Craig Steinley, Appraisal Institute (AI) president, and Cindy Chance, CEO of AI, recently updated attendees of the Association of Appraiser Regulatory Officers (AARO) Fall Conference regarding progress and change at AI. Over three days of presentations and meetings, Steinley and Chance met with attendees and discussed ways to improve collaborative support to the real estate industry and the communities they together serve, according to an AI release.

In presentations, breakout sessions and one-on-one meetings joined by key AI staff, the following was highlighted by the board president and the CEO:

• AI has re-organized to focus on its strategic goals, improve operational efficiency and effectiveness, and move forward with transparency, accountability, collaboration, continuous improvement and professional conduct and service.
• The pilot phase of AI’s Practical Applications of Real Estate Appraisal (AI PAREA) program has been successful as regards to the user experience and outcomes. AI PAREA is the industry’s first to market – approved by the Appraiser Qualifications Board of the Appraisal Foundation – alternative pathway to experience for aspiring appraisers who have completed their qualifying education. https://www.appraisalinstitute.org/aiparea/
• AI’s Standards and Practices remain the gold standard of demanding fair and professional appraisals and combating any bias and discrimination in key components of the real estate industry.
• The urgent need to attract and welcome new generations and communities of appraisers by showcasing advancements made by the Appraiser Diversity Initiative, while the profession adapts to market change and applies new technologies.
• Support for the Portal for Appraisal Licensing Act (PAL Act), bipartisan legislation introduced in the U.S. House and Senate that would create a central repository for appraiser and AMC licenses, to assist states and appraisers in efficiently meeting regulatory standards for licensing and education.