FAQ

Field of GrainToday is the age of specialization and the real estate profession is no exception to the rule. Real estate appraising is a complex field. The sale of your home, business or any "real property" may be the largest transaction of your lifetime. Appraisers' opinions can play an important part in almost any real estate transaction. For this reason an ASA Designated Independent Appraiser should be consulted. 

Questions

Answers

What is an Appraisal?

An appraisal is an opinion of value or the act or process of estimating value. This opinion or estimate is derived by using the three common approaches, all derived from the market.

They are: 

  • Cost Approach
  • Comparison Approach
  • Income Approach

Then, after thorough analysis of all general and specific data gathered from the market, a final estimate or opinion of value is correlated. 

What is the ASA?

The ASA was founded in 1961 as a non profit professional association of real estate appraisers. Today, our Association has chapters through­out the United States, Mexico, Canada, and we continue to grow both in number and stature.

What is the purpose of the ASA?

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.

What is a designation?

A designation indicates that the appraiser has attained a higher level of education in the appraisal industry and has met greater experience level requirements.

Isn't a State Licensed Appraiser enough?

State Licensing was intended to set minimum standards for appraisers. It accomplished just that, the minimum requirements. Although in should be noted that each state differs by their requirements.

Does it really make a difference?

Absolutely! To attain an ASA designation with our reputable appraisal organization, the appraiser member has met the qualifying criteria and the rigorous requirements that attest to the appraiser's knowledge, ability and methodology utilized in providing quality appraisal reports.  Plus, this designation assures the client that they are engaging a qualified, experienced, competent appraiser having up-to-date education and knowledge of the profession's standards.