Property Valuation
In Wyoming, the Appraisal Institute designations (MAI, SRA) indicate:
AState licensing that is required for all appraisers
BAdvanced professional achievement recognized by the Appraisal Institute beyond state licensing requirements✓ Correct
CFederal certification required for bank appraisals
DWREC-approved appraisal designations
Explanation
Appraisal Institute designations (MAI for commercial appraisers; SRA for residential appraisers) represent advanced education, experience, and examination requirements beyond state licensing. These designations are professional achievements recognized by the appraisal community, not government requirements.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
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