The future for residential and commercial properties shows that all lights are “green” for energy-efficient valuation. As green and energy-efficient buildings become increasingly mainstream, appraisers who are regarded as knowledgeable and experienced in this area of practice may find new opportunities for assignments.
The majority of construction firms of single-family homes responding to a McGraw-Hill Construction survey reported that more than 15 percent of their projects are green, with that number expected to rise to 84 percent by 2018. Green also is growing in commercial construction with 40 to 48 percent of nonresidential construction being classified in that category.
The Appraisal Institute is providing the tools appraisers need to hone their skills, to be recognized as leaders in green valuation and to provide clients with the most current information available.
AI has developed the Valuation of Sustainable Buildings Professional Development Program Registry for residential and commercial properties. At the request of appraisers’ clients, in April 2014 the Appraisal Institute expanded its Valuation of Sustainable Buildings Professional Development Program’s online registries of residential and commercial appraisers to include everyone who has completed the courses. After successful completion, appraisers are added to the Residential or Commercial Registry.
This four-course program, as well as others available through the Appraisal Institute, offers professional development courses to real estate appraisers on cutting-edge, problematic or advanced-level topics. The program covers both residential and commercial properties and is open to Appraisal Institute individuals and non-AI professionals. The courses are approved by the Green Building Certification Institute (GBCI) for continuing education credit.
While there may be other qualified Appraisal Institute professionals knowledgeable about green and energy-efficient assignments who have not taken the Valuation of Sustainable Buildings Professional Development Program, placement on the registries shows potential clients and employers that these individuals have obtained knowledge on this specialized topic.
Along with appraisers, those who may benefit from this program include lenders, builders, public officials and attorneys. Additional courses are expected to be developed and added to the program to help ensure professionals have access to the timeliest information.
Learn more about the “Valuation of Sustainable Buildings Professional Development Program.”
Appraisers, for those of you who are on the registries, what would you say to colleagues to urge them to participate in the Valuation of Sustainable Buildings Professional Development Program?