The SRPA membership designation is held by appraisers who are experienced in the valuation of commercial, industrial, residential and other types of property.
The requirements that an appraiser must have fulfilled for the SRPA designation were as follows:
- Pass rigorous education requirements
- Received credit for real estate appraisal experience, at least half of which had to relate to income-producing properties
- Received credit for one income property demonstration appraisal report, which exhibited two forms of depreciation, physical incurable deterioration or either functional or external obsolescence
- Conduct his or her professional activities in accordance with the Appraisal Institute Code of Professional Ethics and are subject to a peer review process, which enforces the Code of Professional Ethics
- Appraisal Institute SRPA members are required to adhere to strict continuing education requirements to ensure they are up-to-date with the evolving real estate field.
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Some designated members may also hold the SREA or RM membership designations, which were conferred by the Appraisal Institute�s predecessor organizations. The SREA designation is held by appraisers who are experienced in real estate valuation and analysis and advise clients on real estate investment decisions. The RM membership designation is held by appraisers who are experienced in the valuation of single-family dwellings and two-, three-, and four-unit residential properties.