by R. Scott Adams, MAI

The End is Near

Well, we dodged a bullet on May 21^st and 2012 is not quite upon us, so the end of the world stuff is being held at bay for the time being.  But it is nearing the end of my year as President of the Seattle Chapter, well, at least this is the last President’s Message.  Nevertheless, there are still a number of social and educational offering set for this Fall, including the September 21^st Chapter Dinner and October 19^th Chapter Lunch (don’t forget the 2 hours of CE), the Advanced Concepts and Case Studies course set for mid-November and last, but not least, the 5^th Annual Fall Conference is set for October 27^th at the Washington State Convention Center.  AI President Joe Magdziarz will be the lunch keynote speaker, while Robert White of Real Capital Analytics is the morning keynote speaker.  These will precede the November 16^th Chapter Dinner, featuring the Past Presidents Night and the installation of the 2012 Chapter officers, which include the 2012 Chapter President, Chris Monger.

I would like to thank all of you that have supported me during this past year, from the Chapter Chairs and Committees, who so graciously accepted our request to serve, to the Officers, Directors and Seattle Operating Support Staff, who have made what we accomplished this year possible. I hope that my participation as this year’s President is seen as positive in terms of re-energizing the chapter and moving a number of Associates along the path toward designation.  The 150 person turnout for Treat Your Associates Night in April and the fact that we have already designated 8 new MAIs and SRAs in 2011, with hope for up to 4 more before year end, is evidence that we are indeed having a successful year.

I recently attended the Joint Region Committee Meeting and Region 1 Meeting on August 14^th in Las Vegas, which preceded the Appraisal Institute’s Annual Meeting.  The key points from the Joint Region Committee Meeting are:

• The impasse between the Appraisal Institute and The Appraisal Foundation is likely to continue a while longer.  At this point, time is considered the greatest ally in resolving the differences.
• The AI National Offices are moving starting on September 16^th, with plans to be back open for business on September 20^th.
• Jim Amorin gave an impassioned speech about the importance of Why we do what we do, that’s it’s not the what or the how that’s important.  He referenced that in July 1932 the AIREA was formed to “instill public confidence in Real Estate.”  The why of the formation of the AIREA in light of the valuation problems associated with real estate, which were one of the causes of the Great Depression.
• Then Lance Coyle unveiled the results of the Strategic Planning Committee’s work, which, while not a surprise, will change the way the Appraisal Institute operates.  More should be forthcoming on the local Chapter level later this Fall.
• Announced plans call for multiple new membership categories, (e.g. academia, review appraising, etc.), mandatory upper level continuing education for designated members, and an enhanced peer review process.  But the biggest change will likely be that Associate Members will be replaced by “Candidates for Designation.”  These candidates will be mentored at the Chapter level, but little other specific details were released during his presentation.

Following the AI Annual Meeting was the National Board of Directors Meeting, where much was discussed concerning implementation of the Strategic Planning Committee’s report, but little will be known by the general membership until 45 day notices are released pending adoption.

As the final piece of my last President’s Message I would like to challenge all of you to be better stewards of the public’s trust, much along the same lines as why the AIREA was formed in the first place.  This needs to be the centerpiece of why we are real estate appraisers and why we have sought the designations of the Appraisal Institute.  The buck needs to stop at our desk.  If the property that is the subject of an appraisal exudes excellence, then reward it by all means, but if it does not, expose its flaws through the proper use of comparative analysis in the valuation process.  There is nothing we can do to recover the public’s trust in the appraisal industry that has been caused by appraisers who are not members of the Appraisal Institute, but there is a lot we an do, as members of the AI, to ensure that the public trust is protected if a report is prepared or reviewed by an Appraisal Institute member.