IFAA Designation (source: National Association of
Independent Fee Appraisers - http://www.naifa.com/member/require/index.html)
IFAA - Appraiser - Agricultural is a designation awarded
to the appraiser specializing in agricultural, farm, and rural
appraisals who is a Member of the National Association of
Independent Fee Appraisers (NAIFA).
NAIFA was founded in 1961 as a non profit 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.
IFAA designates must first meet the requirements for the
IFAS - Senior Member designation and must meet the other following
requirements for IFAA - Appraiser - Agricultural Member
status.
Education:
Demonstration Report:
Submit an original and one copy (with actual photos) of a narrative
demonstration appraisal report on an agricultural property.
Report must be on an actual working appraisal prepared by the
appraiser on income producing farm, ranch, or rural property
conformed to prescribed guidelines of NAIFA. An Experience
Rating Form (ERF) must also be submitted.
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 IFAA - Appraiser - Agricultural designation will provide you
with the very highest quality residential appraisal
service.
- Complete a minimum of 165 classroom hours in subjects
related to real-estate appraisal including Course 3.0, 3.1, and 3.2
or their equivalent, but at no time shall be below minimum number
of hours required by the Appraiser Qualifications Board for the
Certified General Classification and USPAP Attend a
NAIFA-approved farm, ranch, and rural appraising course, and pass
the agricultural examination
Experience:
Receive credit for 3,000 hours of appraisal experience in no less
than two [2] years. At least half of the 3,000 hours must be
in agricultural properties.
- Meet appraisal experience
requirements as outlined by NAIFA and have completed at least four
[4] years of college or its equivalent