The Appraisal Institute's SRA designation is a prestigious national professional credential awarded to residential real estate appraisers who meet rigorous education, experience, and ethical standards. "SRA" stands for Senior Residential Appraiser. This designation signifies that an appraiser has demonstrated advanced knowledge and competence in the appraisal of residential properties, including single-family homes, apartments, and small residential income properties.
To earn the SRA designation, candidates must:
Education: Complete a series of courses and pass examinations covering topics such as real estate principles, market analysis, and advanced residential applications.
Experience: Accumulate a significant amount of practical appraisal experience, typically a minimum number of hours over a set period.
Ethics: Adhere to the Appraisal Institute's Code of Professional Ethics and Standards of Professional Appraisal Practice.
Demonstration Report: Complete and submit a demonstration appraisal report that meets the Institute's rigorous standards.
The SRA designation is highly regarded in the industry and signifies a high level of expertise and professionalism in residential property appraisal.