There are a few important questions all appraisers should consider.
- Are you current with the appraisal requirements?
- Are your appraisal reports and appraisal reviews a potential source for litigation?
- Are you aware of the potential liabilities the appraiser exposes his/herself to in doing an appraisal or appraisal review
- When asked to opine on another appraiser’s work product, are you not clear about how to organize or articulate your findings or are you concerned about avoiding issues related to defamation of character?
- When your appraisal work relies upon another appraiser’s work product what liabilities are you accepting?
- Are you aware of the increased litigation regarding appraisal work and do you ever worry that your appraisal reports might not stand up to the standards that appraisal reports are measured against or that you might be sued for negligence or gross negligence?
- Are you ready to expand your business and better protect your reputation?
- Are you up to speed on USPAP Review Standard requirements for proper way to review an appraisal?
- Could your own work product be improved by spending time analyzing the work product of others?
If you answered yes to at least one of these questions then ASA’s Appraisal Review and Management Overview course is a must to enhance your professional career and protect your professional reputation.
This course is centered on providing an in depth understanding of the appraisal standards that govern the practice of appraisal, this course will compare, contrast and interpret real property, personal property and business valuation standards including USPAP, IVS Standards, RICS, AICPA, IBA, AI, ASA, AMEA, ISA, AAA, IFA and other appraisal association’s standards. It also covers narrative appraisal report writing as an argument, the review paradigm and provides a hands-on review of approximately thirty (30) actual reports. The course is a mix of class lecture, discussion and practices appraisal review by using actual redacted appraisals for all disciplines.
Take a tip from Paul Golubovs, MBA, ASA. Paul, (whose ASA accreditations include four specialty designations in Personal Property, as well as accreditation in Appraisal Review and Management), credits ARM training with taking him “to the next level of professionalism” in his work, stating that he gained “a heightened awareness of the numerous types of errors which result in inaccurate analysis and invalid conclusions of value.”
Due to increased litigation over appraisal reports and appraisal reviews appraisal review is a growing concern in the appraisal industry. New legislation as well as the pressure from the regulators has created a large demand qualified appraisal reviewers with credentials and continues to grow. This is creating a need for qualified credentialed reviewers opening up a new or expanded field for individuals to fill. Don’t be left behind, seize the opportunity and become a credentialed reviewer with the skills required by taking the ARM Courses. Appraisal reviews are in demand for legal cases of all kinds, collateral loans, business deals, insurance settlements and marital dissolution. Reviewers are needed in every appraisal specialty, from the variety of personal property valuations to business valuation, real estate and machinery and equipment.
Appraisal review raises the bar on appraisal reports by providing professional, expert review of the appraiser’s qualifications, how well the report aligns with standards of appraisal practice, and whether or not the appraisal report itself makes logical sense to a trained professional. Without this training, even an ASA could be producing appraisal reports that would not pass a qualified appraisal review process. Arm yourself! Knowing what to look for and how to conduct effective appraisal reviews improves your own valuation and reporting skills, increasing your reputation and expertise.
As an Accredited Senior Appraiser, you can take Appraisal Review and Management to earn your ARM designation in your own discipline. These classes have been completely revised and are now taught using a dialogue education format, avoiding the usual slide/lecture system. Past students have declared the class a big hit, they have enjoyed the class interaction and project-based instruction more than the usual lecture mode and felt they had a better grasp of the material covered. To learn more about Appraisal Review and Management, visit the discipline’s website here.
Jack Young, ASA, instructor for NorCal’s ARM201 May 19-22, 2016 class.
The NorCal Chapter of ASA is hosting Appraisal Review & Management on May 19-22, 2016 in Oakland, CA. Instructor for the NorCal ARM class is Jack Young, ASA. Jack Young is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers specializing in Machinery and Equipment Appraisals (MTS) and Appraisal Review and Management (ARM). He is also a Certified Public Accountant. Jack reviewed hundreds of appraisals while auditing banks and other financial institutions at KPMG. Subsequent to KPMG, Jack was a financial analyst in the insurance and international micro-finance industries. Jack is an active member of the Northern California Chapter of the ASA, where he serves as Chapter Past President. Previous to accreditation he worked for many years as an auctioneer and auction manager of business assets and equipment. Jack received his B.S. Accountancy, Arizona State University. To register for this NorCal class or for more information click here.
Written by Jack Young, ASA.