What is a designation? Why do I need one?

What is a designation? Why do I need one? I am a licensed or certified appraiser, isn't that good enough? For starters a designation is a mark to characterize a name or title. A professional designation with the MBREA represents education, experience and types of property one has the qualifications to appraise. The RA designation signifies an appraiser who specializes in residential properties while the MRA designation signifies an appraiser who is qualified to appraise commercial and industrial properties. A designation indicates to a client that the appraiser has gone beyond the minimum requirements for licensing and certification. This must be stressed; licensing and certification are the minimal requirements as set forth by the Appraisal Qualifications Board. A designation shows that an individual has been tested and examined by one's peers. In order to receive a designation one must have written demonstration reports and submitted them for peer review approval. This is over and above the requisite courses and experience credits. All too often today I hear appraisers state that designations are meaningless, that they do not help them in their practice. I do not know if it will help or not but I do know many designated appraisers who feel their designations has paved the way to more challenging assignments. I didn't seek a designation for others; I did it for personal growth. When I applied as a candidate for designation it was for personal satisfaction, to see if I measured up to others that I looked up to within my profession. The task wasn't easy, I had to write a narrative demonstration appraisal using all three approaches to value; in other words, I had to demonstrate to my peers that I knew how to appraise real property and write a report that went well beyond mere USPAP compliance. It took a great deal of time and a lot of energy but in the end I achieved my goal and was awarded my designation As I stated, the MBREA awards two designations and we have a very busy designation committee. Currently there are over twenty candidates going through the designation process. All candidates are assigned mentors from the designation committee to help and guide them on this journey. The candidates are not alone as this is a learning experience and interaction with their mentors is encouraged. The goal is for the candidates to be the best they can be, and to show the public by the designation that they earn, that they are at a level above those that are state licensed and/or certified. There has been a good deal of discussions by various groups concerning the difficulty of the process and whether or not a demonstration report is necessary. Some appraisal organizations have allowed candidates the option to take additional courses and then pass an extensive examination. The problem I see with this is that the candidate is not demonstrating that they know how to take the theory and apply it in a real world situation as they must when writing a self contained appraisal report. The MBREA always has and will continue to require a demonstration report for designation and believes it is the best way to ensure proficiency. A designation marks the differences between a professional appraiser and an occupational one. I encourage all appraisers who have not applied for MBREA designation to do so. It will be one of the most rewarding highlights in your professional career as a real property appraiser. Wayne Valliere, RA, IFA, is the 2008 president of the Mass. Board of Real Estate Appraisers, Dedham, Mass.