Designations for appraisers in Latin America are classified into local designations and international designations. The purpose of such designations in Latam is to ensure that the holder of such designation has a certain level of understanding and experience in real estate valuation in Latin America. This thereby allows for real estate market participants to quickly qualify and determine the quality of the valuation services they may contract. Many times, it is important to have both designations – an international designation and a local one, that allows for the appraisal to be utilized for local loans and banking regulators, but also be accepted by international investors. LOGAN provides real estate valuation reports with both international and local designations in the countries in which it operates, including from the offices of LOGAN Mexico.


International designations are often more difficult to achieve than local designations, as they have longer experience requirements – and more difficult examinations. In Mexico, there is a moderate level of understanding of the international real estate designations – there are minimal requirements of such designations required by real estate funds – or banks.

MAI – Appraisal Institute (USA), AI Designations

The MAI has long since been the highest designation for appraisers in the US for the appraisal for commercial property. There are not many MAI appraisers in Mexico, because the country is just starting to grow in terms of institutional real estate and institutional valuation needs. The requirements include experience, ethics, and difficult education requirements as well as tests. This process often takes approximately 5+ years to complete. All tests are in English – which makes the process a challenge for non-native English speakers. Bryan L. Dragoo (MAI Appraiser Mexico, 2013) and Robert L. Dragoo (MAI Appraiser Mexico, 2017) both maintain the designation, and work at LOGAN Mexico.

– Designated Appraisers Mexico: 5

– Real Estate Fund Required: Medium

– Bank Required: Low

RICS – Registered Valuer (UK)

The Royal Institute of Chartered Surveyors is a globally recognized professional body for highly qualified professionals in real estate, construction, and infrastructure and is well recognized in the industry of real estate valuation in Latin America (Colombia, Mexico, Peru, Costa Rica). This designation is well recognized in Europe and globally and is often required by companies that have headquarters in the EU. Unlike the Appraisal Institute, RICS publishes a valuation standard called the Red Book, which RICS valuers must adhere to. The Red Book is often used as standard for real estate valuation in Latin America. The designation of RICS registered valuer is held by Bryan L. Dragoo (RICS appraiser Mexico), and Robert L. Dragoo (RICS appraiser Mexico).

– Designated Appraisers Mexico: 5

– Real Estate Fund Required: Low

– Bank Required: Low

Regulated by RICS – Valuer (UK)

This designation is for firms which have RICS registered valuers. It allows a firm to be recognized by RICS on a company level. LOGAN Mexico is part of LOGAN which is a RICS Regulated firm (valuer) since 2019. LOGAN is the 4th company in Latin America to achieve this designation.

– Designated Appraisers: Firm Designation

– Real Estate Fund Required: Low

– Bank Required: Low

Real Estate Certificaciones Mexico

Local – SEP (Secretaria de Educación Publica)

Local designations are regulated at the federal and or local level, which decide the requirements that appraisers must meet based on the specialty required in appraisal. This activity is regulated by the Ministry of the Economy through standard NMX-R-081-SCFI-2015 for valuation services, which divides the exercise into public and private real estate. The training of appraisers was inaugurated by the UNAM in the late 1980s, however in the 1990s, with the large problem of non-performing assets on bank balance sheets, the lack of techniques and standards for bank appraisal was evident. Changes were made so the appraisal no longer only represented a procedure from a bureaucratic process, and rather became a decision-making instrument, governed by norms and requirements for public and private institutions.

Certified universities, give postgraduate degrees in real estate appraisal, which are automatically recognized by Federal authorities (SEP – Secretaria de Educación Publica). This certification needs to be applied for and reviewed by federal authorities and maintained through continued education for real estate appraisal. Banks, real estate funds, and public organizations require that the appraiser is certified under the SEP.

The SEP certification represents the transition of real estate appraisal in Mexico to a well-recognized and formed profession in Mexico. The practitioner must keep up to date with relevant topics and education – and regulations. It has helped usher in the use of IVS for most commercial real estate appraisals utilized by banks and improve ethical standards of the profession in Mexico.

– Designated Appraisers: 250+

– Real Estate Fund Required: Required

– Bank Required: Required


Real estate consulting in Mexico has few designations. The concept of market studies for real estate is a relatively new concept in Mexico, and the market is limited but growing. Since the country has been in constant growth mode for 15+ years – developers have not needed detailed market studies to determine the feasibility of projects. This is changing, as the economy in 2020 faltered, more companies would now order an office market study in Mexico or an industrial market study in Mexico, for example, because of the market uncertainty.

MRICS – The Royal Institute of Chartered Surveyors does recognize consultants as specialists and experts in real estate consulting and valuation as MRICS. LOGAN has 3 RICS designation achieved for real estate consulting in Mexico and 2 for real estate valuation. LOGAN has deep knowledge and understanding in real estate consulting in Latin America, and the MRICS designation helps establish standards and legitimacy for such work. The requirements for the MRICS are experience, a RICS – accredited degree, or 5 years of experience and a bachelor’s degree, or ten years of experience operating at a level of seniority, specialization, or in academia.

ATSM – This is not a designation or certification, but a standard that is applied to Property Condition Assessments in Mexico. The was created by ATSM, a material and building standards organization in the United States. Mexico has been working with ATSM in aligning standards in other industries in Mexico. LOGAN offers PCAs or Property Condition Assessments in Mexico and has done property condition assessments on some of the largest properties in Mexico including hotels, hospitals, office buildings and shopping centers.