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Chapter FYI from AI

Chapter FYI - August 2018

Important Dates & Deadlines

AUGUST

23 | Chapter Executive Directors Quarterly Web Meeting 
31 | Green Education Program Grants application deadline.  Learn more.

SEPTEMBER

Terminations for non-payment of 2018 dues/fees
| Leadership Resource Registry submission deadline for 2019 national committees, panels, entities
10 | CLP registration and hotel reservation deadline.  Learn more.
30 | Submission deadline for 2019 chapter and region dues amounts
30 | James H. Pritchett Award nominations deadline. See "New Announcements" below to learn more.

OCTOBER

1 | AI Education and Relief Foundation scholarships deadline.  Learn more here.
1 | Premiere of Ignorance Isn’t Bliss: Understanding an Investigation by a State Appraiser Regulatory Board or Agency, Valuation Expo - Las Vegas, NV; Release to chapters Oct. 8. Learn more here.
5 | Debut of Valuation by Comparison: Residential Analysis & LogicLearn more here
11-12 | Chapter Leadership Program, Chicago, IL. Learn more here.

Future Meetings/Events/Deadlines

Nov. 5-8 | Debut of revised General Appraiser Site Valuation & Cost Approach. Learn more here .
Nov. 15-16 | AI Board of Directors 4th Quarter Meeting, Chicago, IL
Feb. 12, 2019 | LDAC 2019 registration opens
May 15-17, 2019 | Leadership Development and Advisory Council (LDAC), Washington, DC
July 22-24, 2019 | 2019 Annual Conference, Denver, CO

New Announcements

Chapter Business Tools - Revised Chapter Finances Section | Effective Aug. 6, the Chapter Finances section of Chapter Business Tools has a new look!  Some of the highlights and changes include:
  • Streamlined categories for easier identification of documents and forms.
  • Updated policies and new forms added.
  • Separate section for chapters and regions utilizing the CFMAP systems.

Chapter executive directors and leadership are encouraged to use the Chapter Business Tools for these financial resources.

Announcing the AI Education and Relief Foundation (AIERF) The Appraisal Institute Education and Relief Foundation (AIERF) was born out of the recent union of the AI Education Trust and AI Relief Foundation in order to most effectively and efficiently serve real estate appraisal professionals now and into the future.

For more than 50 years, the Appraisal Institute Education Trust (AIET) fostered the advancement of the real estate appraisal profession and played a critical role in supporting valuation education. AIET supported a vast range of initiatives, from world-renowned resources such as the Y.T. and Louise Lee Lum Library, to programs that will help secure the future of the valuation industry, including research grants and scholarships. 

Since the formation of the Appraisal Institute Relief Foundation (AIRF) following the 2005 Gulf Coast hurricanes, more than $300,000
in emergency financial assistance has been provided to appraisers and other individuals in need. 
 
Looking to the future, the AI Education and Relief Foundation will continue to seek opportunities to support and promote the profession
of real estate valuation and the individuals who comprise the profession.
 
Visit AIERF.org to learn more.
 
AIERF Seeks Pritchett Award Nominations from Chapters and Regions |  The James H. Pritchett Award was created in 2002, in memory of the late James Pritchett. The Pritchett Award recognizes a Designated member of the Appraisal Institute for outstanding contributions to appraisal education or mentoring with a focus on litigation and condemnation. The ideal candidate is someone similar to Mr. Pritchett: displays leadership, integrity, and exceptional work in teaching, writing, mentoring and professional practice in litigation support and eminent domain.
 
Please submit a letter of recommendation by Sept. 30 to aierf@appraisalinstitute.org.
 
Grants to Chapters for Green Education - Second Chance to Apply | The Appraisal Institute Education & Relief Foundation (AIERF) recognizes the importance of sustainable valuation knowledge in today's changing real estate marketplace and as such has created a grant program to support chapters which desire to offer one or more of AI's green education programs. 
  • An Introduction to Green Buildings
  • Case Studies in Appraising Green Residential Properties
  • Residential and Commercial Valuation of Solar
  • Practical Applications in Appraising Green Commercial Properties 

Click here to learn how to apply for grant funding to offer the above courses.  Aug. 31 deadline.

New AI Media Coverage Video Available for Chapters’ Viewing A new video covering the media highlights of the Appraisal Institute and its professionals is now available for chapters to show at upcoming meetings.

The video notes that, in the first half of 2018, media coverage of the Appraisal Institute and its professionals was potentially seen, read or heard nearly 2 billion times, with a publicity value of more than $3 million.

From January to June, the Appraisal Institute and its professionals appeared in 2,093 stories that appeared in 700 unique newspapers, magazines, television and radio stations and online media outlets.

This coverage generated 1,650,132,949 impressions, which is defined as the number of times a story may have been seen, read or heard. Coverage resulted in a publicity value of $3,070,269 (based on a vendor’s proprietary formula that approximates how much the coverage is worth).

Watch the 4-minute video of the Appraisal Institute’s media coverage from the first half of 2018. The video also is available for download in Chapter Business Tools on the website (under Chapter News and Media Coverage) and can be shown at AI chapter meetings.

AI Board of Directors Directs 45-Day Notice on Dues Schedule Changes | The Appraisal Institute Board of Directors at its Aug. 2-3 meeting in Nashville, Tennessee, voted to direct to 45-Day Notice proposed changes to the dues and fee payments sections of the Bylaws. Learn more about this and other action taken at the Board of Directors Meeting.

 

Education 

 New Education Announcement 

Please note: The following two seminars, Ignorance Isn’t Bliss: Understanding an Investigation by a State Appraiser Regulatory Board or Agency and Valuation by Comparison: Residential Analysis & Logic, have been submitted to all states for approval. Both will be available to Chapters in October. To assist Chapters in their marketing efforts, the Appraisal Institute will send out email marketing blasts with all Chapter offerings listed. Instructors who are approved to teach the seminars are listed below. Note that more instructors will be added to the Ignorance Isn’t Bliss seminar list after the instructor training webinar takes place on August 17th. To take advantage of this marketing effort, please get your applications in by August 24th

Ignorance Isn't Bliss
• Craig Steinley, SRA, AI-RRS (developer)
• Stephanie C. Coleman, MAI, SRA, AI-GRS, AI-RRS
• Paula K. Konikoff, JD, MAI, AI-GRS
• John R. Underwood, Jr., MAI, SRA
• Ted R. Whitmer, MAI, AI-GRS

Valuation by Comparison:

Mark R. Rattermann, MAI, SRA (developer)
Sandra K. Adomatis, SRA
Sherryl V. Andrus, SRA
James B. Atwood, SRA
Richard L. Borges II, MAI, SRA, AI-GRS, AI-RRS
Charles L. Cather, SRA
Stephanie C. Coleman, MAI, SRA, AI-GRS, AI-RRS
Charles F. Crider, MAI
Dennis R. D'Argenio, SRA
Vincent M. Dowling, MAI, SRA
Woody R. Fincham, SRA, AI-RRS
Richard M. Heyn, SRA
James Edward Jacobs, SRA, AI-RRS
J. Craig Julian, SRA, AI-RRS
• Cheryl A. Kunzler, SRA, AI-RRS
• Mark H. Maschger, SRA
• Rachel Massey, SRA, AI-RRS
• Dawn M. Molitor-Gennrich, SRA, AI-RRS
• Rick J. Muenks, MAI
• Valentino H. Pasquarella, Jr, SRA
• Gary F. Scott, SRPA, SRA
• John Craig Sewell, SRA
• Kern G. Slucter, MAI, SRA
• Mark V. Smeltzer, MAI, SRA, AI-RRS
• Gregory E. Stephens, SRA
• Maureen B. Sweeney, SRA, AI-RRS
• Dana R. Thornberry, MAI, SRA
• Larry T. Wright, MAI, SRA, AI-GRS

 

Classroom Education | Now Available: 

Evaluating Commercial Leases: The Tenant and the Terms Both Matter: Click here for more information about this newly released 7-hour seminar!

Solving Land Valuation Puzzles: Post-premiere version now available. Find out more here.

Review Case Studies-General: Revised material now available. Find out more here.

Review Theory-General: Revised material now available. Find out more here.

General Income Approach/Part 1: Recently refreshed! Click here for offering dates and more information.

General Income Approach/Part 2: Recently refreshed! Click here for more information and classroom offering dates.

Condemnation Appraising: Principles & Applications: Click here for information on this revised Litigation PDP course.

Classroom Education | In Development:

Ignorance Isn’t Bliss: Understanding an Investigation by a State Regulatory Board or Agency
NEW 4-hour seminar for residential and general appraisers. Explores why a state investigation is serious business, how the process works (in general), how a complaint begins, the consequences of sanctions, the role of USPAP, and what can be learned from disciplinary actions. Premiere and release to Chapters in October. 

Valuation by Comparison: Residential Analysis and Logic
Revisions based on release of 2nd edition of the book, Valuation by Comparison by Mark Ratterman, MAI, SRA. This seminar informs appraisers about the issues and procedures used in developing a sales comparison analysis for residential properties. Discussion focuses on the rationale and logic of the residential sales comparison approach through thoughtful debate on topics such as market value of actual sales, pending sales, new construction sales, expired listings, and rejected offers. Release to Chapters in October.

Rural Valuation Basics
This NEW 7-hour seminar provides residential and general appraisers with the fundamentals of analyzing comparable data for use in rural appraisal assignments.  It will focus on land mix analysis, improvement value extraction and allocation, and how to develop adjustments. A detailed case study will be used to expose students to real world examples. Tentative premiere in January 2019 and release to Chapters in February 2019.

How Tenants Create or Destroy Value
NEW 7-hour seminar will explore the issues and challenges associated with valuing a tenant’s interest in a property. Tentative premiere and release February 2019. 

General Site Valuation & Cost Approach
MAJOR REVISION set to debut November 5-8. Course has been reorganized, content has been updated, and the exam is now 3 hours (rather than 2). Release to Chapters immediately after debut.
 
The Appraiser as an Expert Witness
15-hour PDP Revision. Tentative release November.

Working with the Agencies: FHA, Fannie, Freddie, VA
NEW 7-hour seminar.

Litigation Appraising: Specialized Topics
15-hour PDP Revision - tentative release in 2019.

General Report Writing & Case Studies
MAJOR REVISION tentative debut 2019  

Marketing Flyers Available for Chapters

If interested in obtaining the pdf of one or more of the flyers listed below, please contact Mallory Whaley (mwhaley@appraisalinstitute.org). 

  • Ignorance Isn’t Bliss: Understanding an Investigation by a State Appraiser Regulatory Board or Agency
  • Valuation by Comparison (available soon)  
  • AIM HIGHER: DID YOU KNOW THE APPRAISAL INSTITUTE PROVIDES MORE THAN QUALITY EDUCATION TO THE VALUATION PROFESSION? (Click here to view example flyer)
  • Evaluating Commercial Leases: The Tenant and the Terms Both Matter
  • Practical Applications for Appraising Green Commercial Properties
  • Solving Land Valuation Puzzles
  • Advanced Land Valuation: Sound Solutions to Perplexing Problems
  • Valuation of Conservation Easements
  • Uniform Appraisal Standards for Federal Land Acquisitions: Practical Applications
  • Case Studies in Appraising Green Residential Building
  • WANTED: Real Estate Appraisers Who are Experts in Litigation (Litigation education/publications)
  • Do you have the competency needed to value green properties? (Green education/publications - click here to view example flyer)
The Appraisal Institute Marketing Department developed a brochure called “AIM Higher” to help educate clients about the Appraisal Institute education and designations. This brochure is available to AI Chapters to purchase, but the first 25 are free. The “AIM Higher” education brochure can be handed out during the registration process the day of a class.  To order the brochure and get your first 25 free, visit Brochures for Consumers within the Marketing and PR section of Chapter Business Tools.

AIMHigherPicAIMHigherEducationPathwayChart

 
The Education Committee recently adjusted the timeline for all classroom and synchronous registration and online session end dates (see chart below).  
 
This affects the following four courses:
Advanced Income Capitalization
Advanced Market Analysis and Highest and Best Use
Quantitative Analysis
Advanced Concepts and Case Studies
 

Important Deadlines for MAI Designation Education

Task

Deadlines

Official FIRST day of course—day online session begins

28 days BEFORE the classroom session begins

Last day to register for and submit the Diagnostic Test

21 days BEFORE the classroom session begins

Last day to receive a “pass” confirmation on Diagnostic Test

14 days BEFORE the classroom session begins

Last day to register for the course with printed materials*

14 days BEFORE the classroom session begins

Last day to register for the course*

days BEFORE the classroom session begins

Last day to cancel registration with full refund

15 days BEFORE the classroom session begins

Last day to cancel registration with $150 cancellation fee

14 days or less BEFORE the classroom session begins

Last day to cancel registration with -0- refund

7 days or less BEFORE the classroom session begins

Last day to complete online session

days BEFORE the classroom session begins

 
Those with chapter access to the Knowledge Center will now see the Instructor Materials for the programs that they are set to offer.  This will assist you if your instructors contact you about materials.  Also, the Education Committee now allows solution booklets to be sent to the student in advance for direct ship, and are immediately available to download by registrants on the Knowledge Center.  If your students are receiving their materials direct ship or download, then solutions will only need to be ordered for those that are pick up on-site.
 
*Update – Please note that there are a handful of temporary exceptions to this as our development staff works on some content changes needed to allow for this. Please see list of courses affected.
 
Residential & Commercial Valuation of Solar
• 7-Hour USPAP
• 15-Hour USPAP
 
Consider the bulk shipping option when setting up new classes in OLRS
  • All materials are sent directly to chapter 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 will typically save between 50-85% off costs.
  • Option must be selected at least 30 days before the start of the class.
Minimize last-minute shipping
  • Order materials sooner than 8 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) in case of walk-ins or late registrations
Take advantage of downloadable materials option
  • Direct late registrants to Knowledge Center for download only option when you do not have hard copies available.
  • Encourage download only option to all (no shipping costs to the chapter). This is easily set up in the OLRS section, Offering Administration, under #3 - View/Edit Direct Ship Indicator.
July_2018__FYI
 
For all offerings of the NEW Practical Application in Appraising Green Commercial Properties course, an additional “contact information opt-out” form will be sent to the chapter to be passed around to students during class. Once the form is completed, chapters will need to send the completed form to education@appraisalinstitute.org. The reason for this form and the language that appears on the form is below. If you have questions, please contact Mallory Whaley, mwhaley@appraisalinstitute.org.
 
The materials for the Practical Applications in Appraising Green Commercial Properties course include images provided by CoreLogic/Marshall & Swift products. The Appraisal Institute has agreed to send CoreLogic contact information of attendees who take the course so that CoreLogic can send communications to course participants after the class has ended. If you do NOT want to receive communication from CoreLogic/Marshall & Swift, please check the box before your name. 
 
The "contact Information opt-out" form is also downloadable here.
 
When registering students, they must have created an AI username and password before registration. They must have this established in order for them to access various items on the website and within the Knowledge Center. Please do not register students without these credentials.

Newly Designated Members
Recognize and congratulate newly Designated Members in your chapter! A list of all individuals who were recently designated is available here.
 
Volunteer of Distinction Program

Eight individuals honored as AI ‘Volunteer of Distinction’ in Q2 | The Appraisal Institute announced July 11 the recognition of eight individuals as a “Volunteer of Distinction” for the second quarter: Paul E. Chandler, MAI, (Northern California Chapter); Nancy Cruz, SRA, (Puerto Rico and Caribbean Chapter); Lee R. Smalley, MAI, (South Florida Chapter); Reaves C. Lukens III, MAI, SRA, (Philadelphia Metropolitan Chapter); Melissa M. Downing, MAI, (Northern California Chapter); Terry S. Larson, MAI, (Northern California Chapter); Linda M. Powers, MAI, (Rio Grande Chapter) and James A. Rohrig, MAI, (North Texas Chapter).

Any Designated Member, Candidate for Designation, Practicing Affiliate or Affiliate in good standing who makes contributions to the Appraisal Institute, the valuation profession and their local community is eligible to be recognized. AI professionals submit nominations, on a form provided on the Appraisal Institute’s website, to AI national staff. Appraisal Institute staff receive and review nominations to confirm that they conform to the program’s selection criteria. Individuals may not nominate themselves.

Check out the updated Nomination Form and Program Description for further details

 

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