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Chapter FYI from AI

Welcome to Chapter FYI!

The second Monday of each month, Chapter FYI will be sent via email to the following chapter leaders: President, Vice President, Secretary, Treasurer, Executive Director, Education Chair (and co-chair), and Candidate Guidance Chair. Each issue includes important information and updates pertaining to AI chapter leaders. Please feel free to share pertinent information with other leaders or members of your chapter. The current issue of Chapter FYI can always be found on the AI website.
 

Chapter FYI
February 13, 2017

In this issue

 
                                                      DATES & DEADLINES                                                
 
Feb. 14 – LDAC Registration opens
Feb. 24 – Nominations for 2018 AI Vice President due
Feb. 27 – Nominations for Y.T & Louise Lee Lum Award due
Feb. 28 – Minimum Chapter Criteria reporting Financial Statements due
March 13 – Chapter Executive Directors Quarterly Web Meeting
May 3-5 – LDAC conference
June 8-11 – Annual Conference, Ottawa, Ontario
Oct. 26-27 – Chapter Leadership Program, Intercontinental Hotel, Chicago
 
                                                      ANNOUNCEMENTS                                                    

LDAC Registration Opens Feb. 14
The 2017 Leadership Development and Advisory Council conference will be held May 3-5 in Washington, D.C. Registration for LDAC will open Feb. 14.

Please consider becoming an LDAC sponsor. You can sponsor a member of your chapter or choose from numerous other 2017 sponsorship opportunities. All money raised goes directly into the LDAC program, which allows us to continue our leadership development efforts. 

For additional information on LDAC 2017, please contact Evan Williams or Scott Brody.

The Appraisal Institute is seeking the names of those members interested in serving as the organization's 2018 vice president. The 2018 vice president succeeds to the office of the 2019 president-elect, 2020 president and 2021 immediate past president.

Deadline for submission is Feb. 24, 2017.
 
View the qualifications for 2018 vice president. The nominee cannot serve as a member of the National Nominating Committee at any time during the year in which his or her candidacy would be considered.  This does not preclude consideration for the office in future years.

If you are interested in serving or wish to recommend someone for the position, please submit your recommendation in writing to:

Scott Robinson, MAI, SRA, AI-GRS
Chair, 2017 National Nominating Committee
c/o Joan Barngrover
Appraisal Institute
200 W. Madison Avenue
Suite 1500
Chicago, IL 60606

Or email your recommendation to:jbarngrover@appraisalinstitute.org

The National Nominating Committee will meet in Chicago on, May 23-24.

The deadline for submitting applications for the Y.T. & Louise Lee Lum Award, which recognizes individuals who have made distinguished contributions* to the valuation profession during the immediate preceding year, is Feb. 27.

The award is given in recognition of and in great appreciation for the distinguished contribution to the furtherance of the high ideals of the profession of real estate appraising and practices, mindful of the fact that this contribution was possible only through zeal, uprightness, sacrifice, devotion, acumen and ability of the contributor. 

Both Appraisal Institute professionals and those who do not belong to AI are eligible.

Selection of the recipient is made by the Trustees of the Appraisal Institute Education Trust and will be announced during the 2017 International Valuation Conference in Ottawa, Ontario. The recipient will be awarded $1,000.

Nominators should provide the following:
• Letter of recommendation
• Resume of the nominee
• Brief biography of the nominee

*"Distinguished contribution to the appraisal profession" means any activity which directly and measurably tends to advance the knowledge, education and techniques in the fundamentals, principles and practices in the appraising of real estate; to further enhance the high ethical and intellectual standards of the Institute; and to maintain and expand the important and honorable services, practices and functions of the real estate profession.

Please email these items to educationtrust@appraisalinstitute.org with "Lum Award Nomination" in the subject line. For more information on the AIET and the awards, please click here.  

New AI Media Coverage Video Now Available for Chapters
A new video of the Appraisal Institute’s media coverage highlights is available for chapters to show at upcoming meetings. The video notes that media coverage of the Appraisal Institute and its individuals in the second half of 2016 was potentially seen, read or heard about nearly 900 million times, resulting in a publicity value of nearly $1.3 million.

From July-December, the Appraisal Institute and its individuals appeared in 651 stories that ran in 383 different newspapers, magazines, television and radio stations and online media outlets. This coverage generated 897,790,170 impressions (defined as the number of times a story may have been seen, read or heard). The coverage resulted in a publicity value of $1,294,950 (based on a vendor’s proprietary formula that approximates how much the coverage is worth).

View a 4:30-minute video of the Appraisal Institute’s media coverage from the second half of 2016. 

                                              MINIMUM CHAPTER CRITERIA                                         
 
Chapters must submit the following by Feb. 28:

• Statement of Financial Position (balance sheet) and Statement of Activities (income statement) produced in QuickBooks Online and reported in Minimum Chapter Criteria Report website.

Please see the Reporting Chapter Information section of the 2017 Chapter Operations Manual for more information on completing the Minimum Chapter Criteria Report.

Note: The Appraisal Institute will not reimburse a chapter for chapter dues and fees until the chapter has complied with the applicable reporting deadlines.
 

       EDUCATION  
                                             
2017 National State Approved Seminars
Please note that the following seminars will be approved by national this year.

 

  • FHA Appraising for Valuation Professionals
  • Review of Disciplinary Cases: Understanding an Investigation by a State Regulatory Board or Agency
  • Advanced Land Valuation: Sound Solutions to Perplexing Problems (premiering 2017)
  • Land Valuation 

2017 Chapter Fee Schedule
The 2017 fee schedule is now available for download in the resources section of the Knowledge Center. Only fees for Designation Education are increasing. Fees for all other program types will remain the same.

http://knowledgecenter.appraisalinstitute.org/

Dec_FYI

Designation Education Tuition Increase
Tuition for all Designation Education courses will increase this year, and the increase for all offerings is now reflected in OLRS. See chart below for AI Price and Full Price.
 
Dec_FYI_Tuition
 
  • Consider the bulk shipping option when setting up new classes in OLRS.
    • All materials are sent directly to chapters or location of the class.
    • Students have immediate access to materials via the Knowledge Center upon registration and for one year after the class.
    • Bulk shipping costs are typically 50 to 85 percent off costs.
    • This option must be selected at least 30 days before the start of the class.
  • Minimize last-minute shipping.
    • Order materials sooner than eight business days before the start of the class to ensure materials are shipped via UPS Ground. 
    • Order a few extra solutions and exams (if applicable) to accommodate walk-ins or late registrants.
  • Take advantage of downloadable materials option.
    • Direct late registrants to the Knowledge Center for the download-only option when you do not have hard copies available.
    • Encourage the download-only option to everyone to avoid all shipping costs. This is easily set up in the OLRS section, Offering Administration, under #3 - View/Edit Direct Ship Indicator.

CAPSCHED17

The ad deadline for the next issue of Valuation (second quarter) is April 21. To ensure inclusion in the ad, applications must be submitted and approved by end of that day.
 
  • Be careful not to submit duplicate applications
  • Please review application before submitting
  • Make sure to check spelling, etc.
  • What you enter is what is displayed on website

Now Available to Chapters
Review Case Studies — Residential

This hands-on two-day course is designed for appraisers, reviewers and other real estate professionals who regularly work with reviews. Participants will work through all seven steps of the review process and apply them to a simulated assignment that’s reflective of the work appraisers would be required to perform. Mandatory course for Candidates seeking the AI-RRS designation.

Case Studies in Appraising Green Residential Buildings
This updated one-day professional development course uses real-life case studies provided by builders, real estate agents and appraisers to introduce participants to valuation methods for appraising high-performance houses. Developed by the highly esteemed green expert, Sandy Adomatis, SRA, LEED Green Associate, this Appraisal Institute course uses her book Residential Green Valuation Tools as the required course material. The book can be purchased from the AI bookstore. Note: Chapters that buy the book in bulk (minimum six copies) will get a 20 percent discount. 

Residential and Commercial Valuation of Solar
As the United States continues to search for energy alternatives, solar photovoltaics for residential properties are becoming more common and creating a demand for appraisers properly trained in valuing them. This updated hands-on two-day professional development course introduces participants to solar terminology and uses real-life case studies to show how solar-related valuation problems can be resolved. Note: Students taking this course must have access to the internet.

Available to Chapters in April
Valuation of Conservation Easements

Designed for general certified appraisers, this updated four-day professional development course deals with the intricacies involved in one of the most misunderstood and difficult types of appraisals: conservation easements. Shortened from five days to four, this course will familiarize participants with conservation easement valuations in a variety of different situations, including conventional appraisals, appraisals that are required to comply with the Uniform Appraisal Standards for Federal Land Acquistions and appraisals involving non-cash charitable contributions that are required to comply with IRS standards.

Uniform Appraisal Standards for Federal Land Acquisitions
The much-anticipated update to the Uniform Appraisal Standards for Federal Land Acquisitions was released by the Interagency Land Acquisition Conference this past December and marked the first update to the standards in 16 years. The two-day course not only provides a comprehensive review of the Uniform Appraisal Standards for Federal Land Acquisitions 6th edition, it includes critical instruction to those involved in federal land acquisition valuation assignments. Case studies demonstrate practical procedures while also providing solutions. Whether you are a seasoned appraiser of federal land acquisitions or an experienced residential or general appraiser interested in expanding your client base to include federal acquisition agencies, this course will provide you with the knowledge you will need to correctly apply the Uniform Appraisal Standards for Federal Land Acquisitions. Note. This course previously was a seminar. It now includes a one-hour exam.  (14 hours + one hour exam). 

Uniform Appraisal Standards For Federal Land Acquisitions Changes-Overview for Appraisers. Learn about important changes included in the 6th edition of the Uniform Appraisal Standards for Federal Land Acquisitions, see the Appraisal Institute’s webinar: Uniform Appraisal Standards for Federal Land Acquisitions Changes - Overview for Appraisers.

Free electronic copy. To download an electronic copy of the 6th edition of the Uniform Appraisal Standards for Federal Land Acquisitions, click here.

Review of/Guidelines for Disciplinary Processes: Understanding an Investigation by a State Regulatory Board or Agency (title TBD)
This half-day seminar for residential and general appraisers is under development and will explore from a regulator’s perspective why a state investigation is serious business, how the investigative process works , how a complaint begins, the consequences of sanctions, the role of USPAP and what can be learned from disciplinary actions. Tentative release to chapters in July.
Land Valuation (title TBD)
This one-day practical applications seminar for general and residential appraisers will focus on the theme of land in transition. The course will feature five case studies and include discussion topics that will address complex issues in land valuation. Tentative release to chapters in July.
Advanced Land Valuation: Sound Solutions to Perplexing Problems
This one-day Excel-based seminar will explore five case studies that focus on practical applications of complex land valuation issues. The course will have a commercial focus, but the concepts presented also are applicable to residential assignments. Tentative release to chapters in August.

Development Projects Slated for This Year

  • Analyzing Tenant Credit Risk and Commercial Lease Analysis. Initially developed in 1998, this topic is just as important and relevant now, and has been revised over the years to reflect the changing market. This one-day seminar will provide an updated look into the ways tenant credit risk affects the valuation and analysis of commercial real estate.
  • Collateral Underwriter. New seminar.
  • General Site Valuation and Cost Approach. Update/revision.
  • General Report Writing and Case Studies. Update/revision.
                                     AI EDUCATION TRUST SCHOLARSHIPS                                                
Does your chapter have Candidates who are trying to meet their deadlines but may need assistance? Are your Candidates aware of the available Appraisal Institute Education Trust Scholarships? 
 
The Appraisal Institute Education Trust offers options to Candidates for Designation to assist them in completing their education deadlines. Upcoming scholarship deadlines: 
 
April 1 
  • Appraisal Institute Education Trust AI Course Scholarship 
  • Appraisal Institute Education Trust Minorities and Women AI Course Scholarship  
July 1
  • Appraisal Institute Education Trust AI Course Scholarship 
  • Appraisal Institute Education Trust Minorities and Women AI Course Scholarship  
  • Appraisal Institute Education Trust Candidate for Designation Scholarship
    • Note:  While the other scholarships only pay for one course, this scholarship pays for ALL advanced level education needed for Candidate status. 
Candidates are eligible to receive one scholarship per calendar year. 
Please note: It is recommended that, prior to submitting a scholarship application, applicants attend a minimum of two Appraisal Institute chapter meetings annually. 
 
The Appraisal Institute Education Trust also offers college scholarships! 
 
AIET offers scholarship opportunities to undergraduate and graduate college students studying the real estate industry. Applicants do not have to be affiliated with the Appraisal Institute but must have a major concentration in real estate. The deadline for the college scholarships is April 15.  
 
AIET Undergraduate Scholarship  
AIET Graduate Scholarship  
AIET Minorities and Women Education Scholarship 
 
Learn more about AIET Scholarship options - click here or email educationtrust@appraisalinstitute.org.
 
                                                      FEATURED AI BENEFIT                                                
The FedEx Advantage® Discount Program
Al Professionals receive special savings on select FedEx® shipping and business services. We're pleased to announce that we've recently negotiated better discounts for AI professionals allowing you to receive discounts of up 26% on FedEx® shipping and office services.

Once you've signed up, you can save:
·    Up to 26% on select FedEx Express® services 
·    Up to 20% on select FedEx Express ® international services 
·    Up to 20% on FedEx Office® services 
·    Up to 12% on select FedEx Ground® and FedEx Home Delivery® services 
   
FedEx ® offers outstanding services and value to our members. Click here for full details.

To view all AI Benefits, click here.

       AWARDS    
                                           
Nominate Individuals for ‘Volunteer of Distinction’ Honor
Appraisal Institute Designated Members, Candidates for Designation, Practicing Affiliates and Affiliates may nominate such individuals by submitting the nomination form to their chapter’s executive director or president. Each region’s honorees then are chosen by their regional executive director, in conjunction with the region’s chair and vice chair. The nomination form and additional information about the Volunteer of Distinction program can be found here.
 
           MEMEBERSHIP        
                                       
Recognize new Candidates for Designation, Practicing Affiliates and Affiliates at your next chapter event and help give them an extra-special welcome. You can enhance chapter retention in simple ways by working with your chapter leadership team to build a new outreach program that includes extending personal invitations to upcoming chapter meetings, asking a veteran Designated Member to mentor a new individual, highlighting new individuals in your chapter newsletter and calling or emailing new Candidates for Designation, Practicing Affiliates and Affiliates as soon as they join. 
 
View all new Practicing Affiliates who joined in January.
View all new Affiliates who joined in January.
 
Recognize and congratulate newly Designated Members in your chapter! A list of all individuals who recently were designated is available. View the list here.

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