AI Asks Congress to Limit VA Third-party Inspections

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The Appraisal Institute is continuing its proactive advocacy efforts in Washington on behalf of AI professionals. Learn more about that and other important updates during the past month.

AI Asks Congress to Limit VA Third-party Inspections

The Appraisal Institute on Oct. 10 called on the House Veterans Affairs Committee Subcommittee on Economic Opportunity to support the use of appraiser trainees over non-appraiser property inspectors when U.S. Department of Veterans Affairs fee appraisers utilize third-party inspections.

AI urged that H.R. 3561 be clarified to establish that third-party inspections would only be permitted in rural areas.

Read AI’s letter.

AI Seeks Proposals for Sessions at 2018 Annual Conference

As I mentioned in last month’s message, the Appraisal Institute is seeking proposals by Dec. 1 for presentations at the Appraisal Institute 2018 Annual Conference, July 30-Aug. 1, in Nashville, Tennessee. The conference theme is “Setting the Stage for Success.”

Attendees of previous AI Annual Conferences said they were particularly interested in these topics:

  • Business best practices
  • New technology and resources
  • Sustainability in real estate
  • Capital markets issues
  • Market analysis
  • International valuation
  • Property rights issues
  • Litigation support
  • Residential issues and practices.

Learn more about submitting a presentation.

AI Advocates for USPAP Changes

The Appraisal Institute recently responded to the Appraisal Standards Board’s USPAP Update Survey via letter and represented its position at the ASB’s Oct. 13 public meeting in Washington, D.C. Paula Konikoff, JD, MAI, AI-GRS, chair of AI’s Professional Standards and Guidance Committee; AI Vice President Stephen Wagner, MAI, AI-GRS; and staff from AI’s Washington office attended.

The Appraisal Institute suggested changes to USPAP for the betterment of users of appraisal services and the public trust. Most notably, AI suggested a different approach be taken relative to the number of intended users allowed under the Restricted Appraisal Report option and encouraged the ASB to convert USPAP into a principles based standard.

Specifically, the PSGC comment letter urged that USPAP should exclude requirements that are not necessary for all intended uses, where requirements that are specific to certain intended uses should be presented separately. To accomplish this, USPAP itself should be pared down to include only those requirements that truly are applicable to all valuation assignments, and requirements that are applicable only for certain intended uses should be moved to other standards documents, according to the PSGC.

Be Sure to Update Your “Find an Appraiser” Profile

One of the biggest member benefits available to AI professionals is the Find an Appraiser function. Find an Appraiser was accessed nearly 28,000 times in the past month.

Find an Appraiser has been updated in recent years to include new areas of professional focus, property types, resumes, photos and geocoding so users of appraisal services can identify AI professionals geographically.

Click here to maximize this benefit with your updated profile and contact information.

Roger Ball Receives President’s Award

I was pleased to present J. Roger Ball, MAI, AI-GRS, with a President’s Award on Oct. 26 during AI’s Chapter Leadership Program in Chicago.

I previously presented President’s Awards to César Servando Cantú Martinez, MAI, SRA, and to Pledger M. (Jody) Bishop III, MAI, SRA, in June at the International Valuation Conference in Ottawa, Ontario.

Roger was honored for his extensive service to the Alabama Chapter, including several officer roles, as well as his participation in AI’s Leadership Development and Advisory Council. He currently serves on the national Education Committee.

AI President Joins RESNET Board of Directors

I was honored to be appointed to the Residential Energy Services Network’s board of directors on Oct. 2. My term continues through Dec. 31, 2018.

RESNET is an independent, national nonprofit organization that sets home energy efficiency standards and developed the Home Energy Rating System. AI has been working closely with RESNET for several years, and I’m very glad that our organization now has an official voice.

AI Contributes at Major Industry Events

In keeping with the Appraisal Institute’s commitment to convey its thought leadership to real estate professionals and others, Immediate Past President Scott Robinson, MAI, SRA, AI-GRS, presented at Valuation Expo, Oct. 2-4, in Las Vegas, on “Reconciliation of Value.” AI also exhibited at this event.

Additionally, I was joined by President-Elect Jim Murrett, MAI, SRA, and Vice President Stephen Wagner, MAI, SRA, AI-GRS, at Expo Real, Oct. 4-6, in Munich, Germany. We were able to extensively market our organization, and provide information to attendees at one of the world’s largest real estate conferences. In addition, five German members received their SRA designations at an evening reception.

Scott also represented AI at the American Society of Appraisers’ International Appraisers Conference, Oct. 7-10, in Houston, and at the Federation of Valuers, AC (commonly known as FECOVAL) Congress, Oct. 10-13, in Tampico, Mexico. He also presented at The European Group of Valuers Association (commonly known as TEGoVA) Fall Conference, Oct. 26-28, in Marseilles, France, on “AVMs vs. Appraisals: A U.S. Perspective.”

Stephen joined me at the Association of Appraiser Regulatory Officials (commonly known as AARO) Fall Conference, Oct. 13-16, in Washington, D.C., where I participated on a panel discussing “Appraiser Independence and AMCs: Is It True Independence?” Stephen and Amy C. McClellan, SRA, presented on “Appraisal Review for Appraiser Regulators” at the AARO event. I also delivered a presentation at the American Bankers Association’s State Issues Summit, Oct. 27, in Chicago, on “The State of the Valuation Profession.”

International Relations Committee Chair and AI past president Ken Wilson, MAI, SRA, spoke at the Union of Pan American Valuers (commonly known as UPAV) Conference, Oct. 24-27, in Punta de Este, Uruguay, on the “Appraisal Institute Body of Knowledge.”

Other News Around AI

And here’s some additional important news from the Appraisal Institute:

Have an outstanding month!