Appraisal Institute Controversy

[Elliott]

On a Friday the 13th, always a good time to re-watch "Bad Day at Black Rock" starring Spencer Tracy. It is too bad Cindy couldn't finish the job.

 

[chad hampton]

AI should revoke the designations of any member currently working high up at an AMC then they could sell themselves as an appraiser advocacy organization.

 

[chad hampton]

What do you think the over/under is on how much REVAA paid the AI board to have Cindy removed? $200k-$300k?

They would’ve picked up at least 3 to 5000 new members going for their SRA if they would’ve let Cindy continue to lead the organization down the road she was. That’s a lot more than that in classes and dues. Like I said, there is very little leadership at the top of any of these organizations. really small minded thinking.

 

[Sadie]

And they just canceled today’s board meeting. What a mess.

I don't think they expected the fallout to be quite as big and loud.

 

[chad hampton]

I don't think they expected the fallout to be quite as big and loud.

I think you’re right, but it also shows how completely tone deaf they are with regards to real working appraisers.

 

[George Hatch]

I think there are a couple things the AI could do to improve the marketability of their designations in the market. Starting with being a lot more aggressive with enforcing their standards. Cut their (not-that-many) donkeys off with no mercy. Clean their reputation up so that users really can assume that the designation is a reliable marker for superior performance instead of just being the marker for increased qualifications. That it's always WORTH paying the designated appraiser more. Sure, many many clients and users already believe that but there's room for improvement in the institutional reputation.


Another thing the AI can do is to always maintain a much higher level of qualifications criteria for a designation than the minimums in the licensing programs. If it takes 300 hours for a CG then the MAI designation should start at 600 hours. Etc., etc. Now that they have a PAREA program they could add that to their QE criteria for their SRA, in addition to the IRL experience hours criteria.

 

[Semi Pro]

And they just canceled today’s board meeting. What a mess.

It wasn't a Board Meeting, it was the Annual Meeting of the members. Not sure cancelling it or rescheduling for 17 days later isn't a violation of the Bylaws.

 

[Non Sequitur]

It wasn't a Board Meeting, it was the Annual Meeting of the members. Not sure cancelling it or rescheduling for 17 days later isn't a violation of the Bylaws.

Thanks for pointing that out but we’re both wrong. They cancelled the “Annual AI Membership Meeting & Q3 Board Meeting Report Out and Q&A”. Wouldn’t want to be accused of spreading false rumors.

 

[Semi Pro]

Thanks for pointing that out but we’re both wrong. They cancelled the “Annual AI Membership Meeting & Q3 Board Meeting Report Out and Q&A”. Wouldn’t want to be accused of spreading false rumors.

Haha of course.

And the Q3 Board Meeting Report Out and Q&A was also rescheduled from a few weeks ago to be at the same time as the Annual AI Membership Meeting... also without 45 day notice.

 

[Non Sequitur]

Haha of course.

And the Q3 Board Meeting Report Out and Q&A was also rescheduled from a few weeks ago to be at the same time as the Annual AI Membership Meeting... also without 45 day notice.

We don't need no stinking 45 day notice!

Anyway, we'll see what happens in the next couple of months. More than a few are threatening to drop their designations, and one guy on LinkedIn has publicly resigned from his leadership position at the state level. And an interesting idea has been floated: A former SRA has proposed that all former designated members start using their designations again and those who want to drop membership continue to identify as SRAs. The idea is the AI doesn't have the money or guts to go after anyone for not paying rent, and if they do that will be the beginning of the end. Pretty good idea if you ask me.