What Does the SRA Designation Mean?

What is the SRA designation?

appraiser-sra-designation

Are you familiar with what the SRA designation is? If you’ve never heard this term before then hang around because I’m going to share with you what it is and how it can benefit you if you need appraisal services.

Whenever I’m speaking to a group of real estate agents or other professional who use appraisal services I tell them that the SRA designation, which I hold, is similar to the CPA designation for accountants. The SRA designation is the highest residential real estate appraisal certification awarded by the Appraisal Institute.

A person can be an appraiser without being designated, however, an appraiser that holds the SRA designation is required to have more experience and educational requirements than state certification calls for.

SRA designation requirements

To hold the Appraisal Institute’s SRA designation appraisers must:

  • Be of good moral character;
  • Meet high standards and ethics requirements;
  • Complete and pass extensive educational requirements;
  • Submit proof of experience performing residential appraisals; and
  • Receive credit for demonstrating their knowledge of residential real estate appraisal concepts and principles

sra-designation Appraisers who hold the SRA designation must follow the Appraisal Institute’s code of professional ethics and standards of professional appraisal practice.

To satisfy the experience requirements appraisers must submit and receive credit for at least 3,000 hours of appraisal experience within the past 24 months.

This work is screened by Appraisal Institute members to make sure the appraiser has a good grasp of appraisal methods and practices.

Difference between an SRA and a non-designated appraiser

In addition to the minimum requirements for state certification, the appraiser must complete the Standards and Ethics requirement within the first year of Candidacy, must hold a 4 year undergraduate degree (if admitted after January 1, 2015), and must pass a Residential Equivalency examination.

The continuing education requirements for Appraisal Institute members are also more extensive than state certification because they require more hours of classes.

These requirements are good for the consumer because they can be assured that the designated appraiser they choose will most likely have taken additional courses to keep them up to speed on the most recent changes to the industry including better valuation methods.

Tom Horn holds the SRA designation

I have held the SRA designation since 1995 and value the additional training and experience I have obtained by choosing to pursue membership with the Appraisal Institute.

My designation benefits my clients because it allows me to provide a quality service backed by extensive education and many years of experience.

If you need a quote on an appraisal or have an appraisal related question feel free to contact me and I’ll do my best to answer it for you.

Order Your Pre-listing Appraisal Now

Question

Do you have anything you’d like to add? If so leave your thoughts below and we’ll keep the conversation going. As always, thanks for reading.

If you liked this post subscribe by email (or RSS feed). Thanks for visiting.

Comments

  1. Nice recap for the public or anyone not familiar with the SRA designation. I remember the day that you reached that milestone….seems like only yesterday. Certainly, alot of hard work goes in to achieving the designation. You had a good mentor. 🙂

  2. Nice Tom. Glad to see you are focused on being professional. You’ve held this designation for quite some time.

    • Thanks Ryan. Yes I have held the SRA for quite some time but feel like it has contributed to getting some business that I normally would not have received.

  3. I am a big fan of the SRA designation. The only negative things you will ever hear about the SRA come from the appraisers who do not have one. It is difficult and expensive to obtain (classes and tests), expensive to maintain (dues and classes), and is so respected in the industry because it is the only designation that is not given away to anyone, even honorary AI members. Everyone who has an SRA designation earned it.

    • Right on Gary. I know you hold the SRA designation as well and I know how well respected you are in the Portland, Oregon area. You are right about it not being given away, and the process to hold and maintain the designation contribute to quality appraisal work.

Speak Your Mind

*

 

Sign up and get valuable content!

  • Get local real estate market data
  • Learn valuable information from a seasoned appraiser
  • Find out what adds value to your home

I respect your privacy. Your information stays with me.