Thursday, July 23, 2015

ISA President Attends Valuation Profession Meeting in Chicago

The ISA is committed to working with fellow appraisal organizations and industry agencies to advocate for and advance the credentialed personal property appraiser.

On July 9-10, ISA President, Cindy Charleston-Rosenberg, ISA CAPP, was honored to attend a meeting with the International Valuation Standards Council (IVSC), hosted by the American Society of Appraisers and the Appraisal Institute in Chicago. Participants included representatives of 11 professional valuation organizations, assembled to discuss crucial topics facing the valuation profession around the world.

The IVSC is Chaired by Sir David Tweedie (center, front, Picture 3), former Chairman of the International Accounting Standards Board, renown for leading the successful effort to establish uniform international accountancy standards. President M. Lance Coyle, MAI, SRA, and CEO Frederick H. Grubbe, MBA, CAE, represented the Appraisal Institute.

Learn more about ISA's advocacy and collaboration efforts in the ISA President's New Year's Message from Cindy Charleston-Rosenberg.

Tuesday, July 14, 2015

It’s Not Too Late to Be a Presenter

Libby Holloway, ISA CAPP
By Libby Holloway, ISA CAPP

It has been fun reviewing presenter applications for the Chubb Webinar project. Our organization has some interesting people with unique skills, but we certainly have room for more participants. Do you have a passion for luxury watches? How about vintage motorcycles or bikes? I know there are members out there who could wax poetic about art glass. One of the greatest benefits I’ve found in being an ISA member is the diversity of the knowledge that my colleagues possess. 

Don’t be shy about applying. Current ISA Board member Steve Roach, JD, ISA CAPP, was among the first who applied. "Applying was easy and took 15 minutes," he said. "It's exciting to have an opportunity to introduce people to a subject they might not know much about - in my case, rare coins - and breaking down a complex topic in a presentation within this webinar model." When asked what advice he would give to someone who is considering applying, Steve said, "It's a good opportunity to do some outreach, both for my appraisal practice and for ISA." 

The webinars will be viewed by Chubb brokers, so this is our chance to tell them a little about the things we appraise and their clients collect. Suggestions for your presentation would be value identification tips, an overview of what a collector should understand about the subject, exciting market trends...you get the picture. 

If you fear having to create the webinar, don't worry any longer. Experts in our home office are happy to help. Catherine Toupin, Account Coordinator for Meetings & Education, will be on hand to help you get your talk polished and ready to roll. We even have a branded template for your slides, one that will help you create the professional look you want. I am also happy to talk with you if you need someone to run your ideas by.

I am so excited to be a part of the process of creating this outreach to potential clients and fellow professionals that helping you shine is my priority. And remember, the sample you send along with your application doesn’t have to be perfect, or even about your presentation topic. Your goal is to communicate your ability to share your expertise with enthusiasm and authority. The webinars will be presented live throughout the fall and early winter, so if time is an issue, rest assured: Your final webinar may not have to be ready right away.  

Show me your creative side and apply today! Call me, Libby Holloway, at 843-379-0130 or email at libby@LibbyHollowayAppraisals.com if you have any questions or want to run ideas by me. 

Wednesday, July 8, 2015

What are some arguments for photographs in a divorce appraisal when one party asks that they not be taken?

ISA members are invited to send in their questions on all things appraising and education to Leon Castner, ISA CAPP. Leon will share his answers on the ISA Now Blog. Please send questions to leoncastner@comcast.net.

Question: I am working on a divorce appraisal. One of the spouses asked that photographs not be taken during the onsite inspection. What would you suggest be my argument for insisting that I be allowed to take photographs? I would rather not do the appraisal without being able to take photographs, especially since I already completed the onsite inspection of the contents of the other spouse’s condo and photographs were allowed then.

Answer: The answer depends not on what I say, but what your contract states, if you have one. The first issue is not the photographs, but the client and/or intended users. If the court has ordered you to do the appraisal and it acts as the client, even though you will be paid by the arguing spouses, and if taking photographs is your normal procedure, then you should take the photographs or go back to the court and explain the problem.

On the other hand, if the spouses are your client(s), then a request by one not to take photographs must be approved by the other. It should have been stated in the original contract as part of the scope of work and agreed upon by both. If the other spouse agrees, then you can decide whether doing an assignment without the use of photographs is something you can or want to do. (It’s your choice.) It could be done as a limiting condition with critical assumptions listed in the report.

The fact you have already taken photographs may cloud the issue, but you do not have to include those photos in the report. They could stay in the workfile.

I once had a divorce situation where I did the appraisal but did not include photographs in the report. Months after the report had been delivered, I received a call by “the other side.” (I had been contracted by only one party.) They requested the photographs. I refused stating they weren’t my client and needed permission by my client or an order from the court, which they eventually received and I had to turn over the photographs.

It turned out the request for photographs had nothing to do with my work or any part of the valuation. They were looking for evidence of someone else living in the matrimonial home, which was supposedly at the heart of the complaint.

Tuesday, July 7, 2015

Apply for FAE-Supported Garrett Scholarship for Winterthur Institute Course

Wendell D. Garrett
The Foundation for Appraisal Education (FAE) is now offering a scholarship for the Winterthur Institute Oct. 12-23 course. Graduate students and professionals who are new to fields related to the decorative arts and demonstrate financial need will be considered for the scholarship, named in honor of Wendell D. Garrett. To download the course and scholarship application, visit the Winterthur website.

About the Winterthur Institute course, Oct. 12-23 (from the Winterthur website):

Escape into the world of decorative arts from the 17th through the early 20th centuries. This intensive course offers an in-depth, two-week study of domestic furnishings made or used in America. Designed to appeal to individuals interested in American decorative arts, content for the course centers on the Winterthur collection, the world's largest assemblage of decorative arts made or used in America between 1640 and 1860.  

The course includes an orientation to Winterthur and an introduction to the principles of connoisseurship. Students also utilize resources in the Winterthur Library facilities. The program also includes field trips to local historic sites.

Sessions take place in classrooms, period rooms, and the exhibition areas of Winterthur. Classes are held five days a week from approximately 9:00am to 4:00pm. Each day begins with lectures by Winterthur staff and/or guest speakers. Most afternoon programs are conducted in museum period rooms or with artifacts in classrooms. Guide specialists lead groups of five in "room studies." Workshops are small to allow close examination of the objects.

During the program, participants may take special-subject house tours that allow more in-depth study of particular styles and media.

Winterthur is pleased to offer a scholarship in honor of Wendell D. Garrett through the generous support of the Foundation for Appraisal Education. Graduate students and professionals who are new to fields related to the decorative arts and demonstrate financial need will be considered for the Garrett Scholarship.

Cost for the two-week session is $1,750. By application only. Call 302.888.4786 for more information.