experience

							Experience Review

  Associate Guidance Seminar
    Experience Review Topics
 Advisory Review
 Experience Criteria
 Experience Submission Process
 Tips for Associates
Q&A




    2                             Appraisal Institute
Advisory Review
 Counseling session intended to provide
  constructive feedback on your work
  product
 Optional – not required for designation
 Highly recommended
 One of the benefits of Associate
  membership



3                               Appraisal Institute
Advisory Review Benefits
       Free for Associate members
       Gives feedback on day-to-day work
       Helps prepare for final level review
       Educational only (no “pass” or “fail”)
       Associate may choose to have more than
        one Advisory Review before submitting final
        level experience


4                                        Appraisal Institute
Advisory Review Report
Choice
       Reports are chosen by Associate (2 for General
        Associates, 5 for Residential Associates)
       Reports may be current
       Associate may choose properties with issues
       Reports may not be reviewed again for final level
       No specific time frame for report choice – other than
        prior to submitting for Final Level Experience




5                                                Appraisal Institute
MAI Experience Criteria
   General Associates admitted before
    7/1/2006
       • 3,000 hours initial level (certification)
       • 3,000 hours final level
       • These hours must be submitted by
         7/1/2011
   General Associates admitted after
    7/1/2006
6      • 4,500 hours final level          Appraisal Institute
SRA Experience Criteria
     3,000 hours final level
     Residential Associates admitted before
      1/1/2005 may have alternate options –
      contact Associate & Affiliate Member
      Service Center for details




7                                  Appraisal Institute
Professional Responsibility
       Significant Work Product responsibility

       Associate must be either:
        •   Sole signatory to report
        or
        •   Named on certification as having significant
            responsibility and description in the report of the
            work completed
             (Per USPAP 2-2 [a,b,c,] vii)

8                                                   Appraisal Institute
Hours Per Report
     No set number of hour per report
     Reasonable relationship of hours
     Relationship between number of hours
      claimed and amount/complexity of the work




9                                      Appraisal Institute
 Other Experience Criteria
        Understanding of theory & practice
        Specialized experience for General Associates
        Variety
            Mandatory for General Associates
            Residential work must include more than one
             type of residential real estate



10                                            Appraisal Institute
 Qualifying Experience
    Valuation of Real Estate - Standards 1 and 2
    Review Appraisal - Standard 3
    Consulting - Standards 4 and 5
    Mass Appraisal - Standard 6
    Other - experience gained by providing practical
     solutions to real property economics problems
     which is not covered by Standards 1-6



11                                      Appraisal Institute
 Qualifying Residential
 Appraisal Experience
     Work relating to residential real estate or experience
     gained by providing practical solutions to residential
     real property economics problems which may
     include:
         Houses
         Duplexes
         Condominiums
         Residential subdivisions
         Apartments with 2 to hundreds of units
         Other residentially related property


12                                                 Appraisal Institute
 Process of Obtaining
 Final Level Experience Credit
     Submit Experience



           Screener



                               Experience
     Receive Full           Review Committee
        Credit                                          Admission
                                                        Appeal
              Receive Full/50%                          Board*
                                 Denied Credit
                   Credit*
13                                             Appraisal Institute
 Submission of Experience
      Associate submits application and log to
       National Office
      National Office assigns Screener
      Screener contacts Associate to request
       reports and schedule interview




14                                   Appraisal Institute
 During Screening
      Significant responsibility for the work
      Work meets the Standards
      Appropriate understanding by Associate
      Appropriate techniques for the property type
      Not grading reports - assessing your
       experience
      Your experience is both your work and your
       understanding


15                                       Appraisal Institute
 Experience Screening
 Results
      Approve the Experience Credit - work
       easily meets the criteria
     Or
      Refer the work to a National Review
       Committee – cannot determine if work
       meets the criteria (not a denial of credit)


16                                      Appraisal Institute
 Referred Associate Options
      Go to a National Review Committee
     Or
      Re-submit new work (new time period)




17                                 Appraisal Institute
 National Review Committee
        3-5 people
        Reviews the same work as the Screener
        Interviews you in person
        NRC may:
          Approve full credit
          Approve partial credit
          Deny the application



18                                      Appraisal Institute
 Advice for the Associate
     Preparation
      Select best work
      Select typical work
      Send in copies of work – not the original
       files




19                                   Appraisal Institute
 Advice for Associate
 Interview
  Be professional and courteous
  Have hard copies and
   files for your reports
   available for reference
   during the interview
  Review work prior to interview
  Ask questions - the review should be
20
     educational            Appraisal Institute
 Information & Forms

          www.appraisalinstitute.org

     Designation Requirement Tools page
           Under the Membership tab
       Left-hand link in My AI homepage




21                              Appraisal Institute
 Associate & Affiliate
 Member Service Center
        Counseling for membership requirements
        Setting up designation path outlines for
         associates seeking a designation
        Explaining requirements to obtain designation
        Clarifying membership categories to members
        Updating contact information
        Assisting in dues payments


22                                         Appraisal Institute
     Questions?
     Associate & Affiliate Member Service Center
     312-335-4111
     associate@appraisalinstitute.org

     Janice F. Young, MAI, SRA
     Senior Manager Experience Review
     503-439-9954
     jyoung@appraisalinstitute.org

     Jeanne McNairy, MAI, SRA,
     Chair, Experience Review Panel
     336-378-1564
     jmcn@bellsouth.net


23                                                 Appraisal Institute