2024 IAC RP - Appraisal Modernization: Changes to Embrace, Changes to Resist

Session Description

“Appraisal modernization” refers to efforts to improve the appraisal process through better use of technology. But for many appraisers, “modernization” is code for less reliance on appraisers and more reliance on data collectors and artificial intelligence. At the Appraisal Institute, we support modernization efforts that enhance the ethical standards of professional appraisers in maintaining the public trust by ensuring excellence in real property valuation. Some efforts referred to as “modernization” support the work of professional appraisers, requiring and showcasing their expert analysis and opinion of value based on data, whereas some do not, substituting lesser methods of arriving at values with far less validity. This is an important opportunity to consider these two aspects of "modernization" and to take a stand on which trends are supportive of improvements in appraisal and will enhance the impact of the next generation of our profession, and which are deeply concerning, not just for the profession, but also for the public.

Speaker

Craig Steinley, MAI, SRA, AI-GRS, AS-RRS | 2024 Immediate Past President - Appraisal Institute

Continuing Education

Review of this session recording will award 1.2 CE hour. 

CPE credit is not awarded for this pre-recorded offering.