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New Appraisal Institute Dictionary Updated to Advance Appraisers’ Knowledge

January 20, 2022 08:00 AM

CHICAGO (Jan. 20, 2022) – “The Dictionary of Real Estate Appraisal,” seventh edition, published this week by the Appraisal Institute, is a landmark text that reflects the depth and breadth of appraisal knowledge. Each entry, definition and reference has been painstakingly researched and designed to express an expert understanding of issues that currently impact the profession. 

This understanding of appraisal is influenced by our history, evolving professional standards, emerging scholarship, significant industry trends and new legislation and judicial precedent at all levels of government. The new dictionary is the culmination of all these influences and an essential, authoritative resource for valuation professionals.

The dictionary is divided into two sections. The first section presents an alphabetical listing of terms directly related to real estate appraisal. The Addenda section contains information—in five topical glossaries and four other compilations of useful information—that relates more directly to other professional disciplines but is used by, and is of interest to, appraisers. 

“The development of a new edition of the dictionary recognizes all those influences in an effort to produce the most useful, most authoritative resource possible.” Appraisal Institute Immediate Past President Rodman Schley, MAI, SRA, wrote in the book’s foreword. “At the beginning of 2021, the Appraisal Institute Body of Knowledge Committee took on the task of reviewing the entire dictionary along with hundreds of suggested changes to existing definitions and potential new dictionary entries.”

"The Dictionary of Real Estate Appraisal," seventh edition, (ISBN: 9781935328858) is a 394-page hardcover book; a PDF is also available. They are available for $140 ($110 for Appraisal Institute professionals) each, or $196 ($154 for Appraisal Institute professionals) if purchased together. Call 888-756-4624 or order online.




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The Appraisal Institute, celebrating its 90th anniversary in 2022, is a global professional association of real estate appraisers, with over 16,000 professionals in almost 50 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. Learn more at



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