10A — September 13 - 26, 2019 — M id A tlantic
Real Estate Journal
www.marej.com
A ppraisal
By Alexander D. Knight, MAI, AI-GRS, Delaware Chapter of the Appraisal Institute Considering the real estate appraisal profession
T
here may be more young professionals entering the real es-
the practitioners. The press release continues: “The number of individuals sitting for the first time for one of the three National Uniform Licensing and Certification Exams increased significantly, with the number of Millennial test takers experiencing the steepest rise among all age groups in 2018, according to data prepared exclusively for The Appraisal Foundation by PSI Services, LLC. “1,459 individuals sat for the first time for one of three appraisal exams— Certified General, Certified Residential
and Licensed Residential—in 2018, which was a 23 percent increase over the 1,172 first- time test takers who sat in 2017.” “The 2018 number is the highest since 2014 when 2,630 first-time test takers sat for the exam before more strin- gent qualification criteria took effect in 2015. This number was considered an inflated outlier because people were rushing to take the exam. “Equal in importance to the overall increase of first-time test takers was the spike among those who are 35 years
old and younger taking the test for the first time. In 2018, 588 Millennials sat for one of the three exams, which was a more than 200 percent increase over 2017 when 194 Millennials sat for the exam.” With all that being said, consider the real estate ap- praisal field, and all that the Appraisal Institute has to of- fer. The Appraisal Institute is a global professional associa- tion of real estate appraisers, with more than 18,000 profes- sionals in nearly 50 countries throughout the world. Its mission is to advance profes-
sionalism and ethics, global standards, methodologies, and practices through the profes- sional development of property economics worldwide. Orga- nized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimi- nation in the appraisal profes- sion and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an ar- ray of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI- RRS designations. A keystone on which the organization was founded – and by which it con- tinues to serve the public – is that every individual agrees to conduct his or her profes- sional activities in accordance with the Appraisal Institute’s Code of Professional Ethics and Standards of Professional Appraisal Practice. As further evidence of its commitment to ethics and standards, the Ap- praisal Institute has a highly refined peer review process through which it enforces these standards and Code of Ethics. Alexander D. Knight, MAI, AI-GRS is the pres- ident of the Delaware Chapter of the Appraisal Institute. September 25, 2019 A Tour of the Beracah Home Facility &Discussion October 16, 2019 Panel Discussion, Commercial Appraisal Review, Report Presentation 2019 Chapter Officers and Directors Alexander D. Knight, MAI, AI-GRS, President Jay L. White, MAI, Past President R. Braxton Dees, MAI, Vice President Todd Harrison, MAI, Treasurer Geoffrey Anderson, Secretary Frank Selby, MAI, Director David Passero, MAI, Director Stephen Huston, SRA, Director 2019 DE Chapter Education Schedule
tate apprais- al field. The A p p r a i s a l Foundation t r umpe t ed “First-Time A p p r a i s a l Test Takers I n c r e a s e d 23 Percent
Alexander Knight
in 2018.” This is good news for a profession and profes- sional organization that has consistently been wringing its hands over the graying of
When it comes to getting deals done in today's fast-paced market, time is more important than ever. We think waiting 4-5 weeks for an appraisal is unconscionable
Made with FlippingBook - professional solution for displaying marketing and sales documents online