The Appraisal Institute was established when the American Institute of Real Estate Appraisers (AIREA) and the Society of Real Estate Appraisers (Society) unified in January 1991. AIREA and the Society, founded in 1932 and 1935, respectively, were created to help standardize the appraisal process by promoting professional education and upholding high ethical standards.

With over 75 years of history, the Appraisal Institute continues to serve as the foremost membership organization for real property valuation professionals. Through its designation programs, public affairs outreach efforts, peer review process education and publishing endeavors, the Appraisal Institute maintains its leadership position within the real estate industry and continues to be a major contributor in the American – and now the global – real estate profession.