The Appraisal Institute recently issued a press release to announce that it will begin issuing two new appraisal review designations in 2014. The new review designations, which are titled Appraisal Institute – General Review Specialist (AI—GRS) and Appraisal Institute – Residential Review Specialist (AI—RRS), are the first to be implemented by the Appraisal Institute in over twenty years.
The Institute’s Board of Directors initially adopted the Review Designation Program—which implements the appraisal review designations—in response to both the growing and important role that the appraisal review process plays in both risk management and mitigation.
Beginning in 2014, the Appraisal Institute will also be offering the following four new courses to address the new review designations:
- Review Theory – General (available in first quarter 2014)
- Review Theory – Residential (available in first quarter 2014)
- Review Case Studies – General (available in July 2014)
- Review Case Studies – Residential (available in July 2014)
Designated members of the Appraisal Institute will soon be able to fulfill the requirements for the review designations, and those that aren’t designated members can always apply to become candidates – although some of the requirements that those individuals must fulfill are not yet available.
In addition, the Appraisal Institute announced that it confers the MAI designation on commercial and general appraisers and the SRA designation on residential appraisers that meet certain standards. It also recognizes the SRPA, SREA, and RM designations that have been conferred by its predecessor organizations.
To learn more about the Review Designations Program, please click here.