Winding down the dog days of summer - by John Drew

August 13, 2021 - Appraisal & Consulting
John Drew

As we wind down the dog days of summer, the Appraisal Institute is not in short supply of programs, initiatives, and information that will provide our membership, and others in the appraisal community, more than enough to fill their fall agendas.

The Appraisal Institute, in collaboration with Fannie Mae and the National Urban League, is seeking sponsors for the Appraiser Diversity Initiative (ADI). As mentioned in this space in the past, the ADI was created to attract new candidates to the valuation profession, facilitate their entry into the field, and foster diversity within the appraisal community. The program seeks to create relationships and partnerships with sponsors to assist in funding workshops and other activities that expose aspiring appraisers to the necessary requirements to become an appraiser, provide educational opportunities, and assist them in exploring the career paths within the profession. ADI participants are awarded scholarships (see deadlines below) that support their completion of the base requirements needed to become an appraiser. The sponsorship program maximizes the ADI’s reach through private sector organizations, such as valuation firms, financial institutions, and technology companies, among others. The three sponsorship levels available, include: Supervisor Sponsors; Adviser Sponsors; also, In-kind or Workshop Sponsors. The sponsorships are for a one-year term, and are accepted on a rolling basis. More information, including an application for sponsorship and details regarding the next ADI “How to Become a Real Estate Appraiser” workshop (September 18th), can be found on the Appraisal Institute’s website.

I also encourage our members to regularly check-in on the AI’s quarterly e-newsletter, Washington Report & State News. The newsletter outlines current federal and state initiatives impacting the valuation profession. Appraisers are being scrutinized by legislators and regulators more closely than ever, and the newsletter is a fantastic source of information in this realm. One item in the most recent edition (Q2 2021), outlines President Biden’s direction to Housing and Urban Development Secretary Marcia Fudge to lead an interagency initiative focused on inequity in residential appraisals, as part of the White House’s effort to, “…seek to utilize, quickly, the many levers at the federal government’s disposal, including potential enforcement under fair housing laws, regulatory action, and development of standards and guidance in close partnership with industry and state and local governments, to root out discrimination in the appraisal and homebuying process.” This initiative, along with many of the other items outlined in the e-newsletter, is likely of keen interest to designated members, candidates for designation, practicing affiliates and affiliates of the Appraisal Institute.

On the local/regional level the MA-RI-ME Chapter has scheduled (see below) a robust line-up of educational offerings that I believe will provide our membership with a wide variety of continuing and qualifying educational opportunities, at an affordable price, throughout the fall. Further, as our national organization provides additional content, our education, programs, and candidates guidance teams will continue their work to make them available to our chapter members, including seminars on historic preservation easements, valuation of accessory dwelling units, fundamental demand analysis, and valuation bias. Our current line-up includes:

Programs

• Fall Chapter Meeting & Appraisal Service Vendor Showcase (Sept. 14th) – Live virtual. Join us in learning how to efficiently access the best comp data, demographics, and technology platforms used to create report documents and discounted cash flow models.

• Maine Real Estate Market & Economic Update 2021 (Sept. 24th) – Held at the Portland Harbor Hotel. The program’s panelists will discuss the current state of the Maine economy as well as provide a Maine residential and commercial real estate market Q4 forecast. A networking cocktail reception will follow the program

• 2021 New England Appraisers Expo (Oct. 18th) – Stay tuned for more details

Chapter Education:

• Business Practices and Ethics (Sept. 8) – Live virtual education

• Basic Appraisal Principals (Sept. 10-18) - Hyatt Place in Braintree

• 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, 2021 & 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, 2021 & Jan. 1, 2022

• AIERF Practicing Affiliate Course Scholarship: Practicing Affiliates who are active in appraising and need financial assistance to take Appraisal Institute courses leading to the state certification. Deadlines: Oct. 1, 2021 & Jan. 1, 2022.

John Drew, MAI, is the 2021 president of the Massachusetts and Rhode Island Chapter of the Appraisal Institute, and the manager of appraisal & marketing in the Rental Underwriting Division at MassHousing in Boston.

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