By KEN P. WILSON, MAI, SRA
AI’s global efforts set stage for growth
The Appraisal Institute’s international growth over the past year has been outstanding. In fact, demand around the world has allowed AI to transform itself into a truly global organization of nearly 22,000
professionals in close to 60 countries on six continents. AI also has four
bilateral cooperation agreements and five letters of intent with valuation
organizations around the world, further expanding its reach.
interest in AI education, even introducing it
as a requirement for appraiser certification
The Appraisal Institute continues to
update, expand and share its body of knowledge around the world. To date, the textbook,
“The Appraisal of Real Estate,” has been
translated into 10 languages.
AI’s Global Leadership
AI’s growing international presence has helped put the organization on pace
to bestow a record number of designations this year. In the first 11 months of
2014, the Appraisal Institute conferred 861 designations, including 440 MAI,
144 SRA, 206 AI-GRS and 71 AI-RRS designations. AI also has an international
Designated member on its Board of Directors: Guniz Celen, MAI, of Istanbul.
Expanding its designations abroad will continue to be a priority for the organization in 2015 and beyond.
AI’s Strategic Initiatives
The Appraisal Institute’s previously announced three strategic
initiatives, approved by the Board of Directors in September
2013, also present significant opportunities internationally.
First, the Appraisal Institute in August approved and
issued its Standards of Valuation Practice that can serve as
an alternative for valuation professionals where national or
other standards are not required. In October, AI Immediate Past President Richard L. Borges II, MAI, SRA, AI-RRS,
addressed the Administration and Appraisal of National
The rest of the
Institute as the
Real Estate Institute (similar to the U.S. Department of
the Interior, whose function is to design and implement the Mexican
government’s policy of the republic’s real estate) in Mexico City, where he
informed the audience composed of officials who regulate financial professionals, including appraisers, how the Standards of Valuation Practice could
be used in Mexico.
Appraisal Institute leaders have attended
numerous international meetings, conferences and events this year, including The
European Group of Valuers’ Association
in Riga, Latvia; EXPO REAL in Munich
(Europe’s largest business-to-business trade
show for property and investment); the
International Valuation Standards Council General Assembly Meeting in Toronto;
HypZert in Frankfurt (Germany’s leading
national organization for valuers working
in real estate valuation and analysis in
the financial industry with international
partners); Chinese and Japanese appraisal,
investment and banking entities; and Cityscape Global in Dubai (the Middle East’s
largest real estate development and investment event), at which time, meetings were
held with the Dubai Land Department (the
Emirates valuation regulatory agency).
Second, the Appraisal Institute in May elected the Board of Directors
to lead a new certification organization to establish a future generation of
cross-disciplinary valuation professionals and to enhance their marketability in a competitive job environment. The International Center for Valuation
Certification* is expected to develop certifications that will be in demand
around the world.
This extensive international outreach
allows the Appraisal Institute to enhance its
global reputation as the valuation profession’s
thought leader, and to establish and enhance
relationships that will benefit the organization,
its individuals and the valuation profession
for years to come.
Third, the Appraisal Institute will expand its education delivery, becoming
more proactive in identifying and pursuing international opportunities. In
March, AI provided its first-ever educational offering for valuation professionals in the Persian Gulf, teaching in Kuwait City and later in Saudi Arabia.
In addition, other international government agencies have expressed an
The rest of the world recognizes the
Appraisal Institute as the international
leader in real estate valuation. Just think
what that reputation means for you — and for
your potential business opportunities — both
domestically and globally.
* The ICVC is a wholly owned subsidiary of the Appraisal Institute and was
formed as an Illinois nonprofit organization.