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Richard L. Borges II, MAI, SRA, to Become President of Appraisal Institute on Jan. 1

December 25, 2012 08:00 AM

CHICAGO (Dec. 26, 2012) – Richard L. (Rick) Borges II, MAI, SRA, of Greenwood, Ind., will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest organization of real estate appraisers with nearly 23,000 members in nearly 60 countries.

The Appraisal Institute’s other elected officers for 2013 are President-Elect Ken P. Wilson, MAI, SRA, of Plano, Texas; Vice President M. Lance Coyle, MAI, SRA, of Dallas, Texas; and Immediate Past President Sara W. Stephens, MAI, of Little Rock, Ark. Also serving on the Appraisal Institute’s Executive Committee, as a non-voting member, is Chief Executive Officer Frederick H. Grubbe, CAE.

In the coming year, the Appraisal Institute’s officers and Board of Directors will continue its focus on the Candidate for Designation program and its strategic vision that will transition the organization from a professional association to a professional society by 2016.

“This is the beginning of an exciting journey, and I’m simply overjoyed to be president of the Appraisal Institute as the Candidate for Designation program takes its first steps,” Borges said. “The goal now is to ensure that the program builds on its wide and deep foundation. It’s time to move our Candidates for Designation to the upper echelons of appraisers.”

Borges was the organization’s president-elect in 2012 and its vice president in 2011; he will become immediate past president in 2014. He will serve in 2013 as chair of the Appraisal Institute’s Executive Committee and will chair its policy-making Board of Directors.

Borges has been a member of the Appraisal Institute since 1978, a member of the National and Indiana Associations of Realtors and the Jackson County Board of Realtors since 1974 and the Crossroads Board of Realtors since 1997. He received the President’s Award from the Appraisal Institute in 2009.

Wilson has been involved in the real estate appraisal profession for more than 30 years. He joined a predecessor organization of the Appraisal Institute in the early 1980s. He began a three-year term as chair of the North Texas Chapter’s Education Committee in 1995 and at the same time was elected to the chapter Board of Directors; he also served multiple years as a regional representative.

Coyle has been involved in the real estate appraisal profession for more than 25 years. He served as president of the North Texas Chapter of the Appraisal Institute in 2000 and was a member of the Region VIII Committee for multiple years. He teaches AI qualifying and advanced education courses, and is certified by the Appraiser Qualifications Board of The Appraisal Foundation to teach the Uniform Standards of Professional Appraisal Practice.

Stephens has been active at the Appraisal Institute’s chapter, regional and national levels for more than 20 years. She served two terms as president of the Arkansas Chapter, is the chapter’s current Membership Admissions, Development and Retention Committee chair and has served as both chair and member of the chapter’s Nominating Committee and chair of the Education Committee. She is also a member of the Board of Directors of the Arkansas Chapter of the Appraisal Institute.


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The Appraisal Institute is a global membership association of professional real estate appraisers, with nearly 23,000 members in nearly 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Members of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA and SRA designations. Learn more at




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