Appraisal Institute - Am I being neglected?

[Salty]

As a residential appraiser and designated member of the Appraisal Institute I feel ignored and not represented whatsoever by the AI. Does anyone else feel this way? Are my feelings unfounded? What are they doing with my dues to help me in a real way? A way that impacts my business for real?

Over the years, I have read pages of updates and things people have posted when one questions the residential membership and some of it is Washington mumbo jumbo blah, blah, blah that seems to have no real impact on an independent residential appraiser on the street each day and other stuff seems geared toward education, which one can still take being non-designated anyway.

The reality is that 90% of my work in Philly Metro is GSE. There is no real way around that and I think for most independent residential appraisers this is also the case. The volume is non-GSE work just is not there. So what is the AI doing to help us? Am I missing something? It is possible AI is in fact advocating and doing a lot for us independent residential appraisers and I am just not aware of it because I am engrossed on my two businesses I run each day, raising 3 kids, etc..

Am I the only designated member that feels this way? Is this an unfounded perception?

I am having a hard time getting past my perception that the AI did nothing to stem the stranglehold of the AMC business model on residential lending that rewards fast and cheap over experience and diligence. Not that they could stop it, but at least do or say something. And not just a one-time blurb in some publication no one reads anyway – I’m talking about a real initiative. Is this just my perception and not reality? Is the AI advocating for us residential people in terms of any of the other issues we are facing right now - racism - push for more appraisers to enter an already saturated profession, watering down of requirements, ...

I am still wrestling with the idea of resigning my designation after 10+/- years before paying my dues this year. It seems to just be resume filler at this point. I would probably drop down to be an affiliate member or something instead where I wouldn’t have to part with just over a grand each year. I am at the point in my life where many major expenses are in my near future and really have to account for each dollar spent and I am not sure I see the ROI here.

I spent so much time and effort getting the designation that I really want to be sure I am correctly informed before making a decision. I do not want to have any regrets. Maybe AI is in fact doing a lot for me behind the scenes and I just do not see it – I really don’t know. Everything I read from AI is either over my head as I am not political at all or simply has nothing to do with my residential practice.

 

[Terrel L. Shields]

When banks and politicos run the business, I cannot blame AI or anyone for being ineffective. NAIFA bankrupted itself by spending millions on lobbying congress when the Realtors and Bankers outnumbered and outspent them respectively.

But it is disingenuous for such groups to promise members action that they cannot accomplish.

 

[Fernando]

I joined AI once and after seeing no benefits never continued.
Being a member allowed me to take some courses with a discount but still not justify the costs.
I know of people who join and the membership to get certified is very important.
I don't need validation. Once a year I go to their annual conference to hear their many classes and meet and see how other appraisers are doing.
Even before the pandemic, I noticed the venue got "cheaper" compared to the first class hotels beforehand.
I'm not sure if there were any conferences past two years. They became irrelevant to me.

I do mostly GE and AI hasn't helped residential appraisers except for some residential classes they offer.
When AMCs came to be, it was a dramatic change in how we did our business and many of us were not ready. Where was AI?
It was a bad time and it forced many to "retire".
NAR has a tiny appraisal branch without any voice because the REALTOR always comes first.
Residential appraisers always been on own with no help from any group.
If Fannie says we have to follow ANSI then it's what we have to do for better or worse. Where was AI?

 

[J Grant]

It seems some residential SRA are able to leverage it to get trust or high end work from banks from their private lending division and or attorney/review/other work. Which may or may not fit with your business model. Maybe ask yourself if you need to market the fact that you have an SRA and have not done so ? ( for the record, I am terrible at marketing But you have to market it the AI can not do it for you...) I am not an AI member, but was trained by two SRA's, so I respect the education.

I agree the AI has done little to help res end and they are in a tough position because the chief appraisers at many of the worst pay AMC;s are designated, so how can the AI go against their own- the SRA does still carry respect but not for run of the mill GSE work, though perhaps it helps get you on certain panels.

Maybe sit down and make a list of how you can market the fact that you are an SRA for any high $ work, then ask yourself will you actually do the marketing ( or hire someone for it ) If a yes, then give a year to see if it pays off and if it does not, drop the membership the next year. If you are not going to market it, then might make sense to drop it this year.

 

[Zephyr999]

Having been a member of American Dental Hygiene Association and now AI & IRWA can say it's not easy to recognize the good being done from professionals unless choose to get involved.
The recent AI elections has an SRA and strong residential proponent moving into the ranks...the negative noise of naysayers often drowns out the positive results a small group dedicated to change can make.
As hygienist, I was involved and saw firsthand the wheels were moving to have RDH representatives on state discipline boards and part of statute rewrites. Get involved...be part of the movement.

 

[CGinMN]

A $1,000 yearly marketing budget will get you a lot more private work than paying AI dues. An SRA can help get referrals and boost reputation, but you can do that other, more effective ways. IMO

 

[glenn walker]

It seems some residential SRA are able to leverage it to get trust or high end work from banks from their private lending division and or attorney/review/other work. Which may or may not fit with your business model. Maybe ask yourself if you need to market the fact that you have an SRA and have not done so ? ( for the record, I am terrible at marketing But you have to market it the AI can not do it for you...) I am not an AI member, but was trained by two SRA's, so I respect the education.

I agree the AI has done little to help res end and they are in a tough position because the chief appraisers at many of the worst pay AMC;s are designated, so how can the AI go against their own- the SRA does still carry respect but not for run of the mill GSE work, though perhaps it helps get you on certain panels.

Maybe sit down and make a list of how you can market the fact that you are an SRA for any high $ work, then ask yourself will you actually do the marketing ( or hire someone for it ) If a yes, then give a year to see if it pays off and if it does not, drop the membership the next year. If you are not going to market it, then might make sense to drop it this year.

 

[J Grant]

A $1,000 yearly marketing budget will get you a lot more private work than paying AI dues. An SRA can help get referrals and boost reputation, but you can do that other, more effective ways. IMO

Idk...I was under the impression a number of trust departments and private lending divisions or forensic accountants would have SRA as a credential they look for - but without strategic marketing of it , then having a the credential will not return its investment.

 

[Salty]

I do occasionally do get calls for extremely challenging assignments - assuming its due to my listing on the AI site - that I just have no desire to deal with. The ones where I would rather have a root canal than have to even have to measure. The designation for me is not really only about making more money - it is also about supporting an organization that is advocating for me in a way I can see each day. I just have not seen that. Again, maybe I am misinformed and have blinders on. I work a a lot, but I don't make a ton of money and that's OK. Getting "involved" as a residential appraiser is not an option as it would take away from my income production and family time (which is probably lacking as it is). The few meetings I have been to, man I am out-of-place - its 100% commercial. The meetings are the only time I set foot in a country club outside of attending a wedding. Anyway, at over $1,000/year and considering what the AI leaders make compared to what I make they should be the ones being involved and putting the time in. I pay my share and expect something in return.

 

[Joe Flacco]

Appraisal Institute is for commercial appraisers. Residential members are just a source of revenue for this commercial focused organization.

I would like to see the residential members take up a vote to split from AI.