What is an "MAI Appraisal" ?
An MAI appraisal, commonly misspelled as MIA Appraisal, is a misnomer. An MAI Appraisal is not a type of appraisal but an appraisal performed by
an appraiser that holds the MAI Designation, also known as an MAI Appraiser.
An MAI is an appraiser that possesses the MAI designation, which is depicted following the appraisers name, such as David J. Glauber, MAI.
The MAI originally stood for Member of the Appraisal Institute. However, that was changed in recent years and it is now a service mark such as IBM
or KFC that does not reference any words behind the letters. Either way, an MAI designation is the highest achievement that is available to an
appraiser. The requirements to become an MAI far exceed the requirements set forth for a certified general appraiser. Bear in mind that an MAI
Appraiser will almost always also be a Certified General Appraiser.
It is common practice for a client to require an MAI appraiser to complete appraisals of complex real estate transactions as the MAI designation is
recognized throughout the world.
The question is do you need an MAI Appraisal? (An appraisal completed by an appraiser who holds the MAI Designation) MAI's do all levels of
appraisal work, even simple assignments. Since the assignments are less complex, the fee is also less and is not necessarily higher than a
Certified General Appraiser that is not an MAI. Therefore, if you need an appraisal of any level, why would you not ask for the best. So please call
us for your Appraisal needs, our number is 888-267-1543.
If you need an Appraisal completed by an appraiser with the MAI designation, please give us a call, we would be delighted to perform your work.
David J. Glauber, MAI
The following is an excerpt from ezinearticles.com/? What Is An MAI Appraisal?
This description is a good example of how the term MAI gets used or misused. The information in this excerpt has many technical errors and should not be taken as
fact, but it is a good reflection of the attitudes of the real estate industry.
MAI appraisals are among the most sought after appraisals in the commercial real estate world. MAI stands for Member of the Appraisal Institute, a trade organization which monitors
appraisers and holds them to a higher standard than appraisers who are merely licensed and do not belong to such an organization. There are other appraisal trade organizations active
in the world of real estate. However, MAI is the best known, and thus the most popular.
Technically, there is no such thing as an "MAI appraisal." There are only appraisals performed by an appraiser who has completed the MAI Appraisal Institutes class offerings, and holds
this designation. However, it's often much easier to refer to the appraisal itself as being certified than to hold to technicalities.
An appraiser who has earned the MAI designation is qualified to and experienced in the performance of both residential and commercial properties. Many other appraisers are only
qualified for residential property. At one point, lenders were likely to require that an appraisal be done by an MAI certified appraiser, or a member of another trade organization. However,
this has been unlawful since 1989, as there is not federal regulation of these organizations. Still, certified appraisals can increase the chances of a favorable lending situation, since the
lender will feel more comfortable. An MAI certified appraisal offers lenders a reliability that allows them to be confident in their investment.
A commercial appraisal by an MAI certified appraiser can include many things. Generally, it will provide an overview of the community, neighborhood, and general area in which the
property is situated, as well as a detailed description of the site and all buildings it contains. Zoning analysis, an analysis of the highest and best use for the property, and an in depth
discussion of the property's value from several different approaches will also be included. The appraiser may also make a recommendation of which valuation is most appropriate in his or
Page updated February 28, 2018