The calendar year of 2019 is here and with it brings great opportunities for our chapter and its members. Our 2018 was very eventful and very successful with the national conference hosted in Nashville in July, the first ever Real Estate Symposium sold out in November, a wide variety of educational offerings, as well as a national award for the chapter's efforts in lobbying to protect the interests of the valuation profession. I fully expect the coming year to be equally challenging and rewarding for our chapter, its members, and the profession as a whole.
One such opportunity is coming up at our next chapter meeting in Oak Ridge on February 21, 2019. The Memphis Chapter has approached us with a proposal to merge. They are a much smaller chapter and their proposal requests that they merge with the Greater TN Chapter and form a branch chapter that will meet along with us and also still have local meetings twice a year. This proposal has been reviewed by an exploratory committee along with the GTC Board of Directors. Both groups unanimously approved the merger. You can find more information, along with the bullet points of their proposal, in an article below. Our chapter members will have the opportunity to vote on this merger at the February 21st meeting in Oak Ridge. If any of you have questions ahead of this meeting, please feel free to contact me, Myra, or anyone on the Greater TN Chapter Board of Directors. We would be pleased to answer your questions.
I would like to encourage each of you to take advantage of our chapter educational offerings that are second to none. We are the only chapter in the Appraisal Institute that has a policy of not cancelling classes once they are scheduled. The wide variety of qualifying education, continuing education, as well as, advanced classes for designation offer each of us the opportunity to advance our skills, provide a better product to our clients and advance the standing of our members in the valuation industry. Additionally, we have seminars that fill the needs voiced by our members. A reminder that our board of directors approved a $50 education voucher (Code: VTN19GR1) for our members that can be used to offset the cost of any one of our educational offerings during this year.
A common topic of discussion these days is the reduced number of appraisers in the industry. The average age of Appraisal Institute members today is over 60 with fewer new members being added each year than the numbers that leave our ranks. I would encourage each of you to examine your business model to see if there is a way for you to add a new trainee or trainees to your staff. In talking with several MTSU college students at the Fall Real Estate Symposium in November, it seems there is considerable amount of interest from the student population to learn more about the appraisal profession.
Another frequent topic of discussion is the cost of training and classes for designation classes. Many members do not know that there are scholarships available from the National Appraisal Institute. The amounts can range from a single class to full funding for the designation classes. If interested, I encourage you to click here and learn more about the application process.
I want to thank the chapter for the opportunity to serve as your President. I am looking forward to working with each of you during the coming year, and I am available to talk with any of you at any time. The phone number listed on the Appraisal Institute website is my cell. Please do not hesitate to reach out. I know that together we can make 2019 a great year for the chapter.
Clayton Haehl, MAI, SRA, AI‐RRS
2019 Greater TN Chapter President
Chapter Meeting - Oak Ridge
The Greater Tennessee Chapter’s next meeting will be held Thursday, February 21, 2019 in Oak Ridge, Tennessee.
As usual, it is free for members and $25 per guest. Please register here if you plan to attend.
Chapter Meeting Venue Information:
6 p.m to 7 p.m — Cocktail Reception (cash bar) at
The American Museum of Science & Energy
115 Main Street East
Oak Ridge, TN 37830
Come have a drink and enjoy complimentary hors d’oeuvres while you tour the new museum! We have rented the space, so there is no charge for admission on this night.
Schedule of Events:
Board of Director’s meeting: 4pm to 6pm (TownePlace Suites right next door to AMSE)
Cocktail Reception (cash bar) The American Museum of Science & Energy: 6pm to 7pm
Dinner, Panel Discussion & Memphis Merger Vote: 7 pm to 9 pm (right next door at the TownePlace Suites)
You will not want to miss this meeting as there will be a panel discussion regarding the exciting real estate market in Oak Ridge, Knoxville and the surrounding areas. You also need to be present to vote on the Memphis Merger Proposal (more info below).
There is no charge for parking. The American Museum of Science & Energy is literally right next door to the TownePlace Suites. You will only need to park once and you can walk across the shared parking lot to get to the museum.
Please register here if you plan to attend.
The Memphis Chapter of the Appraisal Institute has requested that you approve the merger of the Memphis Chapter into the Greater Tennessee Chapter of the Appraisal Institute.
The merged chapters will be known as
The Tennessee Chapter of the Appraisal institute.
Additionally, a Branch Chapter will be formed for the Memphis, Tennessee Chapter.
In late September 2018, the Memphis chapter approached the Greater Tennessee Chapter with a merger proposal.
The idea was born out of the financial and organizational challenges the Memphis Chapter has experienced due to its moderate membership size of only 89 members.
They believe that the formation of a branch chapter will be the best method to maintain the heritage, identity, and fellowship of the Memphis, Tennessee Appraisal Institute members, candidates, practicing affiliates, and affiliates.
The GTC Board of Directors formed an exploratory committee to research the possible advantages and disadvantages of this merger.
Bullet Points of the Proposal:
The Memphis Branch Chapter will retain a Chair, Vice Chair and three Advisory Board Members. (The fact that only a limited number of designation members or candidates are required will reduce the responsibilities of the existing chapter officers and directors who have rotated through the board several election cycles).
The Chair of the Branch Chapter will be a voting member of the new Tennessee Chapter's Board of Directors, increasing the 2020 Tennessee Chapter Board of Directors by one.
The President of the new Tennessee Chapter will also consider and include members from the Branch Chapter on chapter committees in order to provide geographical diversity and balanced representation.
All funds (they do have some money in reserves) and obligations of the Memphis Chapter will be transferred to the new Tennessee Chapter.
All financial needs for the Branch Chapter will be consolidated into the Chapter's budgeting, board approval and accounting process. Separate accounts will not be maintained for the Branch Chapter.
The Branch Chapter's annual budget will be $5000 per year to support local meetings, functions, or gatherings.
The Memphis Chapter will have at least 2 meetings per year in the Memphis area with one of them being a joint meeting with the rest of the chapter.
The New Tennessee Chapter agrees to hold a reasonable share of their annual educational offerings in the Memphis Area. (Historically, they have held around 3 classes per year. In addition, the USPAP update will be offered in Memphis every two years prior to the revised USPAP becoming effective).
The new Tennessee Chapter will provide a reasonable amount of administrative support for the Branch Chapter as needed.
Where We Are Now:
The Greater Tennessee Chapter Board of Directors met via conference call on January 14, 2019 and voted to pass the merger in a unanimous vote.
The Greater Tennessee Chapter Members now need to vote. This vote will take place at our next meeting on February 21, 2019 in Oak Ridge, TN. You must be present to vote (no exceptions). You may register for the meeting and find more information by clicking here.
What Happens Next:
If the chapter votes to move forward with the merger on February 21st, the National Board of Directors will then need to vote to approve this at their second quarter meeting taking place in Chicago over the dates of May 9-10,2019.
If approved, the merger would take place immediately.
Letter from Region IX Chair
As we begin 2019, I want you to know that I am honored to be the Chair of Region IX. I have been very lucky to have served as Vice-Chair alongside Region IX Chair Jody Bishop, MAI, SRA, AI-GRS, for the past two years. Jody has been a great role model for me and has constantly advocated for our members and promoted honest and active communication.
The 2019‐20 Region IX Vice Chair, J.T. Ferstl, MAI and I, are committed to following Jody’s example. Our focus will be helping our members become more successful by getting the most out of their membership.
We would like to thank all of the Region’s chapter leaders and the executive directors for their service. They are the face of the organization for recruiting new members and providing personal service to our existing members. Without their dedication, the Appraisal Institute would not be the largest and most respected professional appraiser organization in the country.
I look forward to the 2019 year. We will, undoubtedbly, face many challenges. J.T. and I will be here to listen to your issues and will work tirelessly on your behalf.
Feel free to contact us if you have any questions, concerns, or just want to discuss our direction. Thank you again for this opportunity to serve you.
Michael V. Tankersley, MAI, SRA, AI‐RRS
Region IX Chair
A complete list of our classes for 2019 is provided here. You can see additional information such as credit hours, pricing and location, as well as, register for these classes by clicking here.
Jan. 31st - Ignorance Isn't Bliss (4 hrs) & Compliance, Completeness, & Competency (4 hrs), both in Nashville (8 hrs total)
Feb, 11-12th - Real Estate Finance, Statistics, and Valuation Modeling, Nashville (15 hrs)
Feb. 13-14th - Residential Report Writing and Case Studies, Nashville (15 hrs)
Feb. 22nd - Simple Tools for Credible Results, Knoxville (7 hrs)
March 4-7th - General Appraiser Income Approach Part 2, Nashville (30 hrs)
March 11-12th - Advanced Residential Applications and Case Studies Part 1, Nashville (15 hrs)
March 13-16th - Advanced Residential Report Writing Part 2, Nashville (30 hrs)
March 22nd - Rural Valuation Basics (National's Premiere), Nashville (7 hrs)
April 1-5th - Advanced Market Analysis & Highest and Best Use, Nashville (35 hrs)
April 8th - Evaluating Commercial Leases: The Tenant and the Terms Both Matter, Knoxville (7 hrs)
April 15-18th - General Appraiser Market Analysis and Highest & Best Use, Nashville (30 hrs)
April 26th - How Tenants Create or Destroy Value, Nashville (7 hrs) coming soon to website
May 6-9th - General Appraiser Report Writing & Case Studies, Nashville (30 hrs)
May 20th - 7 Hour National USPAP Update for 2018/2019, Nashville, (7 hrs)
May 21-24th - Valuation of Conservation Easements, Nashville (30 hrs)
June 10-13th - Basic Appraisal Principles, Nashville (30 hrs)
June 17-20th - Basic Appraisal Procedures, Nashville (30 hrs)
June 24-25th - 15 hour USPAP, Nashville (15 hrs)
June 26th - Supervisory Appraiser/Trainee Appraiser Course, Nashville (7 hrs)
Aug. 12-13th - Residential Market Analysis and Highest & Best Use, Nashville (15 hrs)
Aug. 14-15th - Residential Site Valuation and Cost Approaches, Nashville (15 hrs)
Aug. 19-22nd - General Appraiser Site Valuation & Cost Approach, Nashville (30 hrs)
Sept. 13th - Forest Valuation for Non-Foresters, Chattanooga, (7 hrs)
Sept.16-19th - Residential Sales Comparison and Income Approaches, Nashville (30 hrs)
Sept. 20th - Examining Property Rights & Implications in Valuation, Nashville, (7 hrs)
Sept. 23-26th - General Appraiser Sales Comparison Approach, Nashville (30 hrs)
Oct. 7-12th - Advanced Concepts & Case Studies, Nashville (40 hrs)
Oct. 18th - Working with the Agencies: FHA, Fannie, Freddie, VA, Knoxville, (7 hrs) coming soon to website
Nov. 4-7th - General Appraiser Income Approach Part I, Nashville (30 hrs)
Nov. 15th - Fall Real Estate Symposium 2019, Nashville (7 hrs) coming July of 2019 to website
Dec. 13th - 7 Hour National USPAP Update for 2020/2021, Nashville (7 hrs) coming Nov. 2019 to website
Click here to register. We NEVER cancel classes, so you should always feel free to make your travel plans far in advance without fear of having to change them later. We GUARANTEE it!
Rural Valuation Basics - National Debuts Course in Nashville
The National Appraisal Institute Office in Chicago has chosen the city of Nashville, TN in which to debut their new Rural Valuation Basics seminar (7 hrs).
It will be held on March 22, 2019 at the
Hilton Garden Inn Nashville/Vanderbilt
1713 Broadway Ave
Nashville, TN 37206
and Greater Tennessee Chapter member, Mike Tankersley, MAI, SRA, AI-RRS will be instructing. You may register for it here.
This 7-hour seminar teaches residential and commercial appraisers the fundamental skills they will need to complete rural appraisal assignments. Instruction focuses on land mix analysis, valuing improvements with extraction and allocation, and developing adjustments. Participants will learn how to find and analyze comparable sales and apply the data that is available in rural markets to support a credible opinion of value. Excel spreadsheets and real-world examples will be provided.
Upon completion of this course, participants should be able to:
Identify the characteristics of rural properties that affect value
Locate data sources for rural properties
Find the best data available in markets that have limited data
Analyze information on properties with different land mixes
Value properties with multiple improvements
Use soil mapping tools
Develop the sales comparison approach using land and building mix analyses
You may register for this course here.
Online Education: Learn at your own pace anytime, anywhere.
Top-notch Appraisal Institute courses and seminars come straight to your desktop with online education! Learn from any computer anywhere, whenever you have time. It’s easy, convenient and a great way to get the education you want. Check out the current course listing now!