President’s message: Continue to provide services - by George Demopulos

August 14, 2020 - Appraisal & Consulting
George Demopulos
LASS

The Massachusetts and Rhode Island Chapter of the Appraisal Institute is hoping all of our friends and clients are continuing to stay safe during the COVID-19 Pandemic. Appraisers, just like all of our customers, clients and friends in the real-estate and mortgage professions have been affected by the COVID-19 pandemic and we are doing all we can to continue to provide appraisal services during this unprecedented time. We are hoping everyone is enjoying the wonderful summer months!

We are proud to announce the Appraisal Institute (AI) national board of directors have selected Craig Steinley, MAI, SRA, AI-GRS, AI-RRS of Rapid City, SD as the 2021 AI vice-president. The MA/RI Chapter congratulates Steinley and all the nominees for their willingness to serve and dedication to our organization. 

The AI continues to host a weekly AI Answers session on Wednesdays. These sessions are conducted via GoToMeeting. I encourage all appraisers to check out the recordings of these sessions and to attend these weekly webinars. The most recent, “The post-pandemic future - How is COVID-19 impacting commercial real estate development?” “What will the post-pandemic office and retail project look like? Will new design principles become the norm for next generation construction and renovation?” - features insights and perspectives from the developer, leasing agents and architect for the first office building in the United States designed for the post-COVID-19 environment. 

Opening this summer, Fulton East – located at 215 N. Peoria St. in Chicago’s Fulton River District - applies biophilic design principles and health-focused solutions for businesses and prospective tenants.  Unique design-build and valuation perspectives from the developer, Bob Wislow, chairman of Parkside-Realty Inc.; co-leasing agents, Camille Julmy and Katie Scott; and architect, Lamar Johnson with Lamar Johnson Collaborative. Please visit www.appraisalinstitute.org to view these past webinars to attend the upcoming weekly events. 

The MA/RI Chapter will hold its next virtual board meeting on Thursday, September 10th. All members are welcome to attend. Please visit our website for more details as we get closing to the date.

The national organization is urging Congress to pass the Portal for Appraisal Licensing Act of 2020 in the 116th Congress, which would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a portal for appraisal credentialing and AMC registration information, and for other purposes. “Appraisers need help reducing their administrative burdens and servicing clients, particularly in a socially distant workplace where clients may be located in other states,” said Appraisal Institute president Jefferson Sherman, MAI, AI-GRS. The Appraisal Institute told Reps. David Kustoff (R-Tenn.) and Ed Perlmutter (D-Colo.) that “The organization applauds your effort to modernize the real estate appraisal licensing system by reducing administrative costs and eliminating red tape by authorizing the establishment of a Portal for Appraisal Licensure.” The letter said: “Appraisers often work in many states and are faced with increasing regulatory obligations, including state-by-state background checks and keeping track of continuing education requirements.” The Appraisal Institute also noted in its letter that “the Portal for Appraisal Licensing Act of 2020  addresses all of these concerns by authorizing the Appraisal Subcommittee – a federal agency – to work with state appraiser regulatory agencies to establish a portal to provide appraisers one-stop shopping capabilities in applying for and renewing appraiser licenses and certifications. Enactment of the Portal for Appraisal Licensing Act of 2020 will dramatically improve the business and regulatory environment for appraisers and help attract and retain qualified practitioners to the appraisal profession.”

The MA/RI Chapter continues to offer the best appraisal education in the area! We have been offering on-line education during the Covid-19 Pandemic and are pleased to announce we will be holding classroom education in August! 

The following classes are being offered:

• General Appraiser Income Approach Part 2, Wednesday, August 19th in Woburn, MA;

• Business Practices and Ethics, Wednesday, September 9th in Woburn, MA;

• Basic Appraisal Principles, Friday, September 11th in Norwood, MA; and

• General Appraiser Sales Comparison Approach, Wednesday, September 23-26 in Woburn, MA.

We would like to thank our 2020 sponsors! A very special THANK YOU to our Platinum Sponsors; Boston Appraisal Company, CB Richard Ellis/New England and Newmark Knight Frank, our Gold Sponsor, JLL Valuation Advisory and Compstak and our Silver Sponsor Cushman & Wakefield. For sponsorship opportunities please reach out to our office.

 Our chapter is made of the very best commercial and residential appraisers providing real estate solutions for clients throughout New England and beyond. Our chapter designated professionals specialize in all aspects of real estate appraisal and consulting and are ready to provide these services to all of our clients, current and future. A complete list of our members and their appraisal concentrations can also be found on our website, http://massri-appraisalinstitute.org/

George Demopulos, MRICS, RA, SRA, AI-RRS is the 2020 president of the Massachusetts and Rhode Island Chapter of the Appraisal Institute and president and chief valuations officer at Lincoln Appraisal & Settlement Services (LASS) and Lincoln Abstract & Settlement Services, Providence, RI.

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