What is an SRA?
An SRA is a Senior Residential Appraiser – a designation issued by the Appraisal Institute. Fewer than 1% of all appraisers in the United States have this designation!
To obtain this certification, an appraiser must have more education and experience than a licensed or even a certified appraiser. SRAs have chosen to specialize in residential real estate, and to be eligible for this designation, have obtained a minimum of a four year degree from an accredited educational institution. They must also meet experience requirements (4500 hours of experience, including 2000 hours of residential appraisal experience); and pass seven examinations that reflect 181 hours of classroom instruction on appraisal principles, residential valuation techniques, report writing, and standards of professional practice.
An SRA is qualified to provide a wide range of services, including opinions of value, evaluations, reviews, and consulting and advice regarding investment decisions.