Licensed and Designated Appraisers Defined-Part 2

Licensed and Designated Appraisers Defined-Part 2 of 2

INTERNATIONAL RIGHT OF WAY ASSOCIATION 

image003 

 What is the SR/WA Designation?

The Senior Right of Way Professional (SR/WA) is the most prestigious professional designation granted to those right of way professionals who have achieved professional status through experience, education, and examination.

While the SR/WA professional may be a specialist in one area, they must also be familiar with all disciplines associated with the right of way profession. The SR/WA designation is the only designation reflecting evidence of professional accomplishment in the right of way profession.

APPRAISAL INSTITUTE (AI) – DESIGNATED MEMBERSHIP 

What are the MAI and SRA designations? 

  • The MAI designation is held by appraisers who are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties, and who advise clients on real estate investment decisions.
  • The SRA designation is held by appraisers who are experienced in the analysis and valuation of residential real property.

AMERICAN SOCIETY OF FARM MANAGERS & RURAL APPRAISERS- (ASFMRA)

The American Society of Farm Managers and Rural Appraisers is a professional organization for property economic professionals who provide management, consultation, and valuation services, as well as real estate services on rural and agricultural assets. All members of the Society work under a professional code of ethics, which includes continuing education requirements.

The ASFMRA, founded in 1929, provides members with the resources, information, and leadership that enable them to provide valuable services to the agricultural community.

Accreditation Overview

Many ASFMRA members carry the distinction of being accredited, the highest recognition given by the society. This designation is achieved only after years of professional service, many rigorous hours of education and comprehensive testing conducted by the Society. Accredited designations include:

ASFMRA professionals offer expertise in biotechnology, environmental issues, changing technology, land, property, and business valuation, market trends, and governmental involvement and regulations.

  NATIONAL ASSOCIATION OF INDEPENDENT FEE APPRAISERS

The National Association of Independent Fee Appraisers is an association of professional real estate appraisers committed to the support of its members, for a service of trust and integrity that benefits the members, the profession and the general public.

The Association was founded in 1961 as a non-profit association of professional real estate appraisers. Today, the Association has chapters throughout the United States and Canada, as they continue to expand their market outreach.

Designation Overview

NAIFA’s designation program was formed, in part, to provide assurance to clients that they are engaging a qualified, experienced, competent appraiser, an appraiser having up-to-date education and knowledge of the profession’s standards.  The National Association of Independent Fee Appraisers, a founding member of The Appraisal Foundation, awards its designations to appraiser Members who have successfully met its rigorous requirements. Designated membership categories are: IFA, IFAA, IFAS, and IFAC.

RICS – ROYAL INSTITUTION OF CHARTERED SURVEYORS

A global member organization for professionals in property, land, real estate, construction and related environmental issues.To ensure that members are able to provide the quality of advice and level of integrity required by the market, RICS credentials are:

  • MRICS
  • FRICS  

These titles are awarded to individuals who meet the most rigorous requirements for both education and experience.

IRS REFERENCE INFORMATION

The following information is taken from the Treasury Department Circular No. 230 (Rev.4-2008) Cat. Num. 16586R www.irs.gov.  Regulations governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, Enrolled Retirement Plan Agents, and Appraisers before the Internal Revenue Service.

General Information – Frequently Asked Questions

What is the Office of Professional Responsibility (OPR)?

 The Office of Professional Responsibility (OPR) enforces the regulations governing the practice of attorneys, certified public accountants (CPAs), enrolled agents, enrolled actuaries and appraisers before the Internal Revenue Service (IRS) as set forth in Treasury Department (Circular No. 230). In addition, OPR reviews applications from individuals who wish to become an enrolled agent or enrolled actuary.

 What is the mission of OPR?

The mission of OPR is to Roster excellence in tax professional services by setting, communicating, and enforcing standards of competence, integrity and conduct.”

What is Circular 230? 

Circular 230 provides the regulations governing the practice of attorneys, CPAs, enrolled agents, enrolled actuaries, and appraisers before the IRS.

For more information go to: http://www.appraisers.org/RPHome/EstateandTaxPlanners.aspx

 

Leave a Reply

Your email address will not be published. Required fields are marked *