Designations Make a Difference

Chicago - Researchers from Washington State University recently found that appraisers who earn the SRA, the residential designation, from the Appraisal Institute earned an average of 26 percent more, or about $13,000 annually, compared to their non-SRA counterparts. The study analyzed real estate appraisers who were similar in other respects except for the SRA designation, which is like the CPA in the accounting profession.

Make no mistake: An Appraisal Institute designation is a hard-earned distinction achieved by only the most dedicated real estate appraisers. As a result, Appraisal Institute designations are highly respected by those seeking professional opinions of value - individual property owners, investors, government agencies, corporations, lenders, and the courts among others. Appraisal Institute designations differentiate the true professional from the average appraiser.

Knowing that an Appraisal Institute designation identifies you as one of the best in the profession is important, but every once in a while it's nice to know "What’s in it for me?" This section answers that question by highlighting some of the many programs and benefits that are a part of Appraisal Institute membership.

Personal Achievement and Earnings Potential

Members have repeatedly said that earning an Appraisal Institute designation is the most satisfying achievement of their careers. Going beyond the sense of accomplishment and pride, an Appraisal Institute designation brings opportunities for career growth, higher income, and professional recognition.

Enhancement of Professional Quality

Where do you go when you have a question on appraisal standards, ethics, or professional practice? Guidance on these issues is available from the Appraisal Institute Ethics and Counseling Division. This division enforces the Appraisal Institute’s Standards of Professional Appraisal Practice and Code of Professional Ethics. Hundreds of appraisals are reviewed every year to enhance the quality of service members provide to the public.

Directory of Members

The Appraisal Institute Directory of Members is widely considered the best source for finding qualified appraisers. In an average year more than 20,000 copies are distributed to corporations, individuals, financial institutions, and other users of appraisal services. Placing the directory on the desk of the decision maker creates business opportunities for members.

The Finest in Appraisal Education

Almost 50,000 participants annually can attest to the fact that the Appraisal Institute provides professional training that no other organization can match. A variety of educational courses, seminars, and workshops allow you to meet continuing professional education requirements while staying on top of the latest in appraisal theory and technique. Tuition discounts are offered to members and affiliates.

Marketing, Promotion, & Public Relations

Through print advertising, direct mail, and trade show exhibits, the Appraisal Institute tells the marketplace that it's members are the best real estate appraisers available. A variety of informational brochures are published and distributed to promote members and educate the public about the appraisal profession. These brochures are also available for purchase by members to promote their own businesses.

Appraisal Institute officers are regarded as spokespersons for the appraisal profession and are often sought out and quoted by the news media. Whenever an interview is arranged and the officer is quoted in the press, the resulting publicity strengthens the reputations of all designated members.

Through advertising, public relations, and other means, your chapter promotes you at the grass roots level. These effort position members as the recognized authorities on real estate appraisal in their own communities.

Advocacy

The Appraisal Institute’s Washington, DC, office is your advocate in our nations’ capital, promoting membership’s interests to Congress and federal agencies. The State Legislation Division collaborates with the regions, states, and chapters to represent member interests, enhance the Appraisal Institute’s image in state legislatures, and promote uniformity of state laws and regulations.

The Appraisers Political Action Committee (APPAC) accepts voluntar contributions from members and uses these funds to support political candidates who share appraisers’ interests and concerns. Through APPAC, you have an opportunity to share the political processes that affect your profession.

Unequaled Professional Periodicals

Appraiser News and Appraiser News In Brief keep you up-to-date with issues and events affecting the appraisal industry, as well as activity within the Appraisal Institute. The Appraisal Journal serves as a forum for the exchange of ideas, providing in-depth exploration of appraisal issues and valuation techniques. Receiving these top-quality publications is another benefit of Appraisal Institute membership.

Through specialty publications such as MarketSource, a quarterly bulletin of real estate market activity, and The Quarterly Byte, dedicated to helping you get the most out of your computer, you have access to valuable information that you can use to improve service and keep ahead of the competition.

Leading Edge Publications

They say knowledge is power. Appraisal Institute products and publications keep up with your changing needs and provide the power you need to get ahead in today’s competitive environment.

Specialized books, monographs, and readings analyze and report on the latest "hot topics" within the industry. With videotapes becoming more and more important as training tools, the Appraisal Institute now offers 11 different titles to meet your training needs. To help you keep up with changing technology, new user-friendly software products are developed and released. And The Appraisal of Real Estate, Appraising Residential Properties, and The Dictionary of Real Estate Appraisal remain the cornerstone texts of appraisal education. Members enjoy discounts on every publication and product the Appraisal Institute offers.

Appraisal Library and Research Services

When faced with unique or unusual appraisal problems, you have an unparalleled resource at your disposal -- the Lum Library. With extensive holding and on-line database capabilities, the library is one of the most complete appraisal libraries in the country. You can visit the library in person, or work with the research staff over the phone. They can quickly and efficiently help you find the information you need to complete the assignment. Many services are provided to members free or at a nominal charge.

Networking Opportunities

Appraisal Institute membership provides an open forum for appraisers to share their knowledge, interest, and concerns with colleagues. National and regional functions offer opportunities for you to network with your peers. Chapters offer associate memberships, providing opportunities to forge and maintain importantbusiness and professional relationships within your community.

Insurance Programs

Through group buying power, the Appraisal Institute offers its members high quality, low cost insurance benefits, including professional liability coverage, group life, medical and disability, and employee coverage. Insurance programs are continuously reviewed to ensure that members are receiving the best coverage at the lowest premiums.

While this list of services and benefits is not all inclusive, it gives you a good idea of "what’s in it for you." Remember, the Appraisal Institute is your organization and strives to be responsive to your expanding interests and needs. Through its chapter and regional structure, you have grass roots participation in the decision making process on issues of importance facing the organization and your profession.

Your Appraisal Institute membership helps you keep -- and increase -- your professional advantage in today’s demanding business environment. Ongoing projects, such as the recently completed member profile and needs assessment survey, enable the organization to develop more new and exciting programs to ensure that your needs are met in the years to come.

APPRAISAL INSTITUTE
MEMBERSHIP BENEFITS

One Member’s Perspective

Free and Discounted Publications 20%

Valuation Insights & Perspectives
Appraisal Institute National Membership Directory
Appraiser News In Brief

Advertising 5%

Marketing & Promotional Tools 10%

Washington Office 10%

Lobbying and Industry Contacts

Quality, Free or Discounted Education 10%

On-Line Bulletin Board Service 5%

Market Data
Appraisal Institute Information
Links
Direct Communication with the local chapter and national offices

Ethics & Counseling 10%

Maintains Quality & Pride

Research 5%

Surveys & Studies

Library 10%

Market Data
Articles

Future Designated Members 10%

Overhead & Administration 5%

Board of Directors
National & Local Offices
Insurance
Legal
Strategic Plan

TOTAL 100%

100% return of my investment which does not even include benefits I receive from networking business received from being designated, etc. which are returns on my investment of dues.

Author: C. David Matthews, MAI, SRA, Evansville, IN