What is an IFA designation?
At property appraiser, our appraisers are IFA-Member designated. What does this mean? An IFA – Member is a designation conferred to a residential appraisal specialist who is a Member of the National Association of Independent Fee Appraisers (NAIFA).
NAIFA was founded in 1961 as a non-profit professional association of real estate appraisers. Today, NAIFA has chapters throughout the United States, Canada, and Mexico. The Association’s objectives are to raise the standards of the appraisal profession, gain recognition for its members as qualified professionals, and to promote fellowship among appraisers.
There are seven levels of membership with four professional designations, plus two designation programs for designated members of other associations that sponsor The Appraisal Foundation. The program was created to offer assurance to clients that they’re getting a qualified, experienced, competent appraiser with up-to-date education and a comprehensive knowledge of industry standards.
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Each designation type follows the same basic steps to meet the criteria for a NAIFA designation – attain NAIFA Associate Appraiser membership to determine eligibility based on experience, licensing, and qualifications, and submit a completed demonstration report for peer review to illustrate report competency. There are also accelerated designation programs appraisers can receive through sponsor agreements.
You can learn more about specific NAIFA designations and their requirements here.
Appraisal designations provide clients with peace of mind in an ever-changing real estate world. The IFA, IFAA, IFAS, and IFAC members are in the top tier of appraisers, and are considered subject matter experts in their field. Because of its rigorous education and experience requirements and commitment to adhere to strict industry standards and a professional code of ethics, you can be confident an appraiser with an IFA – Member designation will provide you with the very highest quality appraisal service.
This information was sourced from the National Association of Independent Fee Appraisers