Live from AI Connect 2013: July 25

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The 2013 Appraisal Institute Annual Meeting concluded Thursday night in Indianapolis. Here’s a recap of the day’s happenings and highlights.

General Session Addresses Future of Profession

The Appraisal Foundation Board of Trustees Chair Steven G. Elliot, SRA, MRA, told attendees on Thursday that, even as the real estate market continues its slow recovery, the valuation profession still faces numerous challenges, such as market conditions, government intervention, client expectations and many others.

Elliot also took a look into the future to postulate how appraisers will respond to these challenges, and went on to discuss potential opportunities that may exist for appraisers. “One in every three babies born today will live to be 100 (years old). Think of all the construction,” Elliot told attendees.

Elliot also discussed his views on issues such as professional standards, qualifications, designations, education, ethics and methodology practices.

Panelists Stress Importance of Technology and Data

Mark Linne, MAI, SRA, chief executive officer of ValueScape Analytics; Rene Circ, director of research, screen_shot_2013-07-25_at_10.47.09_pmindustrial, for Property and Portfolio Research (a division of CoStar Group); and Jack Huntress, managing director, residential, at Environmental Data Resources, addressed attendees during Thursday’s closing general session about the future of appraisal data and the crucial role technology plays in running a successful appraisal business.

The panelists outlined trends and advances in technology impacting the data that is important to real estate valuation.

“I think the future is about two things: it’s about data and technology,” Linne told attendees. “It removes road blocks if we (as appraisal professionals) can connect and share with one another.”

The panelists also discussed what the landscape will look like for data companies in the future, what new technological developments may affect real estate, and how valuation professionals should prepare to integrate new technologies and solutions into their practices and services.

AI Honors Five National Award Winners

Harry B. Holzhauer, MAI, SRA, SRPA, formerly of Lake Oswego, Ore., posthumously received the Lifetime Achievement Award; and Robin C. Amorin, MAI, of Austin, Texas, received the Outstanding Service Award during the Appraisal Institute’s awards dinner on Thursday night.

The Lifetime Achievement Award is presented to an AI professional who demonstrates high ethical standards; has volunteered several years of service and has contributed to the Appraisal Institute on the international, national, regional and/or chapter level; and has contributed to the appraisal profession for at least 20 years.

The Outstanding Service Award is presented to an AI professional who contributed ideas, service hours and dedication to ensure a program or effort is implemented at either the chapter, region, national or international level; is instrumental in the success of the program or effort to the benefit of chapters, regions, national or international professionals.

Three individuals were also honored with the President’s Award this evening. This is presented to an AI professional who is committed to the organization; currently engaged in its activities; an effective spokesperson; a representative at all times; and in touch with both the needs of other professionals and the changes that the organization must help its individuals to meet.

President’s Award recipients were Roscoe W. “Rocky” Shiplett, MAI, of Charlotte, N.C.; William D. “Otto” Spence, MAI, of Louisville, Ky.; and Sandra K. Adomatis, SRA, of Punta Gorda, Fla.

Are you at AI Connect? Share your favorite highlights from the day!