From the Appraisal Institute website:
In a November 6 vote, the Appraisal Institute Board of Directors voted not to pursue affiliation with the National Association of Realtors. The vote, which occurred during the Board’s fall meeting in San Antonio, Texas, follows year-long meetings between the organizations during which possible terms and conditions were discussed. In the end, though, the two organizations could not come to agreement on how best to proceed.
Over the past year, at the direction of the Board of Directors, an Appraisal Institute project team met many times with a project team from NAR to discuss the issues involved with affiliation, to identify the potential terms and conditions, and to determine the potential advantages and disadvantages. Also at the direction of the Board, members of the Appraisal Institute’s Executive Committee engaged in discussion and negotiation with NAR leadership. According to Appraisal Institute President R. Wayne Pugh, MAI, the Board considered the proposed terms and conditions of affiliation with NAR that resulted from these discussions and negotiations and determined that based on all the information presented, it is in the best interest of the Appraisal Institute for the Appraisal Institute and NAR to remain as separate, unaffiliated organizations.
“We wish NAR well and will look forward to cooperating (with them) on issues of common interest in the future,” Pugh said.
In a November 7 letter to the membership, Pugh thanked NAR and its President Dick Gaylord for “reaching out to the Appraisal Institute to explore affiliation.” He also thanked the Appraisal Institute membership for their “input and support” during the process.
For one AI/NAR members opinion on this action, click here.