The MAI membership designation is held by professionals who provide a wide range of services on all types of real property related to providing opinions of value, evaluations, review, consulting and advice on investment decisions, among other things. Property types may include commercial, industrial, agricultural, residential, and vacant land. Often considered to be roughly equivalent to a ‘doctorate level’ degree in commercial real estate appraisal. While MAI stands for “Member Appraisal Institute”, the acronym does not have substantia leaming to most people, the experience and education required to achieve the MAI designation encompasses completion of the most rigorous coursework, report writing and examination process for any appraisal designation.
The MAI designation has long been recognized by courts of law, government agencies, financial institutions, and investors as a mark of excellence in the field of real estate valuation and analysis. Many sophisticated real estate players such as REIT’s, large investment funds, developers, investors, lenders, pension funds, corporations and buyers/sellers, require the use of an MAI designated appraiser for their appraisal needs. Additionally, seasoned commercial real estate attorneys drafting legal documents that are utilized to establish market values for commercial property (purchase options, rental rate renewal, etc.) typically state that the use of an MAI designated appraiser is required.
