Each year approximately 100 appraisers from across the U.S. are selected to participate in the Appraisal Institute’s Leadership Development and Advisory Council (LDAC) in Washington, D.C. This year’s LDAC was held from May 19th through the 21st. LDAC brings together individuals involved in the real estate profession to foster creative thought while developing the future leaders of the Appraisal Institute. Further, LDAC establishes an “appraiser-presence” in Congress. For this year’s LDAC, the Northern California Chapter of the Appraisal Institute nominated and sponsored Melissa Downing, MAI and Michelle Sturtevant, MAI, R/W-AC to attend.
This year’s LDAC included four discussion topics: (1) Defining and Promoting the AI Designated Member Difference; (2) Embracing and Using Technology – Becoming a Technology Savvy Real Estate Appraiser; (3) Defusing the Succession Time Bomb – Solving the Trainee/Supervisor Dilemma; (4) Create New and Expand Existing Client Relationships (through unique, value added enhancements and market diversification that cause AI Designated members to stand out from other appraisers). Discussion Reports will be published from National in the near future, which will provide more details on each of the discussion topics.
In addition to participating in the discussion sessions, attendees had the opportunity to lobby on Capitol Hill. This year’s lobbying efforts focused on SBA 7(a) Loans for Special Purpose Properties and Protecting the Integrity of the Appraisal.
With regard to SBA Loans for Special Purpose Properties, late in 2013, the Small Business Administration (SBA) amended SOP 50-10F essentially preventing qualified real estate appraisers from performing “going concern appraisals” relating to loans for special purpose properties (involving properties under a change of ownership). As of January 1, 2014, SBA lenders are forced to obtain two appraisals – a real estate appraisal and a separate business valuation. Our lobbying efforts focused on urging members of the House and Senate to support legislation currently under development (Leuktemeyer/Schrader bill) that would reaffirm the acceptance of competent real estate appraisers to prepare going concern appraisals of special purpose properties for SBA 7(a) loans. The Senate was urged to introduce companion legislation for the Leuktemeyer/Schrader bill.
An additional focus of our lobbying efforts was on S.1217, the Housing Finance Reform and Taxpayer Protection Act, knows as “Johnson-Crapo,” in the Senate and H.R.2767, the Protecting American Taxpayers and Homeowners Act or “PATH Act” in the House. House Members were urged to protect the integrity of the appraisal by not allowing appraisal information in the “National Mortgage Data Repository” to be made publicly available. Similarly, attendees urged the Senate to protect the integrity of the appraisal, by not allowing any appraisal information found in the “National Mortgage Database” to be made publicly available.
The conference venue was the Renaissance Washington – DC Dupont Circle Hotel. A beautiful and comfortable setting for the event. The lobby area provided a welcoming place for meeting other attendees and networking all hours of the day and night.
After conference hours, Melissa and Michelle enjoyed sight-seeing in downtown Washington DC and took advantage of the Capital bike sharing program to sample wonderful restaurants and visit our nation’s national monuments.
Also, we’re pleased to announce that Melissa Downing, MAI received the Ted Anglyn Outstanding Participant Award for outstanding contribution as a first-year participant in the Leadership Development & Advisory Council!
This year’s LDAC was filled with thoughtful and creative discussions, proactive lobbying efforts, and the opportunity to socialize and network with some of the best and the brightest individuals involved in the real estate profession! Our Chapter attendees came back with many ideas of how to improve our Chapter as a community and further our common goal in the appraisal profession. Following are a few photos (click on each photo to enlarge) from the recent event!