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IFA designation (source: National Association of
Independent Fee Appraisers - http://www.naifa.com/member/require/index.html
)
IFA - Member is a designation conferred to a residential
appraisal specialist who is a Member of the National Association of
Independent Fee Appraisers (NAIFA).
NAIFA was founded in 1961 as a nonprofit professional association
of real estate appraisers. Today, NAIFA has chapters
throughout the United States, Canada, and Mexico. 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.
There are seven [7] levels of membership with four [4] professional
designations plus two [2] designation programs for designated
members of other associations that sponsor The Appraisal
Foundation.
IFA designates must be a member (Candidate, Associate, or
Affiliate) of NAIFA and must meet the following requirements for
IFA - Member status:
Education:
Experience:
Receive credit for 2,500 hours of appraisal experience in no less
than two [2] years.
Demonstration Report:
Submit an original and one copy of a Self-Contained Appraisal
Report that communicates a Complete Appraisal of a one [1] to four
[4] unit residential property. Also submit an Experience
Rating Form (ERF), which must be approved by the National
Admissions Committee.
Because of its rigorous education and experience requirements and
commitment to adhere to strict industry standards and a
professional code of ethics, you can be confident an appraiser with
an IFA - Member designation will provide you with the very highest
quality residential appraisal service.
- Receive a passing grade on the IFA member examination
(examination can be waived if you submit proof of having
residential state certification. Completed at
least four [4] years of college or its equivalent
- Complete a minimum of 120 classroom
hours in subjects related to real-estate appraisal including Course
1.1, 1.2, 1.4, 1.5, and 5.0, the NAIFA Ethics course, or other
equivalent thereof
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