September 25, 2015
To AI professionals and others in the real estate valuation profession: The Appraisal Institute is proud of its many decades of service to the appraisal profession and to the public. As the largest professional real property valuation association in the world, we understand and accept our responsibilities in upholding high standards and ethics, while creating and sharing a body of knowledge that is unrivaled.
In recent years, the Appraisal Institute’s calls for modernization of the regulatory framework for real estate appraisers have upset some very powerful interests that, until recently, have gone unchecked. The AI – and, frankly, all appraisers – recently received yet another hostile communication from The Appraisal Foundation. This latest salvo unfairly and irresponsibly attacks the Appraisal Institute, and is one of a series of incursions that are unprofessional, misleading and harmful to the profession. Further, this September 9, 2015, letter clearly illustrates poor stewardship of critical responsibilities granted to TAF by the United States Congress. Sadly, these attacks are designed to protect TAF’s interests rather than the appraisal profession and those who work in it. We are dismayed!