Agenda Summary
National Association of REALTORS®
2012 REALTOR® Conference
Rosen Centre
Salon 9 & 10, Level Two
Friday, November 9, 2012
1 p.m. – 3 p.m.
Chair: Jonathan M. Hall, ALC, CRS, GAA, GRI (OH)
Vice Chair: Susan Martins-Phipps, e-PRO, GRI, SFR (RI)
Committee Liaison: H. Blaine Walker, CRB, GRI (UT)
Committee Executive: Heidi Henning (IL) and Sarah Young (DC)
Purpose: 1. Evaluate, monitor, and analyze trends as they relate to real property valuation.
2. Make policy recommendations as they relate to real property valuation models.
3. Provide recommendations on valuation-related issues to the Board of Directors, via the PPCC.
4. Monitor and respond to new government regulations and legislation such as Dodd-Frank and to actions by The Appraisal Foundation, Appraisal Standards Board, Appraisal Qualifications Board, and Appraisal Practices Board and other organizations and entities that might have jurisdiction over or impact on valuation-related issues.
Ownership Disclosure and Conflict of Interest Policy
1. Call to Order and Introductions – Jonathan Hall
2. Approval of May 2012 Meeting Minutes – Jonathan Hall
A. May 2012 Meeting Minutes
3. BPO Standards and Guidelines Work Group Update – Jonathan Hall, Work Group Chair
4. Election Results: Legislative/Regulatory Forecast – Joe Ventrone
5. REALTORS® Property Resource® (RPR™) Update – Marty Frame & Jeff Young
6. The Appraisal Foundation Reports
A. The Appraisal Foundation Advisory Council (TAFAC) – Dick Koestner
B. Board of Trustees – Vic Knight
7. UAD Data Fields and RETS – Susan Martins-Phipps
8. Accurate Count on Number of REALTOR® Appraisers – Susan Martins-Phipps
9. Valuation Forum Proposal for Midyear/Annual Meetings – Susan Martins-Phipps
A. Proposal: To create a Valuation Forum
Reporting Group: This Forum will provide any feedback to the Real Property Valuation Committee.
Proposed Purpose: To provide members with information on appraisals, broker price opinions,
comparative market analyses, and automated valuation models. Generate broad member input and
feedback to the Real Property Valuation Committee.
Proposed Composition: Open
Proposed Terms of Service: N/A
Proposed Qualifications: Open
Staff Executive: Heidi Henning (IL) and Sarah Young (DC)
Rationale:
• Appraisals are an increasingly important topic for our members in the current real estate
business climate. Members are responsive to practical advice in dealing with appraisal
issues.
• With the increased use of non-appraisal valuation products (BPOs, CMAs, AVMs), this Forum
would help members stay on top of trends and issues. An estimated 10 million BPOS are
performed annually.
Proposed Meeting Times:
• Midyear Legislative Meetings
• REALTORS® Conference & Expo
Approval: Current Real Property Valuation Committee leadership and members support the proposed
creation of the Valuation Forum.
10. GAA/RAA Designations – Susan Martins-Phipps
11. 2013 Committee Goals – Susan Martins-Phipps
A. 2013 Real Property Valuation Committee Goals
12. New Business – Jonathan Hall
A. 2012 RPAC Committee Challenge Update
B. Next Meeting: Wednesday, May 15, 2013, 8:00-10:00am, Washington, DC
