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.