APPRAISAL REPORT
News from
the Appraisal
Institute
ASSOCIATE MEMBERS WILL BE REQUIRED TO
COMPLETE 70 HOURS OF CONTINUING EDUCATION every five years following the Appraisal Institute Board
of Directors’ vote during its Feb. 4–5 meeting in Nashville,
Tenn. The change becomes effective July 1 for those who are
Associate members as of that date.
As part of the 70 hours, Associate members will be required
to complete the Uniform Standards of Professional Practice
Course, the Business Practices and Ethics Course and an
advanced education course. Associate members currently
are required to take and pass the Standards Course and
to take the Ethics Course within
the first year of membership
and then again in every
five-year cycle. ( There are
some alternatives to these
requirements for Associate
members who have taken and, where
appropriate, passed three courses.)
The new continuing education requirements are intended to raise
the level of education of all Associate members and to raise the quality of appraisal services. Most state-certified appraisers already are
required to complete a minimum of 70 hours of continuing education
every five years.
Individuals who become Associate members on or after July 1 will
be placed on five-year continuing education requirement cycles beginning the July 1 following their admission to Associate membership.
Associate members who fail to complete their continuing education
requirements within their five-year cycles will be suspended for up to
six months or until they complete the requirements, whichever is quicker.
The membership of Associate members who fail to
complete their continuing education requirements by
the end of the suspension period will be terminated.
Beginning in 2015, Associate members who
complete their five-year continuing education
cycles will be required to state in their written
appraisal reports whether they have completed
the new requirements.
p v e m
to complete the Uniform Standards of Professional Practice
t i
the first year of membership
members who have taken and, where
MORE TO LEARN
Additional CE requirements for Associate members
For more information, see page
26 of the 45-Day Notice dated
Dec. 18, 2009, which can be
found in the members-only sec-
tion of the Appraisal Institute’s
Web site at www.appraisalinsti-
tute.org/myappraisalinstitute/
downloads/45daynotice_121809.pdf.
help from a hawkeye
Iowa Chapter’s 2009 outgoing
president continues Lum
Library donation tradition
Richard Koestner, SRA, the outgoing president of the Iowa Chapter of the Appraisal
Institute, continued the chapter’s tradition
of requesting that a donation be made to
the Lum Library in lieu of being presented
with the traditional presidential plaque. In
turn, he received a certificate acknowledging the contribution in his name at the
chapter’s November 2009 meeting.
“We feel the Lum Library is one of the
best member services the Institute provides.
Wayne (Hennessey, MAI, SRA, Iowa Chapter
executive director) has done an excellent
job of promoting this service, and we will
always support it,” Koestner tells Valuation.
The Lum Library houses an extensive
industry-related virtual library consisting of
thousands of articles, documents, research
reports and other resources. Appraisal Institute members can access the library 24 hours
a day as well as obtain reference services
from library staff.
“When the Iowa Chapter’s executive direc-
tor first contacted me about their outgoing
chapter president’s request, I felt very honored
to have the library’s service to our members so
prominently recognized,” Lum Library Direc-
tor Eric Goodman says. “Library staff strives
to provide complete and prompt services to
member information requests; it is our job. To
have this type of appreciation really increases
our motivation to continue to improve services
and enhance information delivery.”
Appraisal Institute chapters interested
Chris Jenkins, MAI, (left) presents Dick
Koestner, SRA, with a certificate acknowledging the contributions he made as the Iowa
Chapter’s 2009 president.
in establishing a similar tradition should
contact the Lum Library at egoodman@
appraisalinstitute.org for further details.
Donations are welcome at any time and can
be made in honor of a member’s outstanding achievements and service, as well as in
memory of departed members or colleagues.
