By Joanne Montgomery, Operations Manager As you can see by our previous post we are so proud of Andrew Baker our latest MAI! Many of you will say, “That is so great!” Now what does MAI mean and why is that so exciting?” When I came onboard at Valbridge Property Advisors | Shaner Appraisals a couple of years ago I would’ve asked the same question. Over time I’ve come to realize that a lot of education, hard work and experience go into those three letters. Just to become state certified an appraiser must undergo a large amount of education and training, but MAIs go even further. Below I’ve included more information about the MAI designation so you can be as excited for Andrew as we are! What is an MAI designation? The MAI designation is earned from the Appraisal Institute, signifying a high level of experience, education and ethics in the valuation of commercial and other types of property. What is the Appraisal Institute and why is it credible? The Appraisal Institute is made up of nearly 21,000 professionals across the world. According to its website: “For more than 80 years, the Appraisal Institute has been the world’s leading organization of professional real estate appraisers. The organization has led the way in fostering and promoting the highest standards of practice through its designation programs, peer review process, education, research and publishing endeavors.” How do you become MAI Designated? As deemed by the Appraisal Institute the criteria for an individual to become MAI designated is as follows:
Why is it important? Those working with an MAI designated appraiser know that they have the experience, knowledge and commitment to the profession. MAIs agree to adhere to the Appraisal Institute’s strict code of professional ethics. Continuing education and discipline for not following ethics and standards ensure that MAI’s are at the top of their game. The Appraisal Institute explains further, “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.” MAIs are equipped to value complex properties and provide in-depth market research, instilling confidence in their valuations. How can I find an MAI appraiser? Valbridge Property Advisors has nearly 200 MAI designated appraisers on staff. Our Kansas City office now boasts six MAI appraisers: Bernie Shaner, MAI; Laird Goldsborough, MAI; Jason Roos, MAI; TJ Hawks, MAI; Daniel Kann, MAI and Andrew Baker, MAI. You can also use the ‘Find an Appraiser’ search function on the Appraisal Institute website and search by designation. Want to learn more? http://www.appraisalinstitute.org/ About the Author: Joanne Montgomery is the operations manager for Valbridge Property Advisors | Shaner Appraisals, Inc. With the company since 2013, her work passions include: marketing, process improvement and company culture. Outside of work Joanne enjoys playing volleyball, reading and spending time at the lake with family and friends.
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Congratulations to our very own Andrew Baker on becoming MAI designated! The designation is held by appraisers who are experienced in the valuation and evaluation of commercial and other types of properties. To receive the MAI designation candidates must pass 13 classes that reflect 350 cumulative hours of instruction, pass a two-day comprehensive exam, hold an undergraduate degree from a four-year accredited educational institution, receive credit for 4,500 hours of specialized appraisal experience, and finally receive credit for a demonstration appraisal report relating to an income-producing property. Andrew has worked as an appraiser since 2008 and for Valbridge Property Advisors | Shaner Appraisals, Inc. since 2012. He specializes in blight studies and senior housing properties including independent living, assisted living and skilled nursing facilities. The Valbridge Kansas City office now boasts six MAI designated members of the appraisal institute, while Valbridge Property Advisors nationally has nearly 200 MAI designated members. We are proud to have Andrew on our team!
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