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Opportunities to join the new candidate for designation program.

New Candidate for Designation Program

Two years ago, the Appraisal Institute Board of Directors approved a new strategic vision that will transition the organization from a professional association to a professional society by 2016. Following extensive deliberation and careful consideration of member feedback, the Board in December 2011 approved the new Candidate for Designation program.

The Candidate for Designation program will be implemented January 1, 2013, at which time it will become the path to Designated membership in the Appraisal Institute. Those committed to becoming Designated members will enroll in a proactive, structured program--similar to an MBA program-that will offer guidance and measured timelines to ensure timely progress toward designation.

Participation in the program constitutes a commitment between the Candidate and the Appraisal Institute. Candidates will commit to meeting the designation requirements within an established timeframe, and the Appraisal Institute will help them be successful.

So, what does all of this mean for appraisers who are not Appraisal Institute members? The Appraisal Institute encourages all valuation professionals to work toward this significant achievement. Obtaining a designation shows appraisers' clients that they have gone above and beyond the education and experience needed for state certification and have demonstrated professional knowledge, understanding, and ability.

AI has invited all of its current, state certified Associate members (or equivalent) to join the Candidate for Designation program; signup for them began June 1. Once enrolled, they will receive Candidate status and will be able to use the title "Candidate for Designation" on their resumes, business cards, and related materials. Non-state certified appraisers and Associate members who do not sign up for the Candidate program will become Practicing Affiliates. To further clarify, beginning January 1, 2013, the Appraisal Institute will have the following categories:

* Designated members,

* Candidates for Designation,

* Practicing Affiliates, and

* Affiliates.

Candidates who succeed in becoming Designated will enjoy the enhanced reputation and esteem of MAI and SRA membership. I understand that many members seeking designation may find the journey challenging, so AI is making advisors available to help guide Candidates toward their designation goal.

Implementing the Candidate for Designation program is integral to strengthening AI's position as the preeminent organization for real property professionals. The Appraisal Institute must grow and adapt with the changing valuation profession and must motivate qualified individuals to become designated in a timely manner. The Candidate for Designation program will reinforce the public stature of the Appraisal Institute and is a key part of the professionalism the Appraisal Institute represents.

Conclusion

Appraisers who have already received the MAI and/ or SRA designation from the Appraisal Institute know that a designation enhances their reputation, expands their earning opportunities, and places them among the best of the best. Designated members make a commitment to advanced education, defined ethical requirements, and higher education for the appraisal profession as a whole. The MAI and SRA designations have long been recognized by courts of law, government agencies, financial institutions, and investors as marks of excellence in the field of real estate valuation and analysis.

The following Frequently Asked Questions and Answers will help appraisers understand the new Candidate for Designation program and the changes in Appraisal Institute membership categories. Additional information is available on the Appraisal Institute's website at http://www.appraisalinstitute. org/membership/designated_mem.aspx.

FAQs: How the New Candidate for Designation Program Affects AI Members

Q. What is the background of the Appraisal Institute's Candidate for Designation program?

A. The AI Board of Directors approved a new strategic vision in 2010 that will transition the organization from a professional association to a professional society. As part of that goal, in August 2011 the Board voted to send to 45-Day Notice proposed bylaws changes that would create a Candidate for Designation program. In December 2011, the Board approved the Candidate for Designation program.

Q. What is the Candidate for Designation program?

A. The Candidate for Designation program will become the path to Designated membership in the Appraisal Institute. Those committed to becoming Designated members will enroll in a proactive, structured program--similar to an MBA program--that will offer guidance and financial incentives for Candidates to make progress toward designation. The program is consistent with the new strategic direction previously approved by the AI Board of Directors.

Q. Why is the Candidate for Designation program important/necessary?

A. As the real property valuation profession grows and changes, the Appraisal Institute must grow and adapt with it. The Candidate for Designation program will help identify and motivate qualified individuals to become designated in a timelier and more effective manner so that they can use their skills to better serve the public.

Q. How does the Candidate for Designation program benefit the AI?

A. Implementing the Candidate for Designation program will play an integral role in moving the Appraisal Institute from a professional association business model to a professional society business model. Along with other initiatives, such as core competencies and possible designations for appraisal reviewers, the Candidate for Designation program will reinforce the stature of the Appraisal Institute.

Q. How will the membership categories change with the introduction of the Candidate for Designation program?

A. Designated members will be the only membership category; the other categories will be non-member categories. The categories will be as follows:

* Designated members,

* Candidates for Designation,

* Practicing Affiliates, and

* Affiliates.

Q. What are the benefits of the Candidate for Designation program?

A. The Candidate for Designation program will offer many benefits for individuals seeking Designated membership, existing Designated members, and the Appraisal Institute as a whole. Candidates will receive the structure and financial incentives to facilitate attainment of their professional goals in a timely manner. Existing Designated members will have an opportunity for meaningful interaction with Candidates and participation in the cultivation of the next generation of Designated members.

Successful Candidates will enjoy the enhanced reputation and esteem of MAI and SRA membership, as the AI recruits and retains the most highly qualified individuals to become Candidates. Implementing the Candidate for Designation program will play an integral role in strengthening the Appraisal Institute as the preeminent professional society for real property professionals.

Q. Who can become a Candidate for Designation?

A. The Appraisal Institute will invite all current state certified Associate members (or equivalent) into the Candidate for Designation program. Those who accept would receive Candidate status. Candidates will be able to use the title "Candidate for Designation" on resumes, business cards, and for similar uses. State certified (or equivalent) appraisers new to AI will have up to one year to become a Candidate for Designation. Non-state certified appraisers, including those who are currently Associate members, will become Practicing Affiliates.

Q. What happens if an Associate does not want to become a Candidate for Designation?

A. Associate members who decline to become Candidates will become Practicing Affiliates or Affiliates if they do not provide Services as defined by the Code of Professional Ethics, as newly defined.

Q. What is a Practicing Affiliate?

A. Practicing Affiliates will include:

* Existing, non-state certified Associate members.

* Existing, state certified Associate members who choose not to become Candidates.

* Practicing state certified appraisers who join the Appraisal Institute after January 1, 2013 (for up to one year, after which they will be required to become Candidates).

* Non-state certified appraisers who join the Appraisal Institute after January 1, 2013 (until they become state certified).

Q. What is an Affiliate?

A. Affiliates will include:

* Existing Associate members who do not provide any Services as defined by the Code of Professional Ethics.

* Individuals who are interested in property economics and do not provide any Services as defined by the Code of Professional Ethics.

Q. How will this affect the Appraisal Institute's current Associate membership?

A. The Associate membership category will be retired as of December 31, 2012. The Appraisal Institute will invite all current Associate members who are also general and/or residential state certified (or equivalent) to become Candidates for Designation with Candidate status. Non-state certified Associate members (including trainees, aspiring trainees) who provide Services as defined by the Code of Professional Ethics will become Practicing Affiliates, as newly defined.

Q. What are the benefits to being a Candidate?

A. There are many benefits to Candidates, including:

* One-on-one, personalized support from an AI Designated member advisor.

* Mutually agreeable goals and milestones.

* Clear and structured sequence of steps for completing the requirements for a Designated membership.

* Established timeframes for earning a designation.

Q. How will the program help Candidates become Designated members?

A. The Candidate for Designation program will provide a structured plan that will help Candidates remain committed and focused on the end goal: Designated membership. Participation in the program will constitute a commitment between the Candidate and AI. Candidates will commit to meeting the designation requirements within an established timeframe, and the Appraisal Institute will help them be successful. There will be a maximum time limit set for completing the designation requirements.

Q. What are the maximum time limits for designation?

A. There will be a four-year time limit for those who are pursuing an MAI designation and a three-year time limit for those who are pursuing an SRA designation. Those who have one, two, or three requirements remaining as of January 1, 2013, will receive a one- to three-year timeframe in which to finish all designation requirements and become a Designated member. Extensions may be granted for good cause, as approved by the Admissions Committee.

Q. What happens if a Candidate does not complete the program in the established timeframe?

A. Candidates who do not complete the program within the established requirements will be terminated from the program. The terminated individual could rejoin the program after one year.

Q. What are the requirements for Candidate for Designation, in addition to established requirements for a designation?

A. Candidates must agree to make specific progress within set timeframes. Candidates must attend at least one chapter meeting a year. The program will include pairing Candidates with an advisor, and Candidates will have contact with their advisor.

Q. What is the role of an advisor, and how would this help a Candidate?

A. The program will provide advisors thr Candidates. Advisors will:

* Receive technical assistance from staff.

* Receive continuing education credit.

* Complete an orientation program (e.g., online, live meeting).

* Receive tools, such as flow charts, checklists.

Chapters will provide a Candidate Guidance Chair similar to the current Associate Member Guidance Chair.

Candidates will be in communication numerous times each year with an advisor, who will provide encouragement and offer knowledge and advice on the benefits of pursuing Designated membership. Candidates also will have access to national staff members who specialize in admissions counseling and have the expertise to address technical questions that Candidates may have about the Designated membership requirements.

Q. What are the costs of this program?

A. The costs of this program are outlined below:

* The 2013 annual fee for the Candidate program is $450.

* Current Associate members who enroll in the Candidate program by August 31, 2012 will receive a special introductory Candidate program fee of $395, a $55 discount.

* The 2013 annual fee for Practicing Affiliates will be $330, the same as 2012 Associate member dues.

* The 2013 annual fee for Affiliates will be $210, the same as 2012 dues.

Q. What is the cost of maintaining Practicing Affiliate status?

A. Practicing Affiliates will pay a yearly affiliation fee. Affiliates will receive discounts on qualifying education and continuing education only.

Q. When did AI approve and implement the Candidate for Designation program?

A. The Board of Directors approved the Candidate for Designation program in December 2011. The Candidate for Designation program will launch January 1, 2013.

Sara W. Stephens, MAI, is the 2012 president of the Appraisal Institute. She serves this year as chair of the Appraisal Institute's Executive Committee and chairs its policy-making Board of Directors. Stephens has been active at the Appraisal Institute's chapter, regional, and national levels for more than 20 years. She served two terms as president of the Arkansas Chapter, is the chapter's current Membership Admissions, Development and Retention Committee chair, and has served as both chair and member of the Nominating Committee and chair of the Education Committee. She is also a member of the Board of Directors of the Arkansas Chapter of the Appraisal Institute. Stephens graduated magna cum laude from the University of Arkansas at Little Rock with a degree in mathematics and English. She has a master's degree from the University of Arkansas at Fayetteville, where she also completed some post-graduate work. She is the owner and principal of Richard A. Stephens and Associates, the oldest appraisal firm in Little Rock. Along with her business partner and husband, Richard A. Stephens, MAI, SRA, she maintains a practice offering a broad scope of services, specializing in eminent domain, litigation support, and real estate tax appeal.

by Sara W. Stephens, MAI
COPYRIGHT 2012 The Appraisal Institute
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

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Title Annotation:NOTES AND ISSUES; Appraisal Institute
Author:Stephens, Sara W.
Publication:Appraisal Journal
Geographic Code:1USA
Date:Mar 22, 2012
Words:2133
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