Exploring ASA’s New Discipline-Specific ARM Specialty Designation: Opening the Door to Expanded Income Opportunities
Editor’s Note: ASA recently sat down with ARM course developer and instructor, Jack Young to gain insight into ARM’s new discipline-specific specialty designation program and the newly updated courses.
[ASA] Tell us more about ASA’s new discipline-specific ARM specialty designation program?
[Mr. Young] ASA members can now add an ARM sepciatly designation to their existing ASA designation. Best of all, members can easily use their required reaccreditation CE hours to get this specialty designation that will add real value to your appraisal practice.
[ASA] What are the program’s requirements?
[Mr. Young] Members just need to take ARM 201-overview and ARM 204-application courses, pass the exams and turn in a demonstration report and application. Upon approval of the demonstration report you will be accredited for ARM in your existing discipline(s).
[ASA] Why should non-review appraisers consider adding an ARM specialty designation?
[Mr. Young] An ASA ARM specialty designation could lead to expanded income opportunities for litigation, loan underwriting, insurance losses, family law matters and many other areas. Past attendees of ARM classes overwhelmingly agree at the very least, the classes helped them understand the process of how their report may be reviewed, resulting in their producing better appraisal reports.
[ASA] What updates have been made to the ASA ARM courses?
[Mr. Young] The ASA ARM courses have been redeveloped and formatted to be taught in a “dialogue education style” that honors the knowledge and experience of the attendees, incorporating their professional contributions into the curriculum. Students have enthusiastically reported that dialogue with other appraisers in ARM classes has resulted in some of the best appraisal education that they’ve ever received.
[ASA] Can you tell us more about the Program’s two courses?
[Mr. Young] The ARM 201 Appraisal Review and Management Overview course, focuses on review of basic appraisal terms, uses of the ARM designation, how to avoid defamation, discussion of USPAP standard 3, logical fallacies, and review of other appraisal standards (IVS, SSVS, etc). In-class exercises guide you in constructing clear and concise arguments to support your findings while avoiding defamation. Students will review several reports for specific issues including scope of work, ethics, competency, and logic. Students also share their findings with the class creating a rich and valuable dialogue with fellow appraisers.
The ARM-204 Appraisal Review and Management Application course, is basically a hands-on appraisal review report writing class. Students bring reports to review (typically not their own) which will become the work under review for their demonstration report. The topics covered in ARM 201 will be discussed in great detail, while students review the reports under review and begin to prepare their demonstration report. Students share their findings and how they have specifically worded their argument in support of their findings in an objective way that does not leave the reviewer open to allegations of defamation. Students find great value in the discussion focused on specific findings in the reports they have brought into class. By the end of the class, each student will have the practical application knowledge of appraisal review and review report writing, including most of the components needed to assemble their demonstration report for submission for advancement. Appraisal management topics of record keeping, working with other appraisers and report signing are also covered.
Both classes are three days long with the exam on the fourth day. Courses will need to be taken sequentially.
[ASA] Where can ASA members find out more about the new discipline-specific ARM specialty designation program and classes?
[Mr. Young] Interested members should visit ASA Online or contact an ARM accreditation specialist at (800) 272-8258 or email@example.com. Upcoming ASA ARM classes are listed in the Society’s National Class Schedule.
Jack Young, ASA, CPA, is a machinery and equipment appraiser with NorCal Valuation. Inc. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers (ASA) with a designation in Machinery and Technical Specialties as well as an Appraisal Review & Management designation in the MTS specialty. Jack is an active member in the American Society of Appraisers, currently serving on the International Appraisal Review & Management Committee and also active in the local chapter, having served as Chapter President and currently serving on the Board of Directors.