President's Letter - Farewell

Dear fellow members of NCAI:

It is with mixed emotions that I submit to you this fourth and final President’s Report. As my tenure as President comes to a close, I am excited to begin the next chapter in my life, but at the same time melancholic that my term has to end. While not without its challenges, my time on the Executive Committee was among the most rewarding experiences of my life, both personally and professionally, because of members like you. I want to extend my sincere gratitude to the North Carolina Chapter for entrusting me with the great honor and privilege to serve what I believe is by far the best Chapter in the Appraisal Institute.

Looking back, I am especially heartened by the great memories and lifetime friendships that I have made. I am particularly proud of the accomplishments the Chapter made over the past few years, and I am encouraged by the visionary leadership of those who will follow.   

I have had the great fortune of being surrounded by extraordinary people: Members of the Executive Committee, Board of Directors, and the various Committee Chairs that make up Chapter leadership. With all due respect for those that came before us, this particular generation has been faced with tremendous challenges that strike at the very core of our sustainability as a Chapter. Yet given the circumstances, we were able to accomplish many things. Referenced below is a synopsis of accomplishments and changes made in 2018:

  • NCAI partnered with THM, a well-known and highly-respected management firm with the marketing savvy and staffing to improve every function of Chapter operations.
  • We rolled out a new website and revamped our social media platforms for enhanced visibility.
  • NCAI was among the first chapters in the country to volunteer for the new CFMAP accounting program. Every Chapter in the organization is eventually going to be a mandatory participant, so North Carolina is way ahead of the curve, which underscores our well-deserved reputation as a visionary and progressive-thinking Chapter. The CFMAP program has greatly improved the efficiency, transparency, and access to our financial operations and management.
  • We established a new Scholarship Committee dedicated to serve the financial needs of our members and candidates, replete with pragmatic guidelines to help better identify prospective scholarship recipients. The complete redesign of the Scholarship Program has provided for greater transparency and accountability of scholarship monies, which were contributed by hard-working members in good faith that they would be used for their intended purpose, and that NCAI would be good stewards of that money on behalf of both donors and recipients.
  • Pursuant to the Scholarship Program, we committed the funds to National’s Pooled Reserve Fund, which will greatly enhance our investment potential and maximize our return by pooling with other investors from all over the country.
  • We completely reinvented the Chapter Business Meeting, after years of unofficial poling indicated that most members believed the existing format to be stale and unimaginative. Doing so has reemphasized the rich social and cultural aspects of the quarterly meetings, while still holding true to the bylaws and Rules of Order by advance distribution of Chapter reports and opportunity for open discussion among members.
  • Speaking of quarterly meetings, at Grandover (winter meeting) we offered free dinner to members and guests, which we believe is the first time in our Chapter’s history, or at least in the modern era. At The Stateview (spring meeting) in Raleigh we had a live band, which we also believe to be a first. This year served as a beta testing platform for improving and enhancing the quarterly meeting, both in format and spirit. Some ideas were more successful than others, but the most important thing is that the stage has been set for continuing to reimagine the quarterly meetings and “shake things up” for the benefit of our members.
  • We established a new travel policy to alleviate potential abuses, provide greater transparency, and set forth minimal guidelines.
  • We raised more PAC money than ever before, and contributed to more political campaigns than at any time in our history.
  • We received more sponsorship money than ever before, which helped defray costs for events like the REVC.
  • We assisted and participated with the NCDOT and NCAB in establishing new appraisal guidelines and clarifying existing provisions in state law. We met with the DOT staff and spoke at the NCAB in April, and also submitted written comments on key rules-making.
  • On behalf of the Chapter and with National’s blessing and endorsement, I authored a letter to the Chairman of the National Credit Union Administration, urging the NCUA to strongly reconsider the Proposed Rule on Real Estate Appraisals, including the proposal to increase the appraisal threshold level for non-residential loans to $1 million, and the potential adoption of the rural appraisal exemption provisioned in the Economic Growth, Regulatory Relief, and Consumer Protection Act.
  • For the first time ever, we offered the full suite of courses for one of AI’s Professional Development Program, in this case the Valuation of Sustainable Buildings, and more than doubled our presence on the professional development registry.
  • We held our first-ever Residential Roundtables event, from which we received very positive feedback.
  • In a year of many “firsts” we also invited members of competing appraisal organizations to a quarterly meeting for the first time in our Chapter’s history. The goal was to establish goodwill, improve upon potential political and legislative alliances, and maximize collegiality while minimizing the sometimes-tense past relations and perceptions among the various organizations. The feedback was extremely positive, from members of NCAI as well as the other organizations. More than one member remarked that it was “the best idea we’ve had.”
  • Lastly, we instituted the “Member First” mantra, an awareness campaign for maximizing and enhancing the member experience in all Chapter endeavors. The hope is to reach far beyond the catchphrase and to establish Member First as a legacy for future Chapter leaders.    

In summary, the accomplishments of NCAI were significant in 2018. But more so than any one or the sum of them all, I am most proud of the work done by our Executive Committee, which displayed the fortitude and wherewithal to face down the status quo; to make difficult decisions that were at times unpopular. This Committee took risks, sacrificed personal and professional time, and made changes that were necessary and sometimes unpleasant, all for the good of the entire Chapter. This Committee helped reshape, reimagine, and redefine NCAI, rather than repeating the mistakes of the past by simply following the old established template. This Committee, and I include Frank Leatherman (2017) and Claire Aufrance (2016) as past presidents who were very involved, took the necessary steps to ensure the sustainability of the Chapter in an ever-changing business, professional, and cultural environment so that Chapter leaders of the future will hopefully find a much easier path for success. My ultimate hope for the Chapter is that the good works of these people will not be in vain.

Looking forward, the Chapter is in great hands. Sheri, Chris, Mike, Greg, and Vanessa are all great leaders and will be fantastic Presidents. In the grand scheme of things, my contributions were rather minimal and I was fortunate to be surrounded by talented, dedicated people.

As I pass the baton to Sheri Colvin, I cannot imagine a more capable, prepared President. Sheri embodies the Member First mentality and has been instrumental in every one of the accomplishments noted above. As an organization, we must pledge our support to her and her fellow Officers, Board Members, and Committee Chairs as they lead us into the future.    

For my very small part, I want to thank you again for your support in 2018. It was a year of challenges and transition, but we stayed the course and made ourselves better. I wish you all the very best going forward.  


Joel G. Tate, SRA

2018 NCAI President

Share this post:

Comments on "President's Letter - Farewell"

Comments 0-5 of 0

Please login to comment