IFAS Designation (source: National Association of
Independent Fee Appraisers - http://www.naifa.com/member/require/index.html
)
IFAS - Senior Member is a designation awarded to the
income-producing property specialist 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.
IFAS designates must first meet the requirements for the
IFA-Member designation and must meet the other following
requirements for IFAS - Senior Member status:
Education:
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
include appraisals other than one [1] to four [4] family
residential properties.
Demonstration Report:
Submit an original and one copy of an acceptable narrative
demonstration appraisal report on an income producing property,
which must conform with prescribed guidelines of NAIFA. Also
must submit an Experience Rating Form (ERF), which must be approved
by the Chapter 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 IFAS - Senior Member 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 2.0, 2.1, and 2.2
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 shall include coverage of
USPAP
- Completed at least four [4]
years of college or its equivalent