APPRAISAL INSTITUTE, INC.
CHICAGO, IL

The Appraisal Institute, Inc., established on March 08, 1991, is a prestigious organization that has significantly contributed to the advancement of the real estate appraisal profession globally for over 85 years. As a leading entity in fostering high standards of practice within the industry, it plays a pivotal role through its designation programs such as MAI (Member, Appraisal Institute), SRPA (Senior Residential, Predominantly Apartment Property Member), SRA (Senior Residential, Land Members), AI-GRS (General Review Specialist), and AI-RRS (Residential Review Specialist) certifications. These designations represent rigorous standards of education, testing, experience, and demonstrated knowledge that its members are held to, ensuring the provision of high-quality real estate services. The Institute supports its mission through various initiatives such as the Appraisal Institute Education Trust (AIET), a 501(c)(3) organization aimed at securing the future of the valuation industry with education programs, research grants, and scholarships. Additionally, the Appraisal Institute Relief Foundation (AIRF) offers emergency assistance to those in need following disasters or emergencies. With its foundation built on a strict code of ethics and standards for professional appraisal practice, the Appraisal Institute not only advances the profession through education but also acts as a major resource hub via services like the Y.T. and Louise Lee Lum Library and InfoExchange for professionals worldwide. Leadership has seen figures such as James L. Murrett, MAI, SRA, serving as president in 2018, reflecting its commitment to governance excellence. Operating from Chicago, Illinois, with mailing address at 200 W. Madison St., Suite 2000, the Appraisal Institute maintains a global network of professionals providing real estate solutions across diverse property types including commercial buildings, industrial facilities, and residential homes. It is managed by distinguished directors such as Craig Steinley, Elaine Liz-Ramirez, and Michael J. Mignogna, ensuring that its operations align with both industry standards and the broader goals of fostering an ethical and knowledgeable appraisal community.