The North Star Chapter of the Appraisal Institute is dedicated to developing strategic partnerships to advance, promote, and uphold the valuation profession, our Chapter members, Appraisal Institute, and its designations.
On January 1, 1991, the American Institute of Real Estate Appraisers (AIREA) and the Society of Real Estate Appraisers (Society) merged to create the Appraisal Institute. As a result, the Metro/Minnesota Chapter of the Appraisal Institute was formed from several of the local AIREA and Society chapters. Over the years, the chapter consolidated with other surrounding chapters and the geographic area expanded. Upon the unification of the Metro/Minnesota Chapter and the Duluth-Superior Chapter in June 2006, the chapter officially became the North Star Chapter of the Appraisal Institute.
At present, the North Star Chapter consists of Designated Members, Candidates for Designation, Practicing Affiliates, and Affiliates within Minnesota, North Dakota, two-thirds of South Dakota, ten counties in western Wisconsin, and the Canadian Province of Manitoba.
The Chapter holds numerous educational seminars, quarterly Chapter meetings, and various social events throughout the year, which allow members to network with colleagues across industries and borders, providing opportunities to forge and maintain important professional relationships. As a Chapter member, you will be joining a group of real estate professionals who are truly the most qualified in the industry.
The American Institute of Real Estate Appraisers (AIREA) is founded, with the goals of establishing the professionalism of real estate appraisers, selecting and identifying competent members, and upholding high standards of practice.
AIREA, an affiliate of the National Association of Real Estate Boards (now the National Association of REALTORS®) drafts its Code of Ethics.
The institute promotes professional advancement of its members by establishing the MAI (Member, American Institute) designation.
The first national appraisal course is taught.
Meanwhile, the Appraising Division of the U.S. Building and Loan League sponsors, provides office space for, and temporarily funds the Society of Residential Appraisers (which later becomes the Society of Real Estate Appraisers).
AIREA converts junior membership into the candidacy program.
The Society establishes the SRA (Senior Residential Appraiser) designation.
By 1963, the professional base of the Society’s membership has grown from a purely residential orientation to a broader market of commercial, industrial, and rural properties. At this point, the Society changes its name to the Society of Real Estate Appraisers.
AIREA adds the RM (Residential Member) designation.
The SREA (Senior Real Estate Analyst) and SRPA (Senior Real Property Appraiser) designations are established.
On January 1, 1991, AIREA and the Society merge to create the Appraisal Institute.
As a result, the Metro/Minnesota Chapter of the Appraisal Institute is formed from several of the local AIREA and Society chapters.
Over the years, the chapter consolidates with other surrounding chapters and the geographic area continues expanding.
Upon the unification of the Metro/Minnesota Chapter and the Duluth-Superior Chapter in June 2006, the chapter officially becomes the North Star Chapter of the Appraisal Institute.
AI begins issuing two review designations: AI-GRS (Appraisal Institute – General Review Specialist) and AI-RRS (Appraisal Institute – Residential Review Specialist). These are the institute’s first new designations in more than 20 years.
The North Star Chapter holds its 20th Annual Real Estate Trends Seminar.