MAI is an appraisal designation and stands for Member Appraisal Institute. The Appraisal Institute is an international membership association of professional residential and commercial real estate appraisers, with more than 18,000 members and 99 chapters throughout the United States, Canada and abroad. Its mission is to support and advance its members as the choice for real estate solutions and uphold professional credentials, standards of professional practice and ethics consistent with the public good. The MAI membership designation is held by appraisers who are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties and some members who advise clients on real estate investment decisions.
MAI designates must meet the following current requirements:
Receive a passing grade on a series of examinations that reflect 380 hours
of classroom instruction and that test the appraisers knowledge of
basic and advanced real estate appraisal principles, procedures and
applications; report writing; valuation analysis and standards of
Receive a passing grade on a four-module, two-day comprehensive examination.
Hold an undergraduate degree from a four-year accredited educational institution.
Receive credit for 6,000 hours of experience, including 3,000 hours of specialized commercial real estate appraisal experience, all of which must meet strict criteria.
Receive credit for a demonstration commercial real estate appraisal report relating to an income producing property that demonstrates the ability to present a properly supported value estimate or opinion evaluating the nature, quality or utility of a parcel of real estate or any interest in, or aspect of, real property, including handling physical incurable depreciation, or fulfill an approved comparable alternative. Because of its rigorous requirements and commitment to providing valuable information, continuing education and other valuable resources to its members, you can be confident an MAI appraiser designation will provide you with the very highest quality service on virtually any appraisal assignment, even the most complex commercial appraisal or real estate consulting assignment.