Regulatory watch, fresh learning opportunities, and what’s trending in real estate
In this issue:
- FTC warning on noncompetes: What it could mean for appraisers
- Trending Topics Thursday: Reserve studies for HOA and condo associations (free webinar)
- WIN events: Speaker Series (Women Leading the Way) and WIN Meeting (Most Unusual Property Youve Ever Appraised?)
- Advocacy and horizons: Housing package passes in U.S. House, plus LDAC Legislative Day meetings on Capitol Hill and top real estate reads
Insights
FTC Warning on Noncompetes Signals Potential Impact for Appraisers
A recent warning from the Federal Trade Commission (FTC) to mortgage industry firm Mortgage Connect highlights growing regulatory scrutiny of noncompete agreements, a development that could have implications for real estate appraisers and appraisal firms.
According to reports, the FTC cautioned the Pennsylvania-based lender after allegations raised in litigation suggested that some employment restrictions may have exceeded legal boundaries. While the agency did not announce a formal enforcement action, the warning reflects the FTC’s continued focus on worker mobility and competition within housing finance industries.
Noncompete clauses are relatively common in portions of the appraisal profession, particularly among appraisal management companies (AMCs), larger valuation firms, and certain independent contractor arrangements. These agreements may restrict appraisers from working for competitors, soliciting former clients, or starting competing businesses for a period of time after leaving a company.
Supporters argue that such provisions protect legitimate business interests, including client relationships, training investments, proprietary systems, and market research. Critics, however, contend that overly broad restrictions can limit professional mobility, reduce competition, suppress earnings, and contribute to appraiser shortages in some markets. The legal landscape remains complex. State laws governing noncompete agreements vary significantly, with some states sharply limiting or banning them altogether while others permit reasonable restrictions tied to geography, duration, and business necessity.
Although the FTC’s proposed nationwide ban on most noncompetes remains tied up in court challenges, regulators continue examining restrictive employment practices on a case-by-case basis.
For appraisers, renewed attention serves as a reminder to carefully review employment and contractor agreements, particularly provisions related to competition, client solicitation, geographic limits, and post-employment restrictions.
As labor mobility issues gain more attention nationwide, noncompete agreements may become an increasingly important issue across the valuation profession.
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AI Blog
A new AI blog explores why the Real Estate Finance, Statistics, and Valuation Modeling course helps appraisers build practical skills they will use throughout their careers, from understanding financing structures to interpreting market data and supporting valuation conclusions.
The next live online session begins May 26. Read the blog and register while seats are still available.
Trending Topics Thursdays:
Sign up for our next free webinar
Reserve Studies for HOA & Condominium Associations - What Appraisers Need to Know
June 18, 2026 at 11:00 AM CDT
Reserve studies are increasingly shaping how community associations plan, fund, and disclose long‑term capital needs, and this has real implications for valuation, risk, and marketability. In this one‑hour, appraiser‑focused webinar, a reserve-study practitioner and an HOA general manager (end user) discuss how reserve studies are developed and used, what boards and managers look for when hiring reserve professionals, and practical ways appraisers can interpret and evaluate reserve-related information when working on condo and HOA‑governed properties. The program also highlights emerging legislative requirements affecting association reserves and introduces how appraisers can leverage core cost approach competencies to expand into reserve‑study work.
Key takeaways include:
- Reserve study fundamentals: scope, major components, and common terminology
- How associations use reserve studies for budgeting, capital planning, and communicating funding needs
- What an HOA/condo manager looks for when procuring reserve-study services and reviewing deliverables
- Legislative and regulatory trends influencing reserve requirements and disclosures
- Opportunity for appraisers: how reserve studies align with, and can leverage, core cost approach competencies, plus practical career pathway insights for adding reserve studies to your service offerings
Panelists:
- Bernie Guthrie, General Manager, CMCA, AMS, LSM, PCAM, Lake of the Woods Association, Inc
- Jon (Jay) Dawson, SRA, AI-RRS, RS, Edge Realty Advisors
Advocacy Updates
Appraisal Institute Backs House-Passed Housing Package as Appraisers Press Priorities on Capitol Hill
The U.S. House passed the bipartisan 21st Century ROAD to Housing Act on May 20, advancing a package aimed at expanding housing supply, improving affordability, and updating federal housing programs. The Appraisal Institute said the bill includes two measures it supports, the Appraisal Modernization Act and the Appraisal Industry Improvement Act, which would require the FHA, FHFA, the Department of Agriculture, and the Department of Veterans Affairs to implement and maintain clearer, agency-specific reconsideration of value (ROV) guidelines, while also bolstering the appraisal workforce through education and training support. The legislation now awaits Senate consideration.
Against that backdrop, appraisers from across the country traveled to Washington, D.C. last week for the Appraisal Institute’s Leadership Development & Advisory Council (LDAC) and Legislative Day, meeting with members of Congress and staff to discuss the Portal for Appraisal Licensing Act (PAL Act), the role of appraisers in the VA home loan program, and the appraisal-related provisions in the ROAD to Housing Act, particularly workforce development and ROV reforms.
Member Moves and Media
Gillenwater Earns Stock Yards Bank President’s Award
Ashley M. Gillenwater, MAI, AI-GRS, Vice President of Commercial Real Estate Lending at Stock Yards Bank & Trust, was recently awarded the bank’s President’s Award for top sales performance for the fourth quarter of 2025.
Gottlieb Discusses Market Trends and Property Valuation
Steven Gottlieb, MAI, AI-GRS, recently shared insights on shifting market conditions, discussing how interest rates, inflation, asset class performance, and location-specific data continue to shape commercial real estate values and investment decisions. State of Real Estate Valuations | Forvis Mazars US
Real Estate Horizons
Stay updated and check out links to the latest major real estate industry stories!
More Opportunities to Learn
Search the latest educational offerings! Find National and Chapter-sponsored classroom, synchronous, and online opportunities.
Your Community
LDAC 2026: Leadership, Innovation, and the AI Era
The 2026 LDAC Conference convened emerging and established Appraisal Institute leaders for discussions on the profession’s future—leadership, innovation, and the evolving role of appraisers.
This year’s topics asked participants to think bigger, lead boldly, and shape what comes next.
“Leading with Accountability,” led by Chris Stickney, MAI, emphasized that consistency in communication is one of the most valuable qualities of an effective leader and a critical component in building trust, accountability, and strong organizations.
“Are We Playing to Win, or Are We Playing to Not Lose?” led by George Koiso, MAI, challenged attendees to examine whether the profession’s greatest threat is external disruption or an internal reluctance to evolve and innovate.
“Appraising in the AI Age,” led by Hilary Jones, MAI, AI-GRS, explored how appraisers can best harness the power of artificial intelligence and position themselves to succeed as the profession continues to evolve.
“Making it Count – Our Role in Building a Better Future,” led by Julian Rondello, MAI, encouraged participants to recognize the impact individual members can have in strengthening and shaping the long-term future of the Appraisal Institute.
LDAC remains one of the Appraisal Institute’s premier leadership development experiences, bringing professionals together to exchange ideas, strengthen leadership skills, and help guide the future of the appraisal profession.
Until Next week
Team Appraisal Institute
