Taking Valuation Abroad

The Appraisal Institute recently invited Ken P. Wilson, MAI, SRA, 2014 President of the Appraisal Institute; Leslie P. Sellers, MAI, SRA, 2014 Chair of AI’s International Relations Committee; and Frederick H. Grubbe, CAE, to discuss AI’s international efforts. They talked about AI’s growing global presence and outreach abroad.

AI: What is the Appraisal Institute’s global presence?USA flag pin in international collection

KW: Appraisal Institute professionals live and work in nearly 60 countries on six continents.

AI: Who are the Appraisal Institute professionals who live and work abroad?

LS: Appraisal Institute professionals outside the United States and its territories engage in a wide variety of practices, and many are highly credentialed.

KW: Nearly half of all AI professionals outside the U.S. and its territories hold the MAI designation.

FG: And organizations in at least four countries have expressed interest in AI providing its educational offerings, including China, Kuwait, Mexico and Saudi Arabia.

AI: What is the scope of the Appraisal Institute’s outreach internationally?

FG: The Appraisal Institute’s elected officers and other representatives meet personally with valuation professionals around the world to build relationships and create opportunities.

KW: A typical year can include visits to at least a dozen countries, including: Canada, China, Germany, Japan, Korea, Kuwait, Latvia, Mexico, Norway, Romania, Saudi Arabia, Singapore, United Arab Emirates and others.

FG: AI’s representatives attend conferences, teach AI’s education and meet privately with other valuation organizations and appraisal clients.

KW: AI has bilateral agreements with nearly a dozen other appraisal organizations around the world. The Appraisal Institute has an international member on its policy-making Board of Directors: Guniz Celen, MAI, of Istanbul, Turkey.

LS: AI is represented on the International Property Measurement Standards Coalition’s Board of Trustees and its Standards Setting Committee.

AI: How does the Appraisal Institute interact with other valuation organizations?

KW: In any given year, the Appraisal Institute’s representatives attend events hosted by groups such as:

  • The European Group of Valuers’ Association;
  • Expo Real, which is Europe’s largest business-to-business trade show for property and investment;
  • National Association of Romanian Valuers;
  • International Valuation Standards Council;
  • HypZert, one of Germany’s leading valuation organizations;
  • Chinese, Japanese and Korean appraisal and banking entities; and
  • Cityscape Dubai, which is the Middle East’s largest real estate development and investment event.

AI: What role has the Appraisal Institute taken internationally in educating valuation professionals?

LS: The Appraisal Institute earlier this year signed a licensing agreement with Kuwait University’s College of Business Administration for AI to teach its educational offerings to university students. I had the pleasure of teaching the “Basic Appraisal Principles” course twice.

The Saudi Authority for Accredited Valuers signed a licensing agreement with AI for us to offer two courses to their appraiser staff. Colliers International Brazil has accepted the Appraisal Institute’s proposal to offer designation-level education to its staff appraisers.

The Appraisal Institute’s textbook – “The Appraisal of Real Estate,” now in its 14th edition – has been translated into 10 languages. The Appraisal Institute helped put in place a Master of Science in Real Estate program at the European Business School, which is part of International University in Germany.