The American Society of Appraisers is a multi-discipline, non-profit international organization of appraisal professionals. ASA certifies members in various disciplines, including Machinery and Technical Specialties (MTS). The MTS discipline includes ASA members who perform market or liquidation value appraisals for various purposes such as sale, acquisition, ad valorem tax, eminent domain, collateralization, insurance or residual forecasting.
A specialty within the MTS discipline is Machinery and Equipment (M&E). Appraisers in this specialty are professionally qualified to evaluate all types of industrial properties; machine shops; refineries; hospitals; communications facilities; transportation equipment; process facilities; construction equipment; office machines (computers, copiers, etc.); as well as the entire contents of buildings. The M&E appraiser provides estimates of fair market value, fair market value in use and valuation for ad valorem tax purposes.
Each accredited member of the American Society of Appraisers has earned a professional designation in one or more specialized areas of appraisal. To receive the accreditation, the appraiser must pass intensive written examinations, submit representative appraisal reports for peer review and be screened for his or her ethical behavior. To qualify for the Accredited Senior Appraiser designation (ASA), an individual must have a minimum of 5 years of full-time equivalent appraisal experience and a college degree or its equivalent. ASA has a mandatory reaccreditation process whereby designated members must regularly submit evidence of professional growth through participation in professional activities and continuing education.
Mr. Kerr and Mr. Olson are both long-standing members of the American Society of Appraisers, holding designations in Machinery and Technical Specialties, and specializing in Machinery & Equipment. According to the American Society of Appraisers web site, there are only 400+ ASA-certified equipment appraisers in the United States. As a point of reference, the Bureau of Labor Statistics indicates that there were approximately 77,800 appraisers and assessors of real estate as of 2010.