The 2022 AI Leadership and Development Conference (LDAC) was held May 18-20 this year and NCAI had three that attended: Mike Elwell, Greyson Morgan, and Peter Hitchens. Greyson and Peter were first years and had the benefit of Mike Elwell who attended before the pandemic.
LDACstarted with a presentation from Melody Taylor regarding the recently published Property Appraisal and Valuation Equity Task Force (PAVE) Report. While AI suggests the data should be reviewed more, the overall report helps to educate stakeholders about the appraisal process.
(Left to right) Peter Hitchens, SRA, Mike Elwell, MAI, SRA, Greyson Morgan, MAI
Session 1: Where can we find the best candidates for our industry? Recruitment/Retention
This session focused on where AI can be most productive in connecting with the appraiser of tomorrow. Ideas include having AI focus on the types of skills necessary for the industry and then focus on college degrees where these skills are taught. Ideas included engineers, architects, military, and social sciences.
Some students in these degrees may not be aware of the appraisal industry and may find it interesting. Another idea was to continue to support partnerships with local community colleges and universities to set up degrees focused on real estate appraisal and support classes in obtaining required state-approved appraisal trainee license education. Time was spent on how to recruit new employees. The future session will be needed to consider how to keep Certified appraisers from leaving the training offices for their own pursuits in appraising. A few solutions that were brought to the table during the group discussion was the creation of supervisor training courses that would focus on consistent and effective supervising skills. We are all hopeful that PAREA will provide these needs upon implementation.
Session 2: Incorporating technology into our industry?
This session focused on the need to get the appraisal industry to adopt new technologies faster. Some ideas from this session included having AI support online videos with appraisers talking about new technologies and rating their effectiveness in the field. Technology also allows both commercial and residential appraisers to utilize cost-effective data entry and other labor sources from other countries through the internet. Another solution that everyone seemed to be in agreeance with was the creation or expansion of podcasts and videos provided by AI that would be made free to Designated Members or Candidates for Designation which would focus on items we use every day such as cap rates and DCF. We feel that we could provide a more “real world” application of these tools through the podcasts and videos.
Session 3: How do we bring diversity, equity, and inclusion to our industry?
This session focused on how AI can continue to promote diversity in the industry by utilizing the current Appraiser Diversity Initiative (ADI) An idea that was promoted was connecting with HBCUs to promote course work in appraising and developing college education tracts that help lead candidates to potential jobs. Promoting and tailoring the PAREA system, one of which will be provided by AI, will go a long way toward opening the doors for more minority participation in the appraisal profession. AI should pursue hiring a diversity director at the national level. Attendees concluded that AI is already making large strides towards this effort as evidenced by the diverse group in attendance at this year’s LDAC.
Session 4: What are the Most Valuable Services/Benefits of AI? What could be added?
In this discussion group, we discussed setting higher standards, requiring superior educational requirements for membership, promoting networking with similar professionals in our industry, promoting distinction of SRA and MAI designations vs other non-designated residential or general licensure (differences in quality of service and professionalism). Several of the discussion sessions overlapped as the attendees and discussion leaders realized that several of the benefits, recruitment, and diversity inclusion can be obtained through technology. The major consensus was university and community college outreach initiatives and committees must be expanded. Furthermore, AI must begin utilizing social media in a more proactive manner. Also, a committee or individual tasked with solely social media may be needed. We also all felt that a podcast provided to membership would be a great resource. This could be expanded into videos on YouTube, Facebook, or Instagram.
Lobbying:
The NC group lobbied Senators Burr and Tillis to support the Portal for Appraisal Licensing Act (PAL Act), which will coordinate the state licensing functions through a common platform or “portal” similar to the one utilized by the Nationwide Mortgage Licensing System used by mortgage originators. A house bill is already working its way through on this issue (HB 5756). Representatives for Congressmember Alma Adams (District 12) and Congressmember Greg Murphy (District 3) were available for meetings on Thursday afternoon and appeared receptive to the main points discussed regarding HB 5756.
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Meeting with Mr. Sam Lupas, an aide to Senator Thom Tillis (l to r) Peter Hitchens, SRA, Mike Elwell, MAI, SRA, Maria Nucci, SRA, AI-RRS (NC appraiser for the day), Greyson Morgan, MAI, Sam Lupas. |
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Meeting with Mr. Grayson Overholt, an aide to Senator Richard Burr (l to r) Mike Elwell, MAI, SRA, Grayson Overholt, Peter Hitchens, SRA |
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Meeting with Gordon Holzberg aide to Representative Alma Adams (l to r) Gordon Holzberg, Peter Hitchens, SRA, Mike Elwell, MAI, SRA, Greyson Morgan, MAI, SRA |