Definition Of American Society Of Appraisers (ASA) In Real Estate

Definition of "American Society of Appraisers (ASA)"

Adrean Hayashi, Real Estate Agent Magnum Opus Real Estate

The American Society of Appraisers, also referred to as ASA, is the largest voluntary membership, a multi-discipline trade association that stands for and promotes its appraiser members. Having been founded in 1936, the American Society of Appraisers is also one of the trade associations, eight in total, that collaborated to launch the Appraisal Foundation responsible for setting specific standards for the profession of real estate valuation.

The journey taken by the American Society of Appraisers transformed the society from its beginning. When it was formed, its official name had been the American Society of Technical Appraisers (ASTA), and in 1939, the Technical Valuation Society (TVS) was also formed. As both societies had the same purpose, they merged into one entity, which is the American Society of Appraisers we have today. Furthermore, in 2017 the ASA merged with the National Association of Independent Fee Appraisers (NAIFA). Through this last venture, the society increased its membership, exceeding 5,500 representatives in around 75 countries.

What does the American Society of Appraisers do?

Because these various societies are consolidated into one singular nonprofit organization, the ASA has a unique position. Gathering appraisers of all disciplines into one organization offers opportunities to cooperate towards the elevation of the appraisal profession standards. This allows appraisers to work with all types of properties: intangible, tangible, real, or personal.

The main goals of the American Society of Appraisers are:

Cultivates excellence in the appraiser profession through education, accreditation, publication, with a focus on professional ethics;
Sets and respects the code of ethics and the appraisal practice principles;
Evaluates educational accomplishments of practicing appraisers;
Grants professional designations to qualified society members and many more;
Aims to gain acknowledgment of the appraisal profession from the public and private entities;
Stimulates development and research in fields related to the appraisal profession.