President's Message
A Momentum-Filled Month
The past month has seen a flurry of activity on a number of different fronts, and I want to take a moment to share some highlights and recent developments with you.
Annual Conference
Our 2026 Annual Conference in Nashville brought together nearly 600 attendees under the theme "Back in Tune: Striking a New Chord in Valuation." The energy in the room was unmistakable as industry leaders and innovators left attendees with practical takeaways to thrive as appraisers, business owners, and leaders. We packed the agenda with sessions across commercial, residential, and business development tracks, where presentations featured GSE appraisal updates, the UAD/URAR redesign, commercial valuation advancements, technology tools, and leadership development. At our awards ceremony, we recognized outstanding volunteer contributions - congratulations again to all honorees.
We look forward to seeing you at our next Annual Conference, which will be held in New Orleans. Save the date: April 27 and 28, 2027.
Inaugural University Valuation Case Challenge
The conference delivered one of its most exciting moments when we launched the first-ever University Valuation Case Challenge. Sixteen teams from twelve universities from across the country competed, with judges from across the appraisal profession and real estate. Watching the next generation of valuation professionals present their work reminded us why programs like the Appraiser Development Initiative and AI PAREA matter so much to our profession's future. We’re already planning for the 2nd UVCC, and if this inaugural year was any indication, next year’s event will be even better.
Two Landmark Publications
At the conference, we debuted The Appraisal of Real Estate, 16th Edition and The Dictionary of Real Estate Appraisal, 8th Edition. This is the first time these two cornerstone texts were developed in tandem. Members responded strongly, and sales have already exceeded our expectations. These two publications reflect years of careful work and the evolving landscape of our profession, including expanded coverage of technology, artificial intelligence, and green building terminology. If you haven't picked up your copies yet, I encourage you to do so.
Board of Directors Meeting
Immediately following the conference, your Board of Directors remained in Nashville and met April 16 & 17 for its Q2 meeting. The Board acted on several important items, including the Veterans’ Initiative Program; updates to the LDAC Policy and Procedure Manual; revisions to Regulation 6-A and the Explanatory Comment to Ethical Rule 2-3(G); and adoption of a new Event Code of Conduct. Additionally, we continued our focus on improving the functionality, efficiency and agility of our national governance, national committees, and our related bylaws, regulations and policies, as I described in prior messages.
The week after the meetings, we shared additional context and details during our 2Q Board Meeting Recap and Q&A session , where we walked through the Board’s actions and answered questions from members.
New Course Premieres
Our education team continues to deliver. AI on AI Replay has drawn strong demand since the program wrapped up last month, and more than 500 participants have joined a growing learning community focused on integrating artificial intelligence into everyday valuation practice. Last week, we premiered Analyzing Defects, Damages & Deficiencies in Columbia, SC (with a virtual option). Later this month we will premiere Analyzing & Reporting the Income Approach, and our chapters are offering full slates of URAR Companion Courses nationwide as we prepare for the November 2026 UAD 3.6 transition.
Leadership Update
Currently on medical leave, CEO John Udelhofen has announced that he will be stepping down from his position at the end of June. On behalf of the Board of Directors and the Executive Committee in particular, I personally want to thank John for all he has done for the Appraisal Institute since joining us in May 2024 and assuming a CEO role in September 2024. We wish nothing but the best for John in the coming weeks and months ahead.
In a Special Board Meeting on the afternoon of May 1, the Board of Directors appointed Jim Slawnikowski to the position of Acting CEO. Jim joined the Appraisal Institute in December 2024 and has been Senior Director of Operations since January of this year, with his responsibilities expanding across the organization’s operations and support functions. He brings a deep understanding of our work, the Appraisal Institute team and our mission, and he has personally expressed to me his eagerness in building on the strong foundation established during John’s tenure. The Board action speaks to the confidence it has in Jim’s ability to provide steady leadership during this transition period.
Looking Ahead
Real momentum continues to build across this organization—in education, in advocacy, in member services, and in the dedication of our volunteers and staff. The recent Executive Order on Promoting Access to Mortgage Credit could carry wide-ranging implications for residential and commercial appraisers alike, which makes your voice more important than ever. On May 20–22, we will host Legislative Day alongside LDAC, giving you your next opportunity to engage directly with policymakers on the issues shaping our profession. I strongly encourage you to participate so we can ensure appraisers have a seat at the table as policymakers shape these policies.
Thank you for your continued support and commitment to the Appraisal Institute.
Michael J. Acquaro-Mignogna, MAI, SRA, AI-GRS
President
Appraisal Institute