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 who advise clients on real estate investment decisions.
To become a MAI member of the Appraisal Institute, an individual must :
- Have good moral character
- Meet standards and ethics requirements
- Pass rigorous education requirements
- Undergraduate degree from 4-year accredited university
- Pass 13 exams with 400 hours of classroom instruction
- Pass the General Comprehensive Examination
- Receive credit for 4,500 hours of specialized experience which must meet strict criteria and be over at least a three-year period
- Complete a demonstration report proving competency in writing, substantiating, and defending value conclusions
These appraisers have the necessary commercial property valuation experience and knowledge in a property’s relevant geographic area to produce a valuation that instills confidence. They have a proven commitment to ethical practices, as Appraisal Institute MAI Designated members agree to adhere to the Appraisal Institute code of professional ethics and standards of professional appraisal practice.
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.