“Keep calm and carry on” “Live long and prosper” - by Steven Elliott

Steven Elliott, Elliott Gottschalk & Associates

All is well, Red Sox in first place, Celtics readying for the draft and Brady once again will go forth to do battle with the evil empire. Days are getting to their longest point of the year and we just started “unofficial” summer. Interest rates are still low and despite rumblings from the Fed, should probably stay that way until at least after the election. It is my observation over these past 40+ years that they do not wish to be perceived as a political animal and would not want to appear to be helping or hurting either side through rate manipulation.

So, what’s new. A couple of things of note. The AQB has just put out an exposure draft that has received a fair amount of attention. In response to a number of concerns and quite frankly, complaints, they are looking to possibly back off the more stringent educational requirements for licensing and certification. They are also looking into a vehicle that could help individuals acquire experience credits in a practicum manner, which could be very helpful. The amount of experience is also being considered. Don’t need to bore you with all of the details but if interested go to The Appraisal Foundation’s website, http://www.appraisalfoundation.org/ and go to exposure drafts and then AQB and you will find it. It is very interesting to see them taking another look at qualifications, and, they are always seeking meaningful and logical comments from the public and especially appraisal professionals.

Second item and one that I am very happy to report. It appears as though The Appraisal Foundation and the Appraisal Institute are attempting to thaw their once very frosty relationship. I think this is terrific news and I applaud the folks at the senior levels of both organizations for beginning to communicate in a thoughtful and hopefully open manner. There still is a lot of common ground between the two and even though there was a less than amicable split several years ago, it appears the time may be ripe for a meeting of the minds. I would encourage any AI members or any other members of any professional appraisal organizations to send their support and encouragement to either or both organizations. They are two of the appraisal professions most important organizations and any attempts to repair the rift and reestablish their once strong relationship should be heartily encouraged, promoted and supported.

Finally, just last week I was instructing the 7 hour USPAP Update. There were 20 folks in attendance and by my rough count, as people indicated when they started, more than 600 years of appraisal experience in the room. Certainly a very impressive group, with two individuals approaching 50 years in the business. As we went around the room, introducing one another, one of my questions was “How’s business?” Much to my surprise and glee, there were several individuals who were “straight out” and, several of these folks were looking for help. Additionally, when I queried them about fees, most were comfortable with what they were being paid. I think that points to a number of good things for all of us. As long as we are producing credible, competent and ethical reports, we will continue to thrive. Sure we’ll have peaks and valleys but that’s what keeps things exciting and causes us to dig a bit deeper and work all the harder to maintain the quality of our work and improve the public’s perception of our profession.

And so as the British said during World War II, “Keep calm and carry on” and if I may add, as our now deceased friend Mr. Spock would say, “Live long and prosper.”

Steven Elliott, SRA, MRA, is principal at Elliott Gottschalk & Associates, Ashland, Mass.