IFAC designation (source: National Association of Independent Fee Appraisers - http://www.naifa.com/member/require/index.html)
IFAC – Appraiser - Counselor is a designation conferred to the appraiser experienced in counseling who is a Member of the National Association of Independent Fee Appraisers (NAIFA). It is the highest recognition of proficiency.
NAIFA was founded in 1961 as a nonprofit professional association of real estate appraisers. Today, NAIFA has chapters throughout the United States, Canada, and Mexico. 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. There are seven [7] levels of membership with four [4] professional designations plus two [2] designation programs for designated members of other associations that sponsor The Appraisal Foundation.
IFAC designates must be an IFAS – Senior Member in good standing for at least three [3] years and must meet the other following requirements for IFAC – Appraiser – Counselor Member status.
Education:
Completion of the Investment Analysis Course 2.4
Experience:
Must have five [5] years experience in counseling.
Demonstration Report:
Must submit a narrative counseling appraisal report, conforming to prescribed guidelines on a property that provides the ability to document and support a reasonable and probable conclusion to a client's question, rather than a specific value estimate. Also must submit at least ninety [90] days prior to either Annual or Semi-Annual meeting of the National Board of Directors three [3] completed copies (one must be original) of the Counselor Report, along with application for Counselor, and photographs & material used in the original report.
Other:
Thesis must be approved by the National Education Committee and submitted to the Board of Directors for final approval.
Because of its rigorous education and experience requirements and commitment to adhere to strict industry standards and a professional code of ethics, you can be confident an appraiser with an IFAC – Appraiser – Counselor designation will provide you with the very highest quality residential appraisal service.