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The Importance of Voting YES for the ASA-NAIFA Merger

By Ernest A. Demba, FASA, ARM-RP
Real Property Discipline Governor

Ernest A. Demba, FASA, ARM-RP
Real Property Discipline Governor

As one of your Real Property representatives on the Board of Governors (BOG), I want to take this opportunity to urge you to cast your vote -“YES”- to unify the real property valuation profession. By voting YES, you vote to merge the NAIFA and the ASA Real Property Committee and Disciplines. If you have not already done so, please do so as soon as possible before our national meeting in Houston.

“In my view, and others, the long-term future
of our profession depends on a YES vote.
We owe it to those who follow in our footsteps
to take this position and lay the foundation
for success for others.”

Last week I celebrated my 71st birthday and will not be in the profession long enough to see all the benefits of the unifications just beginning. However, for the benefits of our profession, these steps must be taken and these are the rights ones. I was Chairman of the Real Property Committee back in the early 1990’s when the first steps began with the NAIFA and this is the time to finish the process. ASA is the only major national appraisal organization representing six appraisal and valuation Disciplines. And under this unique umbrella concept, each valuation discipline will continue to grow and thrive. As an example, this growth of our Real Property Discipline with the NAIFA may be just the first of potential future growth opportunities which are in the future. However, currently, this growth for the Real Property Discipline within the current ASA structure may add an additional 60% of new membership to our Real Property ranks. Just think what this means to our position within both the ASA and the profession.

If you didn’t receive your ballot invitation, please contact ASA at mergerinfo@appraisers.org or call (800) 272-8258. If you still have doubts about the benefits of a YES vote, or seeking additional information, please contact me at (636) 227-0321 (my office) or by e-mail at demba@wustl.edu.

Thank you for your time and consideration in this matter and your participation in the ASA.

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Member Spotlight: Jack P. Friedman’s Dictionary of Real Estate Terms

Editor’s Note: The American Society of Appraisers is an organization of close to 5,000 respected, professional appraisers, many of whom are distinguished in their fields for their proficiency, knowledge and expertise. ASA is honored to have extraordinary members one of which is Dr. Jack P. Friedman, ASA. Dr. Friedman has written and co-authored more than 200 scholarly articles and more than 20 books, many of which have been published by Prentice-Hall, John Wiley, Warren Gorham & Lamont, MacMillian Free Press, Reston, and Barron’s Educational Series. ASA sat down with Dr. Friedman to talk about the ninth edition of Dictionary of Real Estate Terms which he co-authored.

Jack P. Friedman, ASA

Q: How much research went into sculpting this edition and what type of research did you do?
A: A very significant amount of research went into sculpting this edition. In the five years since the previous edition was prepared, my co-authors and I have continuously collected newly coined terms from reading journal articles, newspapers, and various real estate web sites, publications, and consulting experiences. We step up our efforts in the year leading up to the preparation of the new edition.

We consider matters from A to Z: Appraisal to Zoning.

New laws and regulations cause constant changes, especially in appraisal, financial regulation (lending laws), Fair Housing, environmental regulation, eminent domain, property development or construction standards, taxation, and land use regulation. Real estate finance is constantly changing in areas such as the availability of loan types, down payments, interest and principal repayment arrangements, Reg Z regulations.

We reviewed each and every existing definition for completeness, accuracy, and changing use. We add important new organizations, both government agencies and private associations that were in the previous edition. We updated name changes, mission changes, publication names, and contact information.

Q: What is the most difficult part when adding new terms?
A: When adding new terms, the most difficult part is synthesizing the matter into few words that are readily understandable, without losing accuracy. For example, new government legislation might be written in hundreds of pages of “legalize” which we must try to consolidate or synthesize into a brief and easily understood explanation, with a clear example. We also try to see whether our draft definition might be misunderstood, and make efforts to avoid that.

Q: What challenges did you face when gathering information?
A: Challenges we face when gathering information include verification and support. We use the primary document as a major source. If secondary sources must be used, we must determine their reliability and accuracy. To avoid plagiarism, we put aside reference materials and write definitions in our own words. Where appropriate, we write easily understood explanations with conviction.

Q: How has publishing your first edition change your process of writing the current edition?
A: The first edition, released in 1984, had approximately 2,000 terms, nearly all of which were defined and explained simply. The language of real estate has expanded considerably. New terms have been introduced, and old terms can take on additional or revised meanings.

Our book has several hundred cross-references. When we add a new term or drop one that has become obsolete, the cross references can change. We must be alert to new cross references when appropriate, and delete cross references when they no longer apply.

As time and editions passed, we have become better writers Jack Harris and I have co-authored several books. We try to get ahead of deadlines to deliver the revised manuscript ahead of schedule. This improves the quality because we are not rushed or scrambling to finish on deadline. We are goal oriented and we know what is needed to finish the job.

Q: What’s next for you? What are you working on now?
A: Every new edition of the Dictionary of Real Estate Terms has been followed by a new edition of the Real Estate Handbook. That is a hard bound book which includes the entire dictionary plus additional materials. It includes a Home Buyers Guide, Home Seller’s Guide, How to Analyze Investment Opportunities, Careers in Real Estate, Federal Regulations, Guide to Appraisal Review, Real Estate Web Sites, and financial tables for mortgage payments and amortization balances. A revised edition of that will be next.

Q: Finally, if you could pass on a single piece of advice to authors out there reading this interview, what would it be?
A: The best advice to potential authors is to think of a topic that you do very well and can explain clearly. Writing on a subject that you understand will come much easier than writing on a subject that you must learn.

About Interviewee:
Dr. Jack P. Friedman, ASA is a State Certified General Appraiser with licenses in Illinois, Texas, Florida, Georgia and Kentucky. He holds the MAI, SRA and SREA designations from the Appraisal Institute; and the ASA from the American Society of Appraisers. He is a Counselor of Real Estate (CRE) awarded by the American Society of Real Estate Counselors, and a stockholder of the Real Estate Consulting Group of America. He is a Weimer Fellow in the Homer Hoyt Institute. He has been licensed as a real estate broker in Texas for more than 40 years.

 

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ASA News Spotlight: ASA – NAIFA Proposed Merger

Editor’s Note: The American Society of Appraisers (ASA), the original multidisciplinary valuation society, and the National Association of Independent Fee Appraisers (NAIFA), the leading voice for independent professional real estate appraisers, have announced that they have reached an agreement to move forward with a Memorandum of Understanding leading to the merger of NAIFA into ASA. The merger will add to ASA’s nearly 5,000 multidiscipline credentialed valuation professionals in over 75 countries and 63 chapters throughout the world, creating one of the largest networks of U.S. professional real estate appraisers. Voting will take place during ASA’s Joint International Conferences in Houston, Texas and a proxy vote will be sent via email to all eligible ASA voters. ASA sat down with ASA’s Real Property Discipline Committee Chair, Paul D. Roberts, ASA, to further discuss this potential merger.

Paul D. Roberts, ASA

Q: What are some of the anticipated benefits if NAIFA and ASA would merge?
A: NAIFA and ASA already work closely together and there is strength in numbers. The two associations will complement each other and provide combined resources to ensure that the resulting merged organization and the reconstituted ASA Real Property – NAIFA Committee will operate at the highest level to provide maximum benefits to members. With the merger, the group will have a larger, more unified voice, expanded influence in the profession and the reputation of one of the oldest appraisal organizations in the country. There will be an increase in education benefits, an opportunity for additional designations through ASA and more resources to help members diversify their business.

Q: What will happen to NAIFA if there is a merger of our organizations?
A: NAIFA will become part of ASA under the ASA Real Property discipline. ASA will agree to rename its discipline committee from the ASA Real Property Committee to the ASA Real Property – NAIFA Committee. NAIFA memberships will be transferred to memberships in ASA. Dues renewal invoices will be sent to members by ASA on the same schedule NAIFA adhered to in the past. A full explanation of the transfer of membership categories and the dues schedule is available as a separate document (addendum to the MOU).

Q: What will happen to local NAIFA chapters if the merger is approved?
A: Local NAIFA chapters will be merged with the local ASA chapter in close geographical proximity. If a corresponding ASA chapter does not exist, the NAIFA local chapter members could form an ASA chapter or would be eligible to join the ASA International Virtual Chapter. Members may join more than one ASA chapter.

Q: How will the decision to merge with ASA be made?
A: The NAIFA Board of Directors and the ASA Board of Directors voted to approve a Memorandum of Understanding (MOU) at their meetings on April 1, 2017 and April 18, 2017, respectively. A formal Agreement to merge will be presented to the membership for review prior to the final votes in October. NAIFA Designated members will vote by paper ballot, and the results will be presented at the membership meeting held during the Annual Conference.

Q: What happens if the merger does not work out? Is there any provision in the merger agreement to rescind?
A: There will be a clause in the Agreement that allows for a dissolution of the merger within three years of the effective date of the merger, by a vote of 2/3 of the 2017 NAIFA Board of Directors (the Board in place at the effective date of the merger vote). Following a vote to approve dissolution and after a new appraisal organization is formed, there will be a transfer of ownership of the NAIFA Designations, NAIFA Marks, NAIFA Domain Names, and Real Property-NAIFA Committee Web site content to the new association; as well as a transfer of funds in the amount of NAIFA’s reserves as of the date of the merger (July 1, 2018).

Q: Who can I contact for more information regarding the merger?
A: You may contact ASA’s Senior Director of Government Relations & Chief Lobbyist, John Russell, at mergerinfo@appraisers.org or call ASA at (800) 272-8258.

About Interviewee:
Paul D. Roberts, ASA, is Senior Vice President of International Appraisal Company in Upper Saddle River, New Jersey. He has been active in the appraisal and property tax fields for over 40 years. He is an Accredited Senior Appraiser (ASA), Real Property discipline, in the American Society of Appraisers, a Certified Tax Assessor (CTA) in New Jersey, a General Certified Appraiser in New Jersey, and is qualified as an appraisal expert before many appeal boards and state tax commissions in the United States. He graduated Magna Cum Laude from Fairleigh Dickinson University with a Bachelor of Science Degree in Accounting.

 

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ASA Visits the Sunshine State for NALA Paralegal Conference

Listing of exhibitors at the NALA Conference

On July 19-21, 2017, ASA attended the nation’s largest gathering of paralegals at the 2017 NALA Conference & Expo in Orlando, Florida. Providing a rich selection of industry experts and concurrent sessions, this conference tailored to the needs of both attendees and exhibitors. ASA was represented by Jennifer Aguilar, ASA’s Marketing and Communications Assistant.

Filled with buzz and excitement, attendees gathered in the exhibit hall to view the variety of services and goods that were offered. Our volunteer spent most of her time emphasizing the need for qualified appraisers, what to look for when choosing an appraiser, the benefits of using an ASA designated appraiser, and how to use ASA’s Find An Appraiser tool.

Jennifer Aguilar explaining the Find An Appraiser tool

Intrigued by the material given, several attendees requested more information on ASA membership. Participates were delighted to hear the benefits of becoming an ASA member, promising to forwarded the information to associates they knew. The main attraction, however, was ASA’s “freebies” of pens, jotter notebooks, and pencil and pen set. Various attendees applauded the uniqueness of the items and were pleased to hear ASA’s awareness of Eco-friendly items.

For more information on the Find An Appraiser tool, visit ASA Online.

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ASA’s Educational World Tour

The American Society of Appraisers’ highly demanded onsite courseshave been held in various locations in the past few months. This convenient and cost effective program provides a unique educational experience that can be customized to meet the organization’s individual need. Onsite courses were held for Duff & Phelps, LLC in New York City, USA; the Japanese Society of Independent Appraisers (JaSIA) in Tokyo, Japan; Ernst & Young CIS, Ltd. in Moscow, Russia; and the Dominion Group in West Melbourne, Australia. Participates had the pleasure of absorbing new content instructed by knowledgeable ASA instructors. These instructors were Nigel Wilson, ASA, Director for Insurance Services for Duff & Phelps, LLC; Leslie Miles Jr., FASA, valuation expert on both proper concept use and application theory; and Richard Berkemeier, ASA, the Society’s 2016 Machinery & Equipment Discipline Education Chair with more than 20 years of appraisal experience.

Each location were given the opportunity to hold one or two of ASA’s Principals of Valuation for the Machinery & Technical Specialties division. These courses included ME201-OOO – Introduction to Machinery and Equipment Valuation, ME202-OOO – Machinery and Equipment Valuation Methodology, ME203-OOO – Advanced Topics and Case Studies, and ME204-OOO – Machinery and Equipment Valuation – Advanced Topics and Report Writing. Participants of the program were extremely happy and impressed with the advanced information and the way it was presented. The course material held new and very important additional information and training that students had not been exposed to. The order and content of these courses is well set out and is much of the reason why ASA education is in demand. The order and content of these courses is well organized which is why ASA education is in demand.

For more information, visit ASA online or contact us at (800) 272-8258.

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Course Sneak Peek— ME214

Get ready to gain an advanced level of confidence when inspecting mine and mill operations with ASA’s Identification and Appraisal of Mining and Mineral Processing Equipment (ME214) course being held on September 13-15, 2017 in Tucson, Arizona.

This advanced class is designed for appraisers who specialize in the mining industry and professionals looking to learn more about this unique specialty. Participants will look at the various types of mining and learn how to assess and value mining and milling equipment. Instructor lead discussions will focus on the different types of mines students may encounter as well as the various mining processes used in the field. Key topics and discussions points will include extraction techniques and methods; what makes up a mine, both underground and above ground; what equipment to expect on each type of property; identifying specific equipment, functions, and values; and hard rock mineral processing and coal preparation equipment.

Special tours to ASARCO Mission Open Pit Mine and Mill, ASARCO Mission Discovery Center, and Prima Air and Space Museum have been scheduled and students will be able to earn 30 hours of continuing education credits.

Course instruction will be provided by Alan C. Iannacito, FASA, a designated member of the Society for more than 38 years and Allan K. Bowles, PE, Mining Engineer, both of whom are principals of Littleton, Co based ACI Associates, Inc.

To view brochure, click here.

To read the latest issue of the Mining Industry Insight (Spring 2017), click here.

To visit the primary source for mining and mineral processing equipment values, click here.

To gain access to Alan C. Iannacito, FASA article on “Coal is King No Longer” from the MTS Journal, contact ASA Info.

To register or for complete course details visit ASA online or call (800) 272-8258.

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2017 Personal Property Summer Camp Recap

72 purchaseFor the fifth year running, the Personal Property discipline of the American Society of Appraisers partnered again this summer with Purchase College, SUNY, to offer an accelerated education program for appraisers that was held on June 3-18, 2017. This intensive “Summer Camp” enabled students to earn their Purchase College Certificate in Appraisal Studies in just over two weeks. The program is designed to provide participants with the foundation needed to be professional Personal Property appraisers.

The 2017 Summer Appraisal Camp included all four core Principle of Valuation (POV) courses that ASA-designated appraisers must complete: Introduction to Personal Property Valuation (PG201), Development of a Personal Property Appraisal: Research & Analysis (PP202), Communication of a Personal Property Appraisal: Report Writing (PP203), and Personal Property Valuation: The Legal & Regulatory Environment (PG204) taught by knowledgeable Personal Property instructors Edie Yeomans, FASA, Fran Zeman, FASA, and Sandra Tropper, ASA. These four courses of the program are the first step to becoming an ASA accredited appraiser.

What attendees had to say:

“As someone abut to re-enter the work force, Edie gave me the confidence that my work will contribute to my ability to succeed as an appraiser.”

“Fran was terrific! She was very knowledgeable, professional, and pleasant. We were lucky to learn from her.”

“Sandie was an excellent instructor, extremely knowledgeable, candid, helpful and very responsive to the different levels of experience.”

The Summer Camp at SUNY Purchase is just one example of the high-quality, professional-level education that ASA provides. If you missed this year’s Summer Camp opportunity, ASA offers Introduction to Personal Property Valuation (PG201), the first of the Personal Property POV courses, in an OnDemand format. Communication of a Personal Property Appraisal: Report Writing (PP203) will be offered at the Massachusetts College of Art and Design (MassArt) on September 14-17, 2017 in Boston, Massachusetts. Personal Property Valuation – The Legal and Regulatory Environment (PG204) will also be held at MassArt on October 26-29, 2017.

A rare offering of the Personal Property Appraisal Report Writing Update course (PP445) will take place at the Hilton Americas in Houston, Texas, on October 5, 2017, prior to the 2017 International Appraisers Conference (October 7-10, 2017, same location).

To read more about ASA Personal Property Education or to sign up for upcoming courses, be sure to click here.

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ASA Department Profile Series: Marketing and Communications

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From left to right: Todd Paradis, Alison Ho, and Jennifer Aguilar

Every month the American Society of Appraisers (ASA) regularly connects with more than a million individuals around the world, including ASA members, allied professionals, referral sources, government officials, news media and consumers. Interacting on such a large scale is possible due to a variety of technology-driven marketing mediums, including online advertising, e-mail, public relations, social media, blog postings, e-news, promotional videos and website.

Helping to ensure a consistent and accurate message and universal brand falls under the responsibility of ASA’s Marketing and Communications Department. Each month the department generally produces 100 unique e-blasts and sends nearly three-quarters of a million messages to ASA members and prospects; publishes over 200 posts to the Society’s social media channels (Twitter/Facebook/LinkedIn); as well as publishes news releases, announcements and blog posts; coordinate exhibition at national conferences; supports membership development and national/local chapter educational course and event registration; and provides website development and updates.

The department is currently comprised of three people: Todd Paradis, Alison Ho and Jennifer Aguilar.

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Todd Paradis outlining marketing goals for the month

Todd Paradis, Director of Marketing and Communications, is responsible for the management and implementation of ASA’s marketing and communications program, as well as overseeing department staff, supporting discipline marketing committee volunteers and managing the media relations program. He also serves as staff liaison to the Machinery & Technical Specialties Discipline Committee. His dedication and commitment were recognized in 2014 with the bestowing of the Society’s Sylvia Wade Olson Award, given to employees demonstrating outstanding and invaluable service. Todd has been with the Society for five years. His educational background, technical skills and 26 years of work experience provide him with a unique and in-depth expertise necessary to successfully lead and operate in a fast-pace, ever-developing environment. He has a Bachelor of Science degree in Communications with an emphasis in Graphic Design and a minor in Marketing from Washington Adventist University, a Master of Science degree in Marketing from Johns Hopkins University and advanced strategic marketing training from The Wharton School. Prior to ASA Todd worked as a director of marketing communications for Maple Life Financial, a marketing manager for the National Glass Association and as an adjunct print/web publication design professor for Washington Adventist University. Todd may be reached at (703) 733-2124 or tparadis@appraisers.org.

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Alison Ho generating new ideas for email content

Alison Ho, Marketing and Communications Coordinator, coordinates ASA’s e-blast marketing efforts, public relations efforts, discipline event marketing efforts and the production of ASA’s monthly newsletter. She has been with ASA for nearly three years. Alison’s educational background provides her with a special and unique understanding of complex and diverse consumer behavior, while her research and analysis skills enhance ASA’s data collection and reporting capabilities. She has a Bachelor of Science degree in Sociology from Virginia Tech where she graduated with honors. Prior to ASA, Alison participated in multiple academic program related internships while completing her degree. Alison may be reached at (703) 733-2119 or alisonho@appraisers.org.

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Jennifer Aguilar preparing shipment for upcoming trade show

Jennifer Aguilar, Marketing and Communications Assistant, is responsible for the daily administrative tasks to ensure the functionality and coordination of the department’s activities. She provides assistance with ASA’s social media efforts, public relations efforts, chapter event marketing, list development and project management support. Jennifer has been with the Society for nearly two years. Her proven ability to build and maintain vendor relationships has helped ASA explore new resources that are available. She has a Bachelor of Arts degree in Business Administration with a concentration in Marketing from Marymount University. Prior to ASA, Jennifer served as a sales assistant and guest representative at the Hilton Garden Inn where she provided high quality service and paid close attention to guest satisfaction. Jennifer can be reached at (703) 733-2120 or jaguilar@appraisers.org.

Together, these individuals work to meet the marketing and communication needs of the society.

View other ASA Department Profiles: Accreditation & Reaccreditation, Education, Membership and Information Technology.

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ASA Visits the Windy City for NACVA Conference

Chicago2017The American Society of Appraisers participated in the 26th Annual Consultants’ Conference on June 7-10, 2017 at the Swissotel Chicago in Chicago, IL.

This annual event, hosted by the National Association of Certified Valuators and Analysts, featured compelling speakers highlighting important topics. Speakers and topics included Carl A. Steffen, ASA with Industry Standards Update; Roger J. Grabowski, FASA with Capital Cost— Current Controversies and New Research; Robert J. Grossman, ASA with “Double Dip” Bringing Clarity to this Complex Issue and Daubert Update; D. Michael Costello, ASA with Reasonable Certainty Requirements in Lost Profits Litigation; Peter J. Butler, ASA with Who Cares if You Have the Alleged and Dubious Size Premium “Right”—It’s the Total Cost of Equity that Matters; Neil J. Beaton, ASA with Valuing Things You Cannot See; Jason Ruchaber, ASA with Nuances in the Valuation of Service Line Joint Ventures; Darrell D. Dorell, ASA with Financial Statements—Written Confessions; Bruce A. Johnson, ASA with Valuing Complex Family Limited Partnerships and LLCs; and Daniel L. McConaughy PhD, ASA with Valuation of Debt and Preferred Stock.

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Yeti cooler winner Harold L. Deiters III

ASA was represented by Chicago-based business valuation appraisers Dan Daitchman, ASA and Brian McCabe, ASA, Glen Ellyn-based business valuation appraiser Judy C. Moody, ASA, and ASA’s National Office Director of Membership Recruitment Angelica Sullivan. Our volunteers spent most of their time speaking to attendees on topics such as the need for qualified appraisers, the reasons why they should join ASA, and how ASA can help benefit them and their practice. ASA also held a raffle offering a grand prize of 1 Yeti cooler and 4 Yeti mugs. Harold L. Deiters III, Partner of the Firm at Baker Tilly Virchow Krause, LLP, was our grand prize winner. David S. De Jong, Timothy J. McPoland, Cheryl F. Shuffield, and Brian Pedner were the winners of our Yeti mugs.

The American Society of Appraisers would like to thank our volunteers for their time and efforts for representing our society.

For more information on ASA membership, Visit ASA Online or call us at (800) 272 -8258.

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IVS Advisory Forum: London Meeting

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Members of the IVS Advisory Forum Working Group

Jack Beckwith, ASA, ASA’s representative on the IVS Advisory Forum Working Group, participated in the June Meeting in London to review the Draft Paper on Adoption by mid-2020 of the International Valuation Standards.

Sir David Tweedie, Chairman of the IVSC’s Board, emphasized that the purpose and intent of adopting the 2017 Edition of Standards by all Valuation Professional Organizations is to make the IVS the global standard. Those who participated, were eager to work with the IVS team in Great Britain which included countries such as Australia, Hong Kong, Russia, France, Canada, Slovenia, United States, and Spain. The adoption will includes the categories of IVS 101 Scope of Work, IVS 104 Basis of Value, and IVS 105 Valuation Approaches.

For more information regarding the new standards, visit ASA Online.

About Jack Beckwith, ASA:

Jack Beckwith, ASA

Jack Beckwith, ASA

Mr. Beckwith has performed and supervised valuations throughout the United States, Canada, Mexico, and Europe. He has published articles for various valuation topics in Equipment Finance Advisor, the M&TS Journal, and the ASA Professional.  In addition, Mr. Beckwith has been an instructor for the American Society of Appraisers teaching Principle of Valuation courses.  Honorariums include: ASA International Appraisal Conferences Presenter and ELFA Annual Conventions Presenter.  Mr. Beckwith can be reached at beckwith@eagi.com should you have any inquiries to this subject.

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