Today is the age of specialization and the real estate profession is no exception to the rule. Real estate appraising is a complex field. The sale of your home, business or any "real property" may be the largest transaction of your lifetime. Appraisers' opinions can play an important part in almost any real estate transaction. For this reason a NAIFA Designated Independent Appraiser should be consulted. To learn more about the designation of an appraiser, click here. For our Monthly Meeting Location, click here.

What is an Appraisal?

An appraisal is an opinion of value or the act or process of estimating value. This opinion or estimate is derived by using the three common approaches, all derived from the market.

They Are:

• Cost Approach
• Comparison Approach
• Income Approach

Then, after thorough analysis of all general and specific data gathered from the market, a final estimate or opinion of value is correlated.

What is NAIFA

The National Association of Independent Fee Appraisers was founded in 1961 as a non profit professional association of real estate appraisers. Today, our Association has chapters through­out the United States, Mexico, Canada, and we continue to grow both in number and stature.

What is the Purpose of NAIFA

The Association's objectives are to raise the standards of the appraisal profession, gain recognition for its members as qualified professionals, and to promote fellowship among appraisers.

What is a designation?

A designation indicates that the appraiser has attained a higher level of education in the appraisal industry and has met greater experience level requirements.

Isn't a State Licensed Appraiser enough?

State Licensing was intended to set minimum standards for appraisers. It accomplished just that, the minimum requirements. Although in should be noted that each state differs by their requirements.

Does it really make a difference?

Absolutely! To attain a NAIFA designation with our reputable appraisal organization, the appraiser's knowledge, ability and methodology has been reviewed by their peers.

Why should I seek out the services of a designated appraiser?

Let's face it, the investment in real estate is probably the single largest investment you'll ever make. Does it not make since to exercise sound judgement in protecting that investment?

Let's draw a comparison between professions:  

• Is your Doctor licensed by the state? Does he or she belong to the American Medical Association?
• Is your Attorney licensed in the state and does he or she belong to other associations?

There are many professional appraisers in the world today who are not designated; however, considering the size of your investment it would appear obvious to me that seeking out the professional services of a designated appraiser who has demonstrated his/her ability above and beyond that of the minimum state requirements would be a prudent decision on your part.

For a list of the requirements to attain the IFA, IFAA, IFAC and IFAS designations click here.

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