American Society Of Appraisers (ASA)
Definition of "American Society of Appraisers (ASA)"
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.
Popular Real Estate Terms
An opening with a hinged cover allowing access from one level to another in a structure. Often installed in a roof or the floor of a building to allow the entrance of people and materials ...
See annuity due. ...
Continuous beam on top of supporting walls, usually constructed of concrete and often having steel rods for additional strength placed within it. Supplies lateral support as well as ...
Contractual provision specifying a dollar amount or rate an individual to the contract must pay for not conforming to its terms. An example is the fee charged for a late mortgage payment. ...
Written agreement in which the lessee pays rent to the lessor for the use of real property for a stated time period. An example is the tenant's rental of an apartment or office space. ...
Mortgage placed on a property after a previous mortgage. It can be a second, third, etc. mortgage. A junior mortgage is subordinate to the terms of a previous mortgage. Junior mortgages ...
See common law. ...
The tenant is forced to leave the premises if he complains about the poor condition of the apartment or office space he has leased. This type of eviction is illegal in many states. ...
Amount paid to a person or business for bringing the parties together in a business arrangement. The finder may also act in a consulting capacity. The fee may be a flat amount or rate, a ...
Have a question or comment?
We're here to help.