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.
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.