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Southern Indiana’s Rick Borges, MAI, SRA, Elected Vice President Of Nation’s Largest Real Estate Appraisal Association

August 16, 2010 08:00 AM

CHICAGO (Aug. 17, 2010) – Richard L. (Rick) Borges II, MAI, SRA, formerly of Seymour, Ind., was elected Thursday as 2011 vice president of the Appraisal Institute, the nation’s largest professional organization of real estate appraisers.

Borges will serve as vice president of the Appraisal Institute beginning Jan. 1, 2011. The following year he will serve as president-elect, and in 2013 will become the Appraisal Institute’s president for one year, followed by a year as immediate past president. He also will serve on the organization’s Executive Committee those four years and will be a member of the Board of Directors during that time as well.


"I truly appreciate the opportunity to continue serving the public, the Appraisal Institute and the appraisal profession as a member of the Institute’s leadership team," Borges said. "It is a great honor that brings tremendous responsibility requiring long and hard work that I am eager to begin. I look forward to building the Appraisal Institute’s relationship with its more than 25,000 members in about 60 countries around the globe."


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 Columbus (Ind.) Board of Realtors since 1997.


Borges received the President’s Award from the Appraisal Institute in 2009, the Richard E. Nichols, MAI, SRA, Lifetime Achievement Award from the Hoosier State Chapter in 2008, the Edward L. White Achievement Award from the Hoosier State Chapter in 2000, the Dick Snyder Service Award from the Indiana Association of Realtors in 1984 and the Realtor of the Year Award from the Jackson County Board of Realtors in 1982.


He is an Indiana certified general appraiser, an Indiana real estate broker, an Indiana Level I and Level II assessor-appraiser, an Appraiser Qualifications Board-certified Uniform Standards of Professional Appraisal Practice instructor and an Indiana-certified tax representative.


Borges is a partner with his wife, B. LaVonne Borges, SRA, in Borges & Borges Real Estate Advisors, a full-service real estate firm with offices in Seymour and Greenwood, Ind., providing counseling, brokerage, development and appraisal services since 1977.


Borges is concluding three years of service as a member of the Appraisal Standards Board of The Appraisal Foundation. In addition, Borges has been a contributor and developer for several appraisal-related textbooks and seminars, including "Appraising Residential Properties," fourth edition, published by the Appraisal Institute in 2007.


Borges has been a member of the Appraisal Institute faculty since 1987. He is currently an AI-approved instructor for more than 35 education courses or seminars, and teaches across the nation on a regular basis. In addition, he was an adjunct faculty member at Ivy Tech State College from 1994 to 1997.


Borges is a graduate of Indiana University with a bachelor’s degree in general studies and a graduate of Vincennes University, where he earned a highway technology certificate while employed by the Indiana Department of Transportation before entering the real estate field. He and his wife are the parents of daughters Shane Apolskis, Rikki Houghton and Elaine Reed and grandparents to twins Haley and Hunter Reed; all reside in Greenwood, Ind.


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The Appraisal Institute is a global membership association of professional real estate appraisers, with more than 25,000 members and 91 chapters 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. For more information regarding the Appraisal Institute, please visit





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