The Appraisal Institute (AI), headquartered in
Chicago, Illinois
Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...
, is an international association of professional
real estate appraisers.
It was founded in January 1991 when the American Institute of Real Estate Appraisers (AIREA) and the Society of Residential Appraisers merged. The AIREA and the Society were respectively founded in 1932 and 1935. Real estate appraisal emerged as a profession at this point in response to the crash of home values as a result of the Great Depression, building on the intellectual frameworks developed over the course of the 1920s by land value theorists like Ernest McKinley Fisher, Frederick Babcock,
Homer Hoyt, and
Richard T. Ely.
As of February 2007, the Appraisal Institute has more than 21,000 members
and 99 chapters throughout the
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
,
Canada
Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...
, and overseas.
The group publishes the ''Appraisal Journal''.
See also
*
International Valuation Standards Committee
The International Valuation Standards Council (IVSC) is an independent, not-for-profit, private sector standards organisation incorporated in the United States and with its operational headquarters in London, UK. IVSC develops international techn ...
References
External links
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{{Real estate
Real estate in the United States
Professional valuation organizations
Valuation (finance)
Professional associations based in Chicago