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Ensuring Professional Excellence in the Valuation and Education Industry

Learn how the Appraisal Institute and American valuers and educators ensure a pipeline of professional excellence through education, standards, and technology. Discover the benefits and challenges of technology in the appraisal profession.

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Ensuring Professional Excellence in the Valuation and Education Industry

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  1. How American Valuers and Educators Ensure a Pipeline of Professional ExcellenceMay 13, 2016 TEGoVA Spring Meeting Scott Robinson, MAI, SRA, AI-GRS 2016 President Appraisal Institute

  2. The Appraisal Institute

  3. What is the Appraisal Institute? • Nearly 20,000 professionals in almost 60 countries • Extensive education curriculum in qualifying education, advanced education and continuing education • Dedicated to the advancement of the profession and the body of knowledge world wide

  4. The Appraisal Institute’s Mission • To advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide.

  5. The Appraisal Institute’s Vision • The Appraisal Institute is globally recognized for property economics, professional ethics, standards, methodologies, practices and for being a leading provider of professional educational programs.

  6. The Appraisal Institute’s Core Values • Distinctiveness • Innovation • Professional Responsibility • Advocacy • Leadership

  7. Appraisal Institute Designations

  8. Role of Appraisers in the United States

  9. Basic Obligations of U.S. Appraisers • Impartial and unbiased • Required to be independent and objective • No advocacy, no contingent compensation • Loss of license or civil/criminal penalties

  10. Type of Services Provided • Support for real estate lending decisions • Litigation support • Property tax appeals • Corporate accounting/portfolio valuation • Consulting and advisory services

  11. Characteristics of the U.S. Appraiser Population

  12. Time in the Valuation Profession Source: Appraisal Institute, 2014

  13. Age of U.S. Valuation Professionals Source: Appraisal Institute; Dec. 31, 2015

  14. Education Level of Valuation Professionals Source: Appraisal Institute; Dec. 31, 2015

  15. Annual Incomes: U.S. Appraisers and AI Designated Members Source: Appraisal Institute; Dec. 31, 2015

  16. Trends in the U.S. Valuation Profession

  17. U.S. Active Real Estate Appraisers -19,650 -20% Source: Appraisal Institute; Dec. 31, 2015

  18. Benefits of Being an Appraiser • Flexibility in work hours • Potential for high income • Satisfaction of solving difficult problems • Low start-up costs • Run a business

  19. Recruiting Future Appraisers • Working with master’s degree real estate programs in the United States • Approximately 12 programs nationwide

  20. Tools for Future Appraisers • Textbooks • Qualifying education • Networking • Mentors/advisers • Trainee opportunities • Technology

  21. Technology’s Impact on Appraisers • Real estate valuation is among many professions affected by technology. • Appraisers must be proficient in many types. • Appraisers need to be able to adapt.

  22. Technology’s Challenges • Appraisers are competing with automated valuation model programs. • No computer program can replace the judgment and reasoning of an experienced professional.

  23. Technology’s Opportunities • Big data opens doors. • New software can help appraisers work faster and smarter.

  24. Advantages of Technology for Appraisers Developing technology can help appraisers: • Save time • Make performing a function easier • Produce higher quality results

  25. Learn About Tech • The best way to adapt to new technology is to learn what’s available and how to use it. • The Appraisal Institute offers webinars to help appraisers adapt to new technology.

  26. Technology is a Supplement, Not a Replacement • Technology can’t substitute for: • Education • Experience • Peer Review • Use technology as a supplement to the tools and education that develop competency.

  27. How American Valuers and Educators Ensure a Pipeline of Professional ExcellenceMay 13, 2016 TEGoVA Spring Meeting Scott Robinson, MAI, SRA, AI-GRS 2016 President Appraisal Institute

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