraisers abreast of profession trends, as well as legislative and regulatory matters impacting appraisers.
The Appraisal Institute is active in advocacy efforts on behalf of its professionals and the industry at large. Primarily through its office in Washington, D.C., the organization communicates regularly with legislators and regulators to encourage the adoption of appraisal policies that best serve the public interest. The office pursues opportunities for Appraisal Institute professionals and other leaders in the profession to testify before Congress in the interest of the real estate appraisal community and provides background briefings to legislators and their staffs on critical real estate appraisal industry issues. We have also forged strategic coalitions with consumer groups, homebuilders, the mortgage insurance industry and various related professional real estate associations.
Appraisal Institute professionals have access to a variety of benefits; including insurance programs, education and publications, networking and leadership development, AI services, business tools, marketing and public relations and travel. The Appraisal Institute also houses the Lum Library, which provides support for the research needs of AI professionals as well as the profession at large.
Over the last several years, the Appraisal Institute has expanded its education programs to Asia, Europe and the Middle East, and has a growing international presence. The organization also continues active involvement in regional and international real estate federations including the International Valuation Standards Committee, the International Real Estate Federation, the Union of Pan-American Valuation Organizations, the International Federation of Surveyors and the European Group of Valuers’ Associations.