RAA and GAA Appraiser Designations
By ProMatcher Staff
Appraiser Designations Offered by the NAR
The NAR offers two designations to experienced real estate appraisers that belong to their organization or one of its affiliates. These designations offer additional piece of mind to their clientele and prove their professional knowledge. The designations are the RAA and the GAA.
The RAA (Residential Accredited Appraiser) is awarded to experienced residential real estate appraisers.
The GAA (General Accredited Appraiser) is awarded to experienced, commercial and residential appraisers.
In order to be eligible for one of these designations, candidates must already possess a license or certification from their home state. They must also complete at least 1,000 additional hours of appraisal experience after obtaining their state license. As part of the application process, the individual must continue their education through further coursework and subsequent testing.
What is the National Association of Realtors?
The National Association of Realtors (NAR) is one of America’s largest trade associations, with over a million members. Members are expected to adhere to a strict code of ethics and uphold certain standards of professionalism. Real estate appraisers are tasked with providing an independent and impartial valuation of any property. They must adhere to strict privacy guidelines to protect their clients and maintain their credibility.
Before hiring a real estate appraiser, make sure to ask them about their training, years of experience, and membership to any professional organizations.
Appraiser Independence
Real estate appraisers that are a part of the NAR are expected to provide accurate and impartial valuations. Lenders rely heavily on appraisers to properly assess the value of a particular piece of real estate. The credibility of an appraiser is often dependent on their independence and compliance with all federal and local regulations.
Read More:
Related: A Guide to the National Association of Realtors
Related: Other Appraiser Designations and Certifications
Related: Types of Associations for Appraisers
About the Author
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| ProMatcher Staff, ProMatcher
Orlando, FL 32803
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