The Appraisal Institute refuted claims made by the National Association of Realtors that appraisals have hampered home sales. Following the release of NAR’s Oct. 10 survey, the Appraisal Institute defended its position in the Washington Post, Valuation Review and the (Pittsburgh) Tribune-Review, among other media outlets.
The Appraisal Institute said it would be irresponsible to hold appraisers responsible for the housing market and that an appraisal is not intended to match the sales price, Valuation Review reported Oct. 18. Additionally, AI noted that the appraiser’s client is the lender and not the buyer or seller and that the appraiser has no vested interest in the sale of a property.
This story is among the recent media coverage included in the “AI in the News” feature on the members-only section of the Appraisal Institute website.
Appraisal Institute members appearing recently in local media coverage include Quentin Ball, MAI,
Sun Herald (Biloxi, Miss.); David King, MAI, SRA, (Pittsburgh)Tribune-Review; Sandra Adomatis, MAI, SRA, and Michael Hobbs, MAI, SRA, Chicago Tribune.
See the latest media coverage about the real estate valuation profession, the Appraisal Institute and its members. Media coverage at “AI in the News,” found on the member log-in page of the Appraisal Institute’s website, is updated daily and also includes the latest news releases from the Appraisal Institute.