When choosing a commercial appraisal company, you may notice that some professionals hold the MAI designation, while others do not. Understanding what this designation means can help you choose the right commercial appraisal company for your specific needs.
The MAI designation is awarded by the Appraisal Institute to appraisers who have completed advanced education, demonstrated extensive experience in commercial real estate valuation, and met rigorous professional standards. Earning this designation requires significant coursework, comprehensive examinations, and the successful completion of qualifying appraisal assignments. It also reflects an ongoing commitment to continuing education and ethical practice.
However, non-designated appraisers are not necessarily less qualified. Many are state-certified professionals with years of experience valuing commercial properties and producing credible and compliant appraisal reports. Depending on the complexity of the assignment, a non-designated appraiser can still provide a reliable opinion of value.
The main difference often comes down to the appraiser’s level of specialized training, professional credentials, and experience with complex valuation assignments. For high-value commercial properties, litigation support, eminent domain cases, or other situations where an appraisal may face heightened scrutiny, some prefer to work with an MAI-designated appraiser.
Ultimately, the right appraiser is one whose qualifications, experience, and expertise align with your property’s characteristics and the purpose of the appraisal. We would be happy to tell you more about our qualifications as a commercial appraisal company, so contact us today to speak with one of our representatives.