Appraisers

First and foremost, I want to commend you for what I consider to be a fine and generally even-handed treatment of real estate appraisal (Aug. 29). After many years of relative obscurity, we appraisers have found ourselves the subject of various recent local and national newspaper articles. I believe that your story was one of the better, most insightful, of these treatments.

It is a travesty that there is no regulation (generally) of our business. Bad appraisers hurt the credibility of all of us in the profession. More important, as your article points out, it is ultimately the public that suffers from the shoddy performance of those uninformed and unethical members within our ranks.

I am pleased that your article gave some attention to the American Institute of Real Estate Appraisers and the MAI designation. However, I must protest your allusion to a tired and old joke about what MAI stands for. The MAI designation is the oldest (50-plus years) and, by far, the most highly regarded indication of professionalism within the appraisal field. Lending institutions, government agencies, attorneys, and other frequent users of appraisers, routinely require an “MAI Appraisal.” The Appraisal Institute is undisputedly on the leading edge of the profession.

Again, I commend you on the fine article. I hope responsible reporting such as yours will result in drawing attention (the right kind of attention) to the problems that plague the appraisal field. Maybe then changes can be effected that will result in the improvements we so desperately need.

MICHAEL N. ARNOLD MAI

Santa Barbara