Who Is Really In Control Of the Appraisal Institute.

[RCA]

I am going to venture a guess: Bill Garber, long time lobbyist for the Appraisal Instute, with the Appraisal Institute since 2000, past Director of Government Affairs, past Directory of Government and External Relations and current Director of Communications and Marketing.

Why do I say this? Well I have taken an interest in Substack publications and noticed that Bill Garber has https://bgarber.substack.com called "Valuation Insider"

Valuation Insider | Substack

Valuation Insider covers the latest policy issues impacting real estate valuation professionals and users of real estate appraisal and valuation services. Learn from nearly a quarter century of experience in real estate and valuation advocacy and policy. Click to read Valuation Insider, a...

bgarber.substack.com

But you won't be able to read the articles. They are to be read only by "Paid Subscribers." You might have guessed, there is no way to become a paid subscriber. I asked ChatGPT about this and it said publishers are permitted to allow only paid subscribers to read their posts or articles - and also not allow just anyone to become paid subscribers. It's probably invitation only.

That's all kosher I guess, since he is a lobbyist and all. But, indeed, there is an "inner circle" at the AI, that we can be sure extends outwards from the inner circle to various influential people outside of appraisal. No one can deny that.

In the meantime anybody who wants can create their own Private "SubStack". It's free to use. For what it is worth.

 

[RCA]

Claude: "Based on my search results, here's what I found about Bill Garber and his role with the Appraisal Institute:

Professional Role: Bill Garber is the Director of Government and External Relations for the Appraisal Institute, where he serves as head of the AI Washington operations. As director, he represents the interests of AI members before Congress, federal agencies, and outreach to aligned real estate organizations. WILLIAM E. GARBER, JR. - Collateral Risk Network

Background and Experience:

• He has been described as the Appraisal Institute's lobbyist for years Bill Garber - Director of Communications and Marketing - Appraisal Institute | LinkedIn
• Bill has 20 years of association lobbying and management experience in the real estate and economic development professions WILLIAM E. GARBER, JR. - Collateral Risk Network
• William Edward Garber (Bill) has been registered as a lobbyist or foreign agent Bill Garber - Appraisal Institute - Biography | LegiStorm

Areas of Expertise: Bill has expertise in a range of real estate issues, including residential and commercial valuation and finance, economic development and land use, conservation and historic preservation issues, valuation for financial reporting, securitization, and real estate asset management. WILLIAM E. GARBER, JR. - Collateral Risk Network

Current Responsibilities:

• He serves as the liaison to the Appraisal Institute's Government Relations Committee and Client Advisory Board, and as Treasurer of the Appraisal Institute Political Action Committee WILLIAM E. GARBER, JR. - Collateral Risk Network
• Bill is a frequent speaker before government agencies and industry organizations WILLIAM E. GARBER, JR. - Collateral Risk Network

Recent Activities:

• Among his contributions, one that stands out prominently is his role in securing a $3M funding from a major lender. This initiative aimed at advancing diversity within the appraisal space Bill Garber - Director of Communications and Marketing - Appraisal Institute | LinkedIn
• The LinkedIn profile indicates he has taken on a VP role with Grant Professionals Association-Chicago Area Chapter
• There are references to him being involved in communications during recent organizational challenges at the Appraisal Institute

Education:

• He has a B.S. degree from Oregon State University, and is currently seeking a Master's Degree in Public Administration from Walden University"

 

[RCA]

Question: "Was the $3M funding for the Appraisal Institute?"

No, the $3M funding was not for the Appraisal Institute directly. The funding was for the Appraiser Diversity Initiative (ADI), which is a collaborative program but separate from the Appraisal Institute itself.


Here are the key details:


What the $3M was for: JPMorgan Chase recently donated $3 million to the Appraiser Diversity Initiative WILLIAM E. GARBER, JR. - Collateral Risk Network, not to the Appraisal Institute as an organization. Chase's commitment to the Appraiser Diversity Initiative will devote $1 million per year, for three years, to support trainee education packages. This commitment is expected to help approximately 700 students with costs that include textbooks, calculators and purchase of any additional courses required. Appraisal Institute Commercial Real Estate Workouts


Who runs ADI: The initiative is a collaboration between the Appraisal Institute, Freddie Mac, and the National Urban League, with Fannie Mae helping to build appraisal career path awareness. LegiStormNareit Scholarships are administered and partially funded by the Appraisal Institute with additional funding from industry donors.


Bill Garber's role:The LinkedIn recommendation mentioned in the first search indicated that Bill Garber played a key role in securing this funding, working "alongside teams from various organizations to build a coalition focused on a shared goal" Bill Garber - Director of Communications and Marketing - Appraisal Institute | LinkedIn for this diversity initiative.


So while the Appraisal Institute is involved in administering ADI and Bill Garber helped secure the funding, the $3M went specifically to the diversity initiative program rather than to the Appraisal Institute's general operations.

 

[RCA]

But indirectly, it appears the $3M did go to the Appraisal Institute.

Money speaks ....

 

[DWiley]

Claude: "Based on my search results, here's what I found about Bill Garber and his role with the Appraisal Institute:

Professional Role: Bill Garber is the Director of Government and External Relations for the Appraisal Institute, where he serves as head of the AI Washington operations. As director, he represents the interests of AI members before Congress, federal agencies, and outreach to aligned real estate organizations. WILLIAM E. GARBER, JR. - Collateral Risk Network

...

One of the basic tests I use on GenAI results - If the very first thing it says is wrong, then I don't pay much attention to the rest.

 

[RCA]

Depending on your philosophy, on your point of view, you might actually consider this corruption. A certain kind of corruption. A certain kind of degeneracy.

 

[RCA]

One of the basic tests I use on GenAI results - If the very first thing it says is wrong, then I don't pay much attention to the rest.

No doubt, Claude picked that up from LinkedIn. He WAS the Director of Government and External Relations for 16 years up until last year.

SO WHAT IMPORT DOES YOUR OBJECTION HAVE? It is just nitpicking. You are biased of course. Freddie Mac is in total collusion with the $3M program. How is YOUR ADI going?

 

[RCA]

Based on my research, here are the specific donation amounts I've found for the Appraiser Diversity Initiative sponsors:

Confirmed Financial Donations:​

JPMorgan Chase: $3 million commitment over three years ($1 million per year) to support approximately 700 students with education costs including textbooks, calculators, and required courses HousingWireThe Infatuation

Flagstar Bank: $1 million donation to support recruitment, training, and credentialing of diverse appraiser trainees, sponsor recruiting workshops, and provide pathways to appraiser licensing Appraisal InstituteJPMorgan Chase

The Appraisal Foundation: $1.22 million over three years to fund the "Pathways to Success Scholarship" which covers 100% of enrollment costs for AQB-approved PAREA programs Appraiser Diversity Initiative

Founding Partners (Amounts Not Disclosed):​

Fannie Mae, Freddie Mac, The Appraisal Institute, and National Urban League: These organizations are founding partners since 2018, but specific dollar amounts for their contributions are not publicly disclosed. The sources indicate that scholarships are "administered and partially funded by the Appraisal Institute with additional funding from industry donors," Appraisal InstituteHousingWire but exact amounts are not specified.

Other Sponsors (In-Kind and Smaller Contributions):​

Solidifi: Serves as both an Advisor Sponsor and In-Kind Sponsor providing scholarships and mentoring, but no specific dollar amount disclosed Appraiser Growth & Diversity

RSDS Appraisal Diversity and Department of Veterans Affairs: Sponsor workshops and military recruitment initiatives, but amounts not disclosed RSDS ADI Collaborate to Recruit Military Service Members - RSDS Appraisal Diversity

Total Publicly Disclosed Donations:​

• Chase: $3 million
• Flagstar Bank: $1 million
• The Appraisal Foundation: $1.22 million
• Total confirmed: $5.22 million

The founding partners (Fannie Mae, Freddie Mac, Appraisal Institute, National Urban League) likely contribute significant amounts as well, but these figures are not publicly disclosed in the available information.

 

[RCA]

So, yes, taxpayer and Appraisal Institute money goes to teaching minorities, including veterans, an archaic appraisal technology that has nearly reached "end of life."

 

[DWiley]

Depending on your philosophy, on your point of view, you might actually consider this corruption. A certain kind of corruption. A certain kind of degeneracy.

I am confused? Are you saying the errors by the GenAI are intentionally incorrect and inherently corrupt?

The ADI money is used for the scholarships that ADI grants. I don't think that is a big secret. and, as your post notes, the money was donated by a large lender.

As for my main point - I find it amusing that some have become enthralled with posting GenAI results without any level of confirmation of significant errors or omissions.