SRA designation (source: The Appraisal
Institute)
SRA stands for Senior Residential Appraiser, and is a
designation conferred by the Appraisal Institute. The Appraisal
Institute is an international membership association of
professional real estate appraisers, with more than 18,000 members
and 99 chapters throughout the United States, Canada and abroad.
Its mission is to support and advance its members as the choice for
real estate solutions and uphold professional credentials,
standards of professional practice and ethics consistent with the
public good. The SRA designation, the Institute's most prestigious
for its members who practice primarily residential appraisal, is
held by real estate solutions providers who are experienced in the
analysis and valuation of residential real property.
SRA designates must meet the following
requirements:
Education:
- Receive a passing grade on six examinations that reflect
181 hours of classroom instruction and that test the appraiser's
knowledge of appraisal principles, residential valuation
techniques, report writing and standards of professional
practice
- Hold an undergraduate degree from an accredited
educational institution (or satisfy a specified
alternative)
Experience:
Receive credit for 4,000 hours of experience, including 2,000 hours
of residential appraisal experience, all of which must meet strict
criteria.
Demonstration Report:
Receive credit for a demonstration appraisal report relating to a
residential property that demonstrates the ability to present a
properly supported value estimate or opinion evaluating the nature,
quality, or utility of a parcel of real estate or any interest in,
or aspect of, real property, or fulfill an approved comparable
alternative.
Because of its rigorous requirements and commitment to providing
valuable information, continuing education and other valuable
resources to its members, you can be confident an appraiser with an
SRA designation will provide you with the very highest quality
residential appraisal service.