There has been an ongoing feud between perhaps the 2 most important appraisal organizations – the Appraisal Institute and the Appraisal Foundation. The Institute has been publicly critical of the Foundation and resigned from the Foundation about 5 years ago. Now, the Foundation has responded very forcefully.
In an open letter to valuation professionals, the Foundation stated that “[r]ecent communications by the Appraisal Institute (the Institute) are calculated attempts to fracture the whole. This month marks the fifth anniversary of the Appraisal Institute’s decision to resign from The Appraisal Foundation, rather than face a suspension for violating the Foundation’s Code of Conduct for Sponsoring Organizations. Instead of coming together with their peers, working collaboratively, and respecting the opinions of others to further a common purpose, leaders of the Appraisal Institute aim to splinter the profession. This divide and conquer approach is short-sighted, damages the profession, and must stop.”
The Foundation then told its side of the story regarding efforts “to repair the relationship and solidify what has been collaboratively built over the last 28 years.” This included what it described as “Offering Olive Branches” including “three face-to-face meetings between the leadership of the Appraisal Institute and The Appraisal Foundation, none of which were initiated by the Institute.” The Foundation also accused the Institute of creating “a false narrative” and was critical of the Institute’s new “Standards of Valuation Practice.”
In conclusion the Foundation stated, “[t]he rift between The Appraisal Foundation, the Congressionally-authorized source of valuation standards and qualifications, and the Appraisal Institute, one of the nation’s largest appraiser trade associations, is a detriment to the profession and needs to be resolved.” Regardless of fault, that last statement is undeniably true and this “rift” needs to be resolved.