Well another summer went by too fast, but thanks to dedicated staff and volunteers at both the national and local chapter level the Appraisal Institute is off and running into the fall season. AI National set the stage when the board of directors adopted a strategic plan at their August meeting. The plan integrated input from AI professionals surveyed from around the country, and includes the following, updated Mission Statement: Our mission is to empower valuation professionals through community, credentialing, education, body of knowledge and ethical standards. Although this mission statement may be self-evident, the AI National continues to lead the industry by holding ourselves accountable, both within the organization and publicly. This is further evidenced by the core values outlined in the strategic plan, where the Appraisal Institute is:
• Dedicated to excellence, professionalism, ethics, and integrity.
• Committed to leadership and innovation.
• Devoted to an inclusive and welcoming community.
Further, in order to the continue to strive to support our mission, and live up to the core values put forth in the strategic plan, four goals have been set within the context of the communities in which we operate, and the users we serve. These goals include:
• The Appraisal Institute will protect and improve the value of affiliation.
• The Appraisal Institute will provide leadership toward a unified and inclusive profession with diverse perspectives.
• Appraisal Institute professionals will be consistently sought out by users of valuation services.
• The Appraisal Institute will improve the diversity of its affiliated professionals.
The implementation of the AI’s strategic plan will be evolving over the coming months, so please stay tuned to this space for announcements of upcoming initiatives.
Additional news from last month’s National Meeting, is the board of directors election of Sandra Adomatis, SRA as the 2022 Appraisal Institute’s vice president. Adomatis’ one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president. She will serve on AI’s executive committee and the policy-making board of directors all four years. She also will chair the finance committee in 2022 and the national nominating committee in 2025.
Finally, as the Appraisal Institute continues to work with Fannie Mae and the National Urban League on the Appraiser Diversity Initiative (ADI), we are excited to announce that Freddie Mac has joined the initiative as a core partner, and JPMorgan Chase has made a $3 million commitment to the program. Freddie Mac will provide additional resources and advising support, while the JPMorgan contribution will provide $1 million per year for three years to support trainee education packages, that are anticipated to assist approximately 700 students with textbooks, calculators, and other course materials. “One of the Appraisal Institute’s top priorities is to encourage recent graduates to consider a career in the valuation profession with a particular focus on diversifying our ranks,” said Appraisal Institute president Rodman Schley, MAI, SRA. “The Appraisal Institute is truly grateful to Chase for making such a major commitment to helping the next generation of appraisers.” More information can be found online.
On the local/regional level the MA-RI-ME Chapter has scheduled (see below) a packed line-up of in-person and virtual programing that offers our membership, and other valuation professionals, a variety of continuing and qualifying educational opportunities, at an affordable price, throughout the fall. Our chapter education, programs, and candidates guidance teams continue their work to make these offerings available. Our line-up includes:
• Fall Chapter Meeting & Virtual Appraiser Services Showcase (Sept. 14th – 8 to 10:30 a.m.) – This two hour, live virtual CE program will introduce students to products that can assist them in developing the highest quality appraisal services. The Showcase will demonstrate template options available to deliver USPAP compliant reports, and introduce them to data services available to provide support for their market assumption and conclusions. Attendees will learn how to efficiently access the best comparable sale and lease data, demographics, technology platforms to create superior quality report back-up, and discounted cash flow models. Presentations will be provided by representatives from Compstak, Lightbox and VALCRE. More vendors may be added. This is a FREE 2-hour CE event and space is limited.
• Maine Real Estate Market & Economic Update 2021 (Sept. 24th – 2:30 to 6 p.m.) – This in-person program will be held at the Portland Harbor Hotel. The program panelists will discuss the current state of the Maine economy as well as provide Maine residential and commercial real estate market updates, and Q4 forecasts. A networking cocktail reception will follow the program. The panelists currently include: Amanda Rector, Maine state economist, Augusta; Dava Davin, principal, Portside Real Estate Group, Portland; Jessica Estes, partner, The Boulos Company, Portland.
• 2021 New England Appraisers Expo (Oct. 18 – Four Points by Sheraton in Norwood).
• Basic Appraisal Principals (Sept. 10-18) - Hyatt Place in Braintree.
• Webinar: How to Become a Real Estate Appraiser (Sept. 18).
• Gen. Appraiser Sales Comparison Approach (Sept. 22-25) – Courtyard by Marriot in Woburn.
• 7-Hour National USPAP Update Course (Sept. 28) – Live virtual education.
• 15-Hour National USPAP Course (Oct. 1-2) – Hyatt Place in Braintree.
• Residential & Commercial Valuation of Solar (Oct. 4-5) – Live virtual education.
• Supervisor Appraiser/Trainee Appraiser Course (Oct. 14) – Live virtual education.
• General Appraiser Site Valuation and Cost Approach (Oct. 20-23) – Courtyard by Marriott in Woburn.
• Basic Appraisal Procedures (Oct. 29 – Nov. 6) – Hyatt Place in Braintree.
• General Appraiser Market Analysis and Highest & Best Use (Nov. 3-6) – Courtyard by Marriott in Woburn.
Reminder: AI Scholarship Opportunities:
• AIERF Minorities and Women AI Course Scholarship: Minorities and women Candidates for Designation who are active in appraising and need financial assistance to take Appraisal Institute courses leading to the MAI, SRA, AI-GRS or AI-RRS designations. Deadlines: Oct. 1 & Jan 1, 2022
• AIERF AI Course Scholarship: Candidates for Designation who are active in appraising and need financial assistance to take Appraisal Institute courses leading to the MAI, SRA, AI-GRS or AI-RRS designations. Deadlines: Oct. 1 & Jan. 1, 2022
• AIERF Practicing Affiliate Course Scholarship: Practicing Affiliates who are active in appraising and need financial assistance to take courses leading to the state certification. Deadlines: Oct. 1 & Jan. 1, 2022
John Drew, MAI, is the 2021 president of the Mass. and R.I. Chapter of the Appraisal Institute, and the manager of appraisal & marketing in the Rental Underwriting Division at MassHousing in Boston.