On January 1st, 2018 Jim Murrett began his term as the new president of the Appraisal Institute. We sat down with Jim to discuss the Appraisal Institute and what we can expect from their association and members under his leadership.
Buzz: Jim, congratulations on your election as president of the Appraisal Institute. Can you tell our readers a little bit about your background in the appraisal industry?
Murrett: Since 2009, I have served in management roles with Colliers International Valuation & Advisory Services. Currently, I am Executive Managing Director, Compliance & Quality Assurance, where I am responsible for the general oversight of appraisal quality for Colliers. Prior to my career with Colliers, I spent over 30 years with multiple financial institutions in various appraisal review and appraisal risk management positions, culminated by a stint as the corporate chief appraiser of Bank of America.
Buzz: What are your responsibilities as president of the Appraisal Institute?
Murrett: The Appraisal Institute President, who serves a one-year term, chairs the Executive Committee and the policy-making Board of Directors. I’ll also have the honor of representing the organization by attending and speaking at events across the country and around the world, in addition to visiting Appraisal Institute chapters, and conducting media interviews to promote the real estate valuation profession.
Buzz: Are there any changes this year for AI?
Murrett: The Appraisal Institute has big plans for another great year in 2018. We will continue to rely on our world-renowned body of knowledge to offer the profession’s best education, publications, and designations. We’ll be out front on legislative and regulatory issues affecting appraisers. And this year, our Annual Conference will be held July 30 through Aug. 1 in Nashville, Tennessee; registration will open this spring.
Buzz: What direction do you see the Appraisal Institute taking under your leadership?
Murrett: As the global valuation profession’s thought leader, this year the Appraisal Institute will focus on advancing the profession in four ways: seeking to modernize the appraiser regulatory structure; working to halt appraisal waivers; attracting new appraisers to the profession; and focusing on the needs of residential appraisers.
Buzz: Why should appraisers connect with the Appraisal Institute?
Murrett: As the nation’s largest professional association of real estate appraisers, the Appraisal Institute offers education, publications, and designations. We also provide advocacy on legislative and regulatory issues and offer networking at our local, regional and national events. And AI professionals receive valuable benefits, such as inclusion in the online Find an Appraiser database, access to the Y.T. and Louise Lum Library, use of an ethics and counseling hotline, and discounts on insurance.
Buzz: Is there anything that we missed that our readers should know about regarding the Appraisal Institute?
Murrett: In 2018, the Appraisal Institute plans to continue its leadership of the real estate valuation profession. We will continue to address the opportunities and challenges that our professionals and other appraisers face. And we will continue to serve the public trust.
Buzz: Thanks so much for taking the time to talk with us, Jim. We are looking forward to what 2018 has in store for the Appraisal Institute and their members.
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