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Appraisal Institute Unveils New Certification Organization

May 8, 2014 12:55 PM

CHICAGO (May 8, 2014) – The nation’s largest professional association of real estate appraisers today announced the formation of a new certification organization: the International Center for Valuation Certification.

The ICVC will confer cross-disciplinary valuation certifications to individuals who meet select criteria, while addressing current market needs and opportunities, advancing professionals and serving the public and clients.

“The new entity will establish a future generation of cross-disciplinary valuation professionals and will enhance their marketability in a competitive job environment,” said Appraisal Institute President Ken P. Wilson, MAI, SRA. “Creating a certification organization will allow the new entity to demonstrate leadership in cross-disciplinary valuation principles, standards, methods and ethics.”

The ICVC is an Illinois not-for-profit organization. Its first Board of Directors consists of:

  • Richard L. Borges II, MAI, SRA;
  • Charles T. Cowart, MAI;
  • Jeffrey S. Enright, MAI;
  • James L. Murrett, MAI, SRA;
  • Misty K. Ray, MAI;
  • Faith A. Roland, SR/WA; and
  • Sara W. Stephens, MAI.

In October 2013, the Appraisal Institute announced three major strategic initiatives that have the potential to fundamentally reshape the global valuation profession:

  • Proposed Standards of Valuation Practice that could serve as an alternative for valuation professionals where national or other standards are not required;
  • Expanded delivery of Appraisal Institute education, becoming more proactive in identifying and pursuing appraisal educational opportunities; and
  • A new certification organization to establish a future generation of cross-disciplinary valuation professionals and to enhance their marketability in a competitive job environment.

The Appraisal Institute already has issued for comment two exposure drafts of the proposed Standards of Valuation Practice. The proposed standards could serve as an alternative for valuation professionals when current national or other standards are not required. These standards could be used when Uniform Standards of Professional Appraisal Practice, International Valuation Standards or other standards are not required and the use of the proposed standards would be appropriate.

Further, they would serve as an alternative set of standards that could be used independently, and not as an additional set of required standards. The proposed standards would not supplant USPAP or other national standards. The Appraisal Institute also has issued two exposure drafts of proposed revisions of its Code of Professional Ethics.

The Appraisal Institute also is expanding its delivery of Appraisal Institute education through a wider number and scope of providers, becoming more proactive in identifying and pursuing educational opportunities. By expanding its education delivery, the Appraisal Institute is strengthening its position as the leader in appraiser education; increasing the exposure of AI and its consistent, high-quality education; expanding the recognition of AI and its professionals; increasing awareness and interest in the valuation profession; and strengthening AI’s relationships with other organizations.

 

 

 

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The Appraisal Institute is a global professional association of real estate appraisers, with nearly 22,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org. 

 

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