Steven holds multiple credentials awarded by the Appraisal Institute. The Appraisal Institute is a global professional association of real estate appraisers with nearly 22,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. There are nearly 800 licensed appraisers in NH; roughly 40 are members of the Appraisal Institute.
Designated members agree to adhere to the Appraisal Institute Code of Professional Ethics and Standards of Professional Appraisal Practice, underscoring their commitment to sound and ethical professional practice. Continuing education requirements help Designated members stay informed of developments pertaining to real property valuation, enabling them to provide valuations reflecting the latest in professional practice.
The requirements to become a member of the Appraisal Institute are much more rigorous than the requirements for obtaining a state license. It was not until 2008 that a college degree was required to become certified. So too are the requirements for continuing education: State licensed appraisers must complete an average of 14 hours per year of continuing education but Appraisal Institute members must complete an average of 20 hours per year. There are nearly 800 licensed appraisers in NH; only 40 or so are members of the Appraisal Institute.
The requirements for continuing education are also more stringent: State licensed appraisers must complete an average of 14 hours per year of continuing education but Appraisal Institute members must complete an average of 20 hours per year.
To become a Designated member of the Appraisal Institute, an individual must:
● "Have good moral character";
● Meet standards and ethics requirements;
● Pass rigorous education requirements;
● Submit evidence of experience which must meet strict criteria;
● Receive credit for the demonstration of knowledge requirement; and
● MAI Candidates must also pass a final comprehensive examination.
MAI and SRA Designations
The MAI membership designation is held by professionals who can provide a wide range of services relating to all types of real property, such as providing opinions of value, evaluations, review, consulting and advice regarding investment decisions, among others. Property types may include commercial, industrial, agricultural, residential, vacant land, and others.
The SRA membership designation is held by professionals who can provide this same range of services relating to only residential properties. While the descriptions suggest that a MAI can provide the same services provided by an SRA, this is not necessarily true. After the two introductory courses, SRA Candidates must take four more classes, all of which are residential in nature. MAI Candidates must take eight more classes, all of which address non-residential properties.
AI-GRS Membership Designation
The AI-GRS membership designation is held by professionals who can provide reviews of appraisals of a wide range of property types, including commercial, industrial, agricultural, residential, vacant land and others. The Appraisal Institute established a professional appraisal review designation program in early 2014 in response to the growing and critically important role that appraisal review plays in due diligence, risk management, and risk mitigation for many clients/users of appraisal services. Users of these services are typically lenders and attorneys.
Designated review appraisers pass rigorous requirements that provide them with enhanced professionalism and improve the quality of appraisal review reports AI members provide to their clients. Appraisers who have completed this program have enhanced knowledge and experience in areas of appraisal review that include administrative, compliance or technical.
Steven has expertise in the following standards and regulations:
● Secondary Mortgage Market Guidelines
● Financial Reporting
● Land Trust Alliance
● NH Board of Tax and Land Appeals
● Uniform Standards of Professional Appraisal Practices
● National Trust for Historic Preservation
● IRS Requirements for Non-Cash Charitable Contributions
● Federal Physician Self-Referral Law (a/k/a “Stark Law”)