In July of this year, I attended the regional and annual meetings of the Appraisal Institute (AI) in Indianapolis. This was my third such meeting representing the New Hampshire Chapter with the prior two meetings having been held in Las Vegas and San Diego. There was some interesting information disseminated.
AI has turned things around over the past few years as it has operated in the black for the past several years. Membership is up to 23,109 members which is effectively the same as it was at a peak point in 2007. This can be compared to the national total of all appraisers which is down from a high of 100,000 in 2007 to 82,000 in 2013. AI's market share is up to 27% of all appraisers. AI has moved forward with the Candidate for Designation (C4D) program which has 4,800 candidates enrolled, 2,000 more than AI's forecasted goal of 2,800. AI will be offering a new review appraisal designation starting in 2014. This much needed program will increase the competency levels of many review appraisers and inevitably bring more appraisers into the organization.
With so many candidates in the C4D program, the AI is working to offer more courses. The much needed Capstone Course is full for 2013 but there will be 9 locations in 2014 with the closest being in Newark, N.J. The AI recognizes the fact that the residential member segment (30% of AI) of the organization could use additional support and attention. They have formed several work groups to study ways to improve the numbers and advance this segment of the membership. With membership increasing in the C4D program and internationally along with the anticipated increases from the review designation program, it is expected that the total membership numbers and overall health of the AI will continue to improve.
The AI terminated their sponsorship of the Appraisal Foundation (AF) when it was apparent that the AF was growing into areas that went beyond principals and procedures. The AF was charged with overseeing the principals and procedures for appraisals. They have morphed into an organization that oversees education and now offers education. The leadership of AI appears to be very happy with their decision to terminate their sponsorship with the AF. They continue to monitor the AF by attending their public meetings.
Locally, the New Hampshire Chapter will be offering two one-day classes early in December. The UAD Aftereffects: Efficiency vs. Obligations class will be offered on December 5th and the National USPAP Update for 2014-2015 class will be offered on December 6th. Both classes will be held at the Red Blazer Restaurant located on 72 Manchester St. in Concord. Anyone interested in attending these classes can sign up through the chapter website (www.ai-nh.com).
The New Hampshire Chapter also offers two-hour seminars that provide continuing education hours five times each year. Our recent seminars include Review Appraiser Roundtable, The Appraiser as an Expert Witness and Commercial Real Estate Roundtable. Our next seminar offering "Appraising Special Properties" will be on November 19th at the Ichiban Japanese Steakhouse Restaurant located on 118 Manchester St. in Concord. Our seminar and chapter meetings are open to anyone interested in attending. We do offer a free first seminar to anyone interested in entering the appraisal profession or our organization. Our executive secretary, Cindy Rogers can be reached at [email protected] for more information.
Brian White, MAI, SRA, is president of the New Hampshire Chapter of the Appraisal Institute, Concord, N.H.