The Senior Residential Appraiser (SRA) designation is conferred by the Appraisal Institute. The SRA designation, for members who practice primarily residential appraisals, is held by professionals who can provide a wide range of services relating to residential properties, including providing opinions of value, evaluations, reviews, consulting and advice regarding investment decisions, among others.
The Appraisal Institute is an international membership association of professional real estate appraisers, with more than 19,000 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.
An array of designations and affiliate types are offered by the Appraisal Institute. The appraisal industry has become increasingly competitive, and joining the Appraisal Institute demonstrates that an appraiser is well-credentialed and highly qualified to perform home valuations.
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A candidate must meet a series of requirements to submit an application for SRA designation. Prerequisites are reviewed by a panel and include ethics certificates, educational background, licensing, extensive experience, and a completed demonstration report to illustrate report competency. Additionally, SRA designates must adhere to strict continuing education requirements to help members stay informed on the ever-evolving real estate field.
You can learn more about specific Appraisal Institute designations and their requirements here.
Because of its rigorous education and experience requirements and a commitment to providing valuable information, continuing education, and other resources to its members and affiliates, you can be confident an appraiser with an SRA designation will provide you with the very highest quality service on any appraisal assignment.
This information was sourced from The Appraisal Institute