CHICAGO – RealEstateRama – The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the Massachusetts Board of Real Estate Appraisers today announced their collective support for the development of additional training that addresses unconscious bias in valuation, and for each organization to individually review its Code of Ethics and other governing documents to further ensure awareness and compliance among its membership and the valuation profession as a whole.
“During this important time in our nation’s history, our organizations stand together to enhance existing training and ethics initiatives and work even harder to ensure that the appraisal process is free of bias or discrimination of any kind,” said Appraisal Institute President Jefferson L. Sherman, MAI, AI-GRS.
Specifically, the professional organizations pledge to develop training programs for appraisers covering unconscious bias issues, helping to increase awareness by connecting the appraisal community with thought leaders on bias and discrimination.
“Acknowledging that bias exists is but one small step. Together with our partners, we commit to doing the hard work of educating our members about the various ways bias can affect their work, and provide them the tools necessary to overcome bias. By doing this as a profession, and not merely as individual organizations, we hope to underscore to our members and the public just how important this issue is to all of us,” stated American Society of Appraisers International President Lorrie Beaumont, ASA.
Each of the organizations also commit to take steps to enhance their respective Code of Ethics to more firmly or overtly address bias and discrimination issues with protected classes.
“We are pleased to join this effort to raise awareness about unconscious bias. We believe the material will be relevant not only to our appraisers, but our farm manager members as well. We are always looking to improve and strengthen our principles and business practices as members of the American Society of Farm Managers and Rural Appraisers.” said ASFMRA President Dennis Reyman, AFM, ARA.
The professional organizations have frequently worked together this year, collectively addressing COVID-19 pandemic appraisal issues and policy issues facing the valuation profession.
“We believe there is no issue of greater importance than to address bias of any manner,” said MBREA President Michael Nicora, RA. “We support these collective efforts, which will better equip appraisal professionals with the tools to identify implicit biases in order to maintain their obligations under USPAP and the MBREA Code of Conduct.”
The Appraisal Institute is a global professional association of real estate appraisers, with over 17,000 professionals in almost 50 countries 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. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org.
The American Society of Appraisers is a world renowned and respected international organization devoted to the appraisal profession. As the oldest and only major appraisal organization representing all appraisal specialists, ASA is dedicated to providing the highest possible standards in all areas of ethics, professionalism, education and designation criteria. For more information about the American Society of Appraisers, the ASA designation program for appraisers or the Society’s free “Find an Appraiser” Referral System, visit www.appraisers.org or call (800) 272-8258.
The American Society of Farm Managers and Rural Appraisers® (ASFMRA®) is the largest professional association for rural property land experts, boasting over 2,100 members in 31 chapters throughout the United States. Founded in 1929, the ASFMRA truly represents The Most Trusted Rural Property Professionals and is the organization for individuals who provide management, consultation, and valuation services, as well as real estate services on rural and agricultural assets. Learn more at www.asfmra.org.
Founded in 1934, MBREA is deep in tradition, yet contemporary in our approach to serving our members. The association’s leadership is reflective of our membership, with both residential and general appraisers serving on the Board of Trustees. This diversity allows MBREA to identify and meet the needs of its equally diverse membership. MBREA’s committees form the backbone of the association in the areas of education, meetings, membership, designations and more. Learn more at www.mbrea.org.
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