CT Chapter of Appraisal Institute president’s message - by Peter Vimini

It’s that time of year again, when the leaves begin to turn and a new season is upon us. The appraisal industry is also undergoing change, with technology advances, statutory and regulation changes, and of course the BPO battle. This year has been full of challenges for our board starting with the financial reform imposed upon us by national, the fight with Realtors on BPO legislation, a newly proposed governance structure policy by national, and providing new educational offerings and the pursuit for new members and offering more network opportunities for our members with Connecticut assessors, personal property appraisers and attorneys.

This past year the Connecticut Chapter fought the fight to preserve mandatory appraiser licensing which has been under attack by the Connecticut Association of Realtors (CAR) for many years. We succeeded in this battle over the past year and during our discussion with all parties we even attempted to broker a compromise with CAR and the Connecticut Mortgage Bankers to protect public trust however this fell on deaf ears with CAR. Our legislative committee worked tirelessly to assure the appraiser has a voice in Hartford.

Educationally, our chapter was one of the first to offer the Yellow Book Valuation course this past summer and we recently finished an offering on Condemnation appraising. These classes were offered as a collaborative effort with the Connecticut Department of Transportation and we have received great reviews. Currently we have put together a schedule of classes for the upcoming license renewal requirements along with some new classes being developed on issues such as CT Homes affected by Crumbling Foundations, Overview of American Architectural Styles, Navigate the New Smart MLS system and Residential and Commercial Cost Estimating and Case studies. Please check out our educational offerings at http://www.at-ct.org. 

Our Scholarship committee has worked on revisions to the three scholarships we offer to help our students defer the cost of classes in their pursuit of designation. 

On a national level, financial management and administration policy is in the beta testing stage and we anxiously wait to hear about changes to its implementation and a time table for such. Financial changes are on the horizon for all chapters of the Institute, and the Connecticut Chapter was one of the first to address the issue and start conversation on a regional and national level.

The proposed changes to governance/structure of the institute, is one of the most significant issues our leadership has been faced with and it copes with future challenges our industry will experience. 

I have enjoyed this past year as president, working with dedicated volunteers in our organization and our chapter executive director Jackie who leads our chapter with her wonderful charm and strong leadership abilities. I look forward to helping our new president and board next year and thank all of those who have worked hard this past year in making the Connecticut Chapter an outstanding organization.

Pete Vimini, MAI, is president, Connecticut Chapter of the Appraisal Institute, and principal at Vimini Associates, Bridgeport, Conn.