Experience Review

1. Experience Review Associate Guidance Seminar

2. Experience Review Topics • Advisory Review • Experience Criteria • Experience Submission Process • Tips for Associates • Q & A Appraisal Institute

3. 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 Appraisal Institute

4. 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 Appraisal Institute

5. 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 Appraisal Institute

6. 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 • 4,500 hours final level Appraisal Institute

7. 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 Appraisal Institute

8. 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) Appraisal Institute

9. 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 Appraisal Institute

10. 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 Appraisal Institute

11. 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 Appraisal Institute

12. 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 Appraisal Institute

13. Process of Obtaining Final Level Experience Credit Submit Experience Screener Experience Review Committee Receive Full Credit Admission Appeal Board* Receive Full/50% Credit* Denied Credit Appraisal Institute

14. Submission of Experience • Associate submits application and log to National Office • National Office assigns Screener • Screener contacts Associate to request reports and schedule interview Appraisal Institute

15. 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 Appraisal Institute

16. 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) Appraisal Institute

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

18. 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 Appraisal Institute

19. Advice for the Associate Preparation • Select best work • Select typical work • Send in copies of work – not the original files Appraisal Institute

20. 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 educational Appraisal Institute

21. Information & Forms www.appraisalinstitute.org Designation Requirement Tools page • Under the Membership tab • Left-hand link in My AI homepage Appraisal Institute

22. 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 Appraisal Institute

23. 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 Appraisal Institute