Regulator wins TAF CEO position

[Zoe]

Just because this is often repeated does not make it true. Parroting it here proves folks have no clue, but love to pretend.

Did you explain things are changing somewhat where BOT has to approve new appointments?

Please explain more. Why can't appraisers vote for a member as a whole to be a representative?

 

[Zoe]

Mr Gregoire knows NAR works by voting.

 

[Francois K. Gregoire]

Did you explain things are changing somewhat where BOT has to approve new appointments?

Please explain more. Why can't appraisers vote for a member as a whole to be a representative?

The Appraisal Foundation Bylaws were amended in December 2023. There are no direct appointments to the Board of Trustees. Appraisal Foundation Partners may nominate one or more individuals to the Board of Trustees if they will not have a nominee serving in the year the vacancy occurs. A Partner cannot have more than one nominee on the Board of Trustees at a time.

For instance, the American Society of Appraisers (ASA) has an individual on the Board of Trustees now, but the term expires at the end of 2024. The ASA may nominate one or more of their members. The nomination is evaluated by the Trustee Nominating Committee (scored without knowledge of the identify of the nominee, or the actual partner making the nomination). After scoring, a cut line is established and the top scoring nominees are invited to provide written answers to a series off questions. They are also invited to participate in a zoom interview. The written answers are scored without knowledge of the identify of the nominee or partner. Of course, the zoom interview is not anonymous. After the first three phases of the process, the top scoring nominees are invited to an in-person interview at the Board of Trustees meeting. The Trustee Nominating Committee then makes a recommendation to the Board of Trustees and the board votes. This year the meeting will be in Indianapolis May 16 - 18.

There are 9 - 10 Partner positions on the board and 9 - 11 Public Interest positions. The Public Interest positions include one each for The Appraisal Foundation Advisory Council (TAFAC), the Industry Advisory Council (IAC), and the Council to Advance Residential Equity (CARE). The Councils nominate one of their members to the board and the procedure described above is followed. The other Public Interest positions are open to anyone with an interest in valuation. That includes individuals that may be members of Partner organizations. Interested individuals submit an application. The applications are evaluated using the same process as used for nominations. The Trustee Nominating Committee recommends individuals for the vacant positions, and the board votes.

The bylaws of The Appraisal Foundation do not provide for a direct election of an individual by appraisers.

 

[Zoe]

The Appraisal Foundation Bylaws were amended in December 2023. There are no direct appointments to the Board of Trustees. Appraisal Foundation Partners may nominate one or more individuals to the Board of Trustees if they will not have a nominee serving in the year the vacancy occurs. A Partner cannot have more than one nominee on the Board of Trustees at a time.

For instance, the American Society of Appraisers (ASA) has an individual on the Board of Trustees now, but the term expires at the end of 2024. The ASA may nominate one or more of their members. The nomination is evaluated by the Trustee Nominating Committee (scored without knowledge of the identify of the nominee, or the actual partner making the nomination). After scoring, a cut line is established and the top scoring nominees are invited to provide written answers to a series off questions. They are also invited to participate in a zoom interview. The written answers are scored without knowledge of the identify of the nominee or partner. Of course, the zoom interview is not anonymous. After the first three phases of the process, the top scoring nominees are invited to an in-person interview at the Board of Trustees meeting. The Trustee Nominating Committee then makes a recommendation to the Board of Trustees and the board votes. This year the meeting will be in Indianapolis May 16 - 18.

There are 9 - 10 Partner positions on the board and 9 - 11 Public Interest positions. The Public Interest positions include one each for The Appraisal Foundation Advisory Council (TAFAC), the Industry Advisory Council (IAC), and the Council to Advance Residential Equity (CARE). The Councils nominate one of their members to the board and the procedure described above is followed. The other Public Interest positions are open to anyone with an interest in valuation. That includes individuals that may be members of Partner organizations. Interested individuals submit an application. The applications are evaluated using the same process as used for nominations. The Trustee Nominating Committee recommends individuals for the vacant positions, and the board votes.

The bylaws of The Appraisal Foundation do not provide for a direct election of an individual by appraisers.

Quote: "The bylaws of the Appraisal Foundation do not provide for a direct election of an individual by appraisers"

Do you see how that is different from how NAR works?

Individual members of NAR vote. Why does TAF bylaws not have a provision where the whole group of individual licensed appraisers can vote for a representative?

 

[Zoe]

It does have a little odor to it. I can smell certain odors.

 

[Francois K. Gregoire]

Quote: "The bylaws of the Appraisal Foundation do not provide for a direct election of an individual by appraisers"

Do you see how that is different from how NAR works?

Individual members of NAR vote. Why does TAF bylaws not have a provision where the whole group of individual licensed appraisers can vote for a representative?

There are a few reasons. First, take a look at Article IV: Membership in the bylaws:

The Foundation shall have no members, nor shall any Sponsor or Partner of the Foundation, as hereafter provided in Articles V and VI, have any voting or other right customarily associated with membership in a not-for-profit corporation. Sponsors and Partners may meet in conjunction with meetings of the Board of Trustees at which time a report of the activities of the Foundation shall be made to them. In turn, the Sponsors and Partners shall provide the Board of Trustees with a report of their respective activities at the meeting of the Board.

NAR has members. The officers of NAR are not elected by a vote of NAR members. Officers of NAR are elected by the NAR Board of Directors. NAR directors are selected/elected by a process that is complicated. Most, however, are elected by the state association board of directors, not state or local association members. Some are appointed by local associations. Some appointed by large firms, but it is unusual for NAR Directors to be elected by local association members. Not saying it does not happen, but it is unusual.

In addition, The Appraisal Foundation Partners represent many appraisal disciplines. Of them, only Real Property Appraisers are licensed/certified. There is no national requirement for business or personal property appraisers to be licensed/certified. Under the current Foundation bylaws and policies, the intent is for all disciplines to be represented. That is the case right now, although of the 21 members on the Board of Trustees (not including the president), 12 are real property appraisers.

Real Property Appraisers are strongly represented on the Board of Trustees. How would a direct election improve things?

 

[Zoe]

There are a few reasons. First, take a look at Article IV: Membership in the bylaws:

The Foundation shall have no members, nor shall any Sponsor or Partner of the Foundation, as hereafter provided in Articles V and VI, have any voting or other right customarily associated with membership in a not-for-profit corporation. Sponsors and Partners may meet in conjunction with meetings of the Board of Trustees at which time a report of the activities of the Foundation shall be made to them. In turn, the Sponsors and Partners shall provide the Board of Trustees with a report of their respective activities at the meeting of the Board.

NAR has members. The officers of NAR are not elected by a vote of NAR members. Officers of NAR are elected by the NAR Board of Directors. NAR directors are selected/elected by a process that is complicated. Most, however, are elected by the state association board of directors, not state or local association members. Some are appointed by local associations. Some appointed by large firms, but it is unusual for NAR Directors to be elected by local association members. Not saying it does not happen, but it is unusual.

In addition, The Appraisal Foundation Partners represent many appraisal disciplines. Of them, only Real Property Appraisers are licensed/certified. There is no national requirement for business or personal property appraisers to be licensed/certified. Under the current Foundation bylaws and policies, the intent is for all disciplines to be represented. That is the case right now, although of the 21 members on the Board of Trustees (not including the president), 12 are real property appraisers.

Real Property Appraisers are strongly represented on the Board of Trustees. How would a direct election improve things?

I think we have been down this road before. Suppose some of the appraisers on BOT have different opinions than the general population of licensed appraisers?

 

[Zoe]

Forgot to mention TAF maybe having different opinions also than general population of ALL licensed appraisers.

 

[Zoe]

For reference on "all":

Definition of ALL

the whole amount, quantity, or extent of; as much as possible; every member or individual component of… See the full definition

www.merriam-webster.com

 

[Zoe]

Easter just passed. Jesus gave it "all".

It is not right Mr Gregoire.