STEVEN G. ELLIOTT, SRA, MRA
CHAIRMAIN – BOARD OF TRUSTEES
THE APPRAISAL FOUNDATION
CPA’s
• The American Institute of Certified Public Accountants (AICPA)
and its predecessors have a history dating back to 1887, when
the American Association of Public Accountants (AAPA) was
formed. In 1916, the American Association was succeeded by
the Institute of Public Accountants, when there was a
membership of 1,150. The name was changed to the
American Institute of Accountants in 1917 and remained so
until 1957, when it changed to its current name of the
American Institute of Certified Public Accountants. The
American Society of Certified Public Accountants was formed
in 1921 and acted as a federation of state societies. The
Society was merged into the Institute in 1936 and, at that
time, the Institute agreed to restrict its future members to
CPAs.
•
It has a membership of approximately 385,000
AMERICAN BAR ASSOCIATION
• On August 21, 1878, seventy-five lawyers from
twenty states and the District of Columbia met
in Saratoga Springs, New York, to establish the
American Bar Association. Since that first
meeting, the ABA has played a formative role
in the development of the profession of law in
the United States.
• It currently has approximately 400,000
members
10
U.S. Appraiser Population
As of June 30, 2013
Total Licenses and Certifications, and Number of
Appraisers
125000
120000
115000
110000
105000
100000
95000
90000
85000
80000
75000
2006
2007
2008
2009
2010
2011
2012
2013
Active Licenses/Certifications 112050 121100 117600 113400 109950 106100 102400 101750
Actual Number of Appraisers
93575
98450
95750
92750
90500
86800
83400
82250
As of June 30, 2013, the total number of real estate appraiser licenses/certifications decreased 0.6
percent from year-end 2012. Comparatively, the actual number of active appraisers in the U.S.
decreased 1.4 percent for the same period. As of 2013, the actual number of appraisers decreased by
16.5 percent from the peak 2007 level.
AI Membership
As of June 30, 2013
AI Membership
26000
25000
24000
23000
22000
21000
20000
AI Membership
2006
2007
2008
2009
2010
2011
2012
2013
22125
22325
24825
25450
24450
22975
23000
23100
Counts rounded.
As of June 30, 2013, the Appraisal
Institute has nearly 400 Designated
members and Candidates for designation
in more than 60 countries outside the
U.S. The breakdown is 231 Designated
members who hold 1 or more Appraisal
Institute designations and 160
Candidates for designation.
ROYAL INSTITUTION OF CHARTERED SURVEYORS
(RICS)
Per the U.S. Headquarters in New York, more
than 500 MAI’s have obtained their RICS
designation (MRICS, FRICS)
International Valuation Standards Council
(IVSC)
• The IVSC is a membership organization and is
open to a wide range of stakeholders including
professional institutes, valuation providers,
standard setters, regulators of valuation
services and academia. Members are provided
with a forum for participation in the work of
the IVSC which can advise the Boards on
agenda priorities. The IVSC currently has 74
member bodies from 54 countries
TEGoVA
The European Group of Valuers' Associations,
is a European non profit making association
composed of 53 valuers' associations from 30
countries representing about 70,000 valuers
in Europe.
Valuers Global Forum
(VGF)
The Valuers Global Forum, an organization comprised of leading valuers from
around the world. The purpose of the Forum, which was established by the Board
of Trustees of The Appraisal Foundation, is:
• To create opportunities for representatives from many countries to dialogue
concerning notable issues and solutions that impact the valuation profession
around the globe;
• To create initiatives that will advance the valuation profession in development,
credibility and influence around the world;
• To provide an information portal for The Appraisal Foundation and the
international valuation community relative to international activities and
occurrences within the valuation profession.
International Property Management Standards
Coalition
On May 2nd, a group of professional organizations met at the World Bank to work toward
formulating a uniform professional standard for property measurement on a worldwide basis.
The following 20 members having signed the Declaration:
Australian Property Institute (API)
The Appraisal Foundation (TAF)
Appraisal Institute (AI)
Asia-Pacific Real Estate Association (APREA)
Asociacion Professional de Sociedades de Valoracion (ATASA)
American Society of Farm Managers and Rural Appraisers (ASFMRA)
ASTM International
Building Owners and Managers Association (BOMA)
China Institute of Real Estate Appraisers and Agents (CIREA)
CoreNet Global
Council of European Geodetic Surveyors (CLGE)
Commonwealth Association of Surveying and Land Economy (CASLE)
International Consortium of Real Estate Associations (ICREA)
International Federation of Surveyors (FIG)
International Monetary Fund (IMF)
International Real Estate Federation (FIABCI)
Property Council of Australia (PCA)
Royal Institution of Chartered Surveyors (RICS)
Open Standards Consortium for Real Estate (OSCRE)
South African Property Owners Association (SAPOA)
IFRS (International Financial Reporting Standards)
r13 Fair Value Measurement applies to IFRSs that require or
permit fair value measurements or disclosures and provides
a single IFRS framework for measuring fair value and
requires disclosures about fair value measurement. The
Standard defines fair value on the basis of an 'exit price'
notion and uses a 'fair value hierarchy', which results in a
market-based, rather than entity-specific, measurement.
IFRS 13 was originally issued in May 2011 and applies to
annual periods beginning on or after 1 January 2013.
Alliance for Valuation Education
(AVE)
The Appraisal Foundation (TAF) and its
Sponsoring Organizations have formed a
national education partnership, the Alliance
for Valuation Education (AVE), an organization
dedicated to providing greater availability of
consistent, quality valuation education. The
AVE will be composed of TAF and 11 of its
Sponsoring Organizations (Alliance Sponsors).
WHERE IS ALL OF
THIS GOING?
STARDATE 2053
• The Alliance of Professional Valuation
Organizations (APVO) announces the
retirement of long time member and past
national president of the Appraisal Institute
Rick Borges, after 75 years of service.
• Rick was president of AI in 2013 and retired
briefly in 2028 but quickly returned to the
profession after his wife, Lavonne, also an
appraiser, told him she didn’t want him “just
hanging around”
• His re-entrance into the profession was
extremely fortuitous. Rick immediately
headed up a committee to battle the
increasingly restrictive valuation guidelines
imposed by UGLC ( Universe’s Giant Lending
Consortium) (UHGLICK)
• UGLC controlled all institutional lending for all
property types throughout the galaxy and was
hampering valuation professionals in their
ability to perform ethical and competent
valuations.
• At the hearing before the Council of
Interstellar Financial Guardians, his quote of
“I’ll be damned if I’m going to restrict my
comparables to the same planet or keep them
within one light year of the date of valuation
simply because UGLC says so” turned the tide
in favor of our profession.
• His impassioned defense of valuation
professionals in all fields was the tipping point
in the hearings that resulted in a dramatic
overhaul of UGLC and the elimination of its
choke hold over the valuation profession.
• It was truly eventful night with many other
luminaries from all of the valuation disciplines
honored for their hard work and contributions
to the valuation profession.
• Following the awards ceremony the 10,000
attendees were treated to the superb musical
musings of Fred Grubbe and his Jazz Junkies,
until the early morning hours when the sun
came up over all of Jupiter’s 66 moons.
THANKS VERY MUCH
ANY QUESTIONS?