Appraisal Institute Controversy

[chad hampton]

Think about how many names we all would recognize that get passed around every few years. Work at an AMC, then get passed around to a regulatory agency or some other three letter organization, then maybe go work at the GSE‘s for a couple years, then back to an AMC and so forth and so on. hell, some even had stints as directors on appraisal boards. I knew this was an issue 15 years ago when I started finally paying attention to what was going on in this profession.

Most of them are just referred to on this board as snake oil salesman.

 

[Zoe]

No telling how many private messages and conversations Ms. Chance had with independent residential fee appraisers.

Many MAI's are not happy either. She was in perfect position to get an ear full.

 

[Gobears81]

Something that I've found true is that BoD's neutrality is diminished when you have appraisers working for an array of interests, which parallels Cindy's comment. I don't have a great solution to that, as we still want appraisers to represent the BoD and can't say that appraisers working with AMCs would be eliminated from contention (though many would disagree ). I don't have know if there are any appraisers working for AMC's on the BoD, but this could run deeper, given the politics that have become ingrained into TAF, and Cindy's past comments defending appraisers from racial bias. Very few positions that take guff like appraisers do, and instead of defending others in the profession, many appraisers are also quick to tear down their industry counterparts. We don't have enough advocates for the industry. A renegade that fights for fee appraisers is the perfect person to be AI's CEO, but the other powers that be (AMCs, TAF, etc.) will undoubtedly jockey to have a puppet running the show and they seemingly have the strength to do so.

 

[The Bob]

I don't think it's inappropriate to read between the lines but by the time people are making decisions like dropping their membership based on speculation instead of simply waiting for the facts to come out then that might be a little reactive.

Given what's occurred, what "facts" need to come out?

 

[Zoe]

Given what's occurred, what "facts" need to come out?

Your too funny. You mean what conflicts of interests?

I can start a list.

1.
2.
3.
4.
5.
6.
7.
8.
9.
10................

 

[djd09]

Appraisal Institute Announces Key Elements of First Quarter Board Meetings​

---

News provided by

Appraisal Institute
Feb 23, 2024, 18:00 ET

Share this article​

• 
  
  
  
  
  
  
  
  
  

---

CHICAGO, Feb. 23, 2024 /PRNewswire/ -- The Appraisal Institute, the leading association of real estate appraisers, released the highlights of its First Quarter Board Meetings, February 22-23, 2024. Chief Executive Cindy Chance, PhD, updated the Board on organizational change and progress since the last special meeting in mid-December, at which the Board approved funding to support the next phase of her reorganization plan. President Sandy Adomatis, SRA, chaired the meeting at which the Board deliberated on a number of topics with the goal of serving its mission and members' interests.

CEO Report: Reorganization continues to advance the drivers of value for members

• Operational adjustments successfully completed following the 15% reduction in staff announced in early January. Cost savings on track to close a potential $1.2 million 2024 operating budget deficit
• Key staff hires have been concluded with others well-advanced. New hires' priorities are to lead goal-oriented teams and instill best practice in critical business areas including Education & Publications and Customer Service
• Business reporting underway, including initial identification of goals and performance metrics by unit, focused on organization wide KPIs
• Finalizing selection and planning for critical technology investments to improve neglected technology infrastructure, including on-line education platforms and learning management software, customer service systems and accounting and expense management systems
• Implementing first steps in education overhaul plan, built around investment in network wide distribution of QE and DE and creation of improved, quick to market on-demand CE. Re-aligning Publication content to focus on member interests and thought leadership
• Ongoing overhaul of communications and advocacy, focusing on appraiser-centric communications, including:
  • Relaunch of email and social media marketing vehicles and approaches including the all-new "Appraisal Now" weekly newsletter
  • Review and planning to establish new marketing partnerships and sponsorship opportunities
  • Continued step-by step remediation of the website to improve user experience, enhance accessibility of information, improve brand identity and inculcate appraiser-centric messaging
  • Began member-wide sharing of expert third-party government affairs updates, advanced planning to promote inclusive legislative engagement and awareness across Chapters
  • Continued improvements in transparency and significant steps towards best practice communications, including commencing Quarterly Reporting, online Regional Joint Meeting presentation and member Q&A (400+ participants), post First Quarter Board meeting highlights release followed by open on-line Q& A, commitment to public announcements of significant events and developments, enhanced President's Message format including video
• Planning underway for Membership improvements including campaign focused on the value of Appraisal Institute designations, growing membership, and offering thought leadership webinars
  • Efforts underway to identify and provide needed Chapter resources and support such as hosted websites, domain email addresses and access to local member course registrations
  • Aligning the Appraiser Diversity Initiative, PAREA, and University Relations into a "pathway into the profession" team, committing to clear reporting on progress and challenges in attracting the next generation of diverse professionals

Board decisions included:

• Decision to send possible changes to the Bylaws, permitting all AI professionals to be referred to as members, out for customary 45-day notice and comment period
• Decision to send a possible change to the Body of Knowledge, regarding mention of a second definition of fee simple, out of all members for a 90-day comment period
• Decision to send a possible change to continuing education requirements to add a valuation bias and fair housing course requirement, out for customary 45-day notice and comment period

 

[chad hampton]

Takes a few days to spin things. Sometimes it takes a little longer than a day to come up with a bull**** reason.

 

[djd09]

AI, TAF, REVAA, CRN, ASC, AARO, GSE, CFPB, FTC, all have something in common....they hate the independent appraiser

 

[George Hatch]

The more I think about it, the more I think we should put appraisal UNDER ACCOUNTING, and let the CPA's run TAF, the AI and other organizations. Now, YES, not all CPAs can be considered to be 100% ethical - you just need to bring up the old firm of Arthur Andersen: https://www.wcu.edu/gpae/Vol3/Enron and Aurhur Andersen.pdf. But, by and large they are. The know how to create good and tight standards and abide by them.

Some MAIs, I believe, are ethical --- but those guys never seem to make it into leadership positions. It's the crooked MAIs that run everything. They are a breed of their own. By nature crooks, in the sense that they can live with the double talk, - because that is the way the appraisal industry is currently designed with sloppy standards that allow obfuscation, saying one thing and doing another and making a mess out of things.

Get rid of the MAIs from leadership, let the CPAs run things - and give them the task to bring USPAP totally under GAAP. That would be such a better world.

The structure of TAF was modeled after the FASB.

 

[djd09]

TRAINING / CONTINUING EDUCATION OPPORTUNITIES​

REVAA member companies support the development of highly skilled appraisers. Here are a few training and continuing education resources:

• The Appraisal Foundation
  

  ---

• The Appraisal Institute
  

  ---

• State Appraisal Boards (click for links to each state regulator)

VALUATION RESOURCES - REVAA

Join a REVAA Member Panel Interested in working with REVAA member companies? There is no requirement to join REVAA – simply follow the instructions provided by the REVAA member company whose appraiser or real estate broker panel you seek to join. Below are links to each REVAA member.

revaa.org

the cheap and fast want high quality...anyways, birds of feather