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    AI News Releases Oct 9, 2023

    Appraisal Institute Leadership Updates Association of Appraisal Regulatory Officers

    SALT LAKE CITY – Craig Steinley*, Board President, and Cindy Chance, CEO of the Appraisal Institute, the nation’s leading professional association of real estate appraisers, updated attendees of the Association of Appraiser Regulatory Officers (AARO) Fall Conference regarding progress and change at the Appraisal Institute. Over three days of presentations and meetings, Steinley and Chance highlighted recent developments at the Appraisal Institute to AARO conference attendees and discussed ways to improve collaborative support to the real estate industry and the communities they together serve.
    In presentations, breakout sessions and one-on-one meetings joined by key Appraisal Institute staff, the following was highlighted by the Board President and the CEO: 
    • The Appraisal Institute has re-organized to more sharply focus on its strategic goals, improve operational efficiency and effectiveness, and move forward with transparency, accountability, collaboration, continuous improvement and professional conduct and service.
    • The pilot phase of the Appraisal Institute’s AI PAREA** program has been successful as regards to the user experience and outcomes. AI PAREA is the industry’s first to market – approved by the Appraiser Qualifications Board of the Appraisal Foundation – alternative pathway to experience for aspiring appraisers who have completed their qualifying education. Read More about AI PAREA
    • The Appraisal Institute’s Standards and Practices remain the gold standard of demanding fair and professional appraisals and combating any bias and discrimination in key components of the real estate industry.
    • The urgent need to attract and welcome new generations and communities of appraisers by showcasing advancements made by the Appraiser Diversity Initiative, while the profession adapts to market change and applies new technologies.
    • Support for the Portal for Appraisal Licensing Act (PAL Act), bipartisan legislation introduced in the House and Senate that would create a central repository for appraiser and AMC licenses, to assist states and appraisers in efficiently meeting regulatory standards for licensing and education. Read More about Appraisal Licensing Modernization 

    *   Craig Steinley, MAI, SRA, AI-GRS, AI-RRS
    ** Appraisal Institute's Practical Applications of Real Estate Appraisal