Dear Readers,

The recent tragedies plaguing the country calls to mind the need for eliminating
bias judgements. And such a notion has drawn the attention of the presidents from
the Appraisal Institute (AI) and The Appraisal Foundation (TAF).

TAF President Dave Bunton spelled out specific new initiatives to increase
diversity and combat bias in the appraisal profession in an article he wrote titled
“Combating Discrimination in the Appraisal Profession.”

“There is no place for discrimination in the appraisal profession,” Bunton wrote.
“This has been the goal since The Appraisal Foundation began writing national
standards for real estate appraisers more than 30 years ago. But recent tragedies
across our nation have highlighted how much more work we need to do to combat
systematic racism in the United States, and that extends to the housing industry.”

Valuation Review will have more from Bunton on this matter in a future story.
Earlier, we shared some thoughts from AI President Jefferson L. Sherman.
“Regarding alleged bias in valuation, professional appraisers have a huge stake in
ensuring that bias does not enter into appraisals, because at the end of the day, we
sell credibility. Frankly, bias is our adversary, regardless of what form it takes,”
Sherman said.

TAF notes, along with raising awareness about bias, the organization is taking
action to underscore that appraising without bias is a core tenant of appraisal
standards. The modification of educational requirements can be a big step in
correcting this problem of society, and in real estate, TAF said. AI says “appraisers
adhere to a strict set of rules at the federal and state levels, with racial or any
discrimination strictly prohibited and subject to penalty. The appraiser’s role is
unbiased and serves to protect consumers and financial institutions.”

Diversification is another way to combat bias, and both organizations are proactive
in that regard establishing programs to promote more diversity in the profession.
The common denominator, though, to bring about change regarding any issue
is positive dialogue. AI and TAF are providing such conversations with others,
hopefully, following suit. Drop me a line about topics of interest to you. Stay
healthy and safe.

Your valued editor,
Mike Holzheimer
Editor
Valuation Review