Skip to main content

Appraisal Institute at United Nations: Worldwide valuation standards needed

Jun 04, 2009

Addressing the need for transparency and accountability in the worldwide valuation profession, the president of the nation’s largest appraisal organization, the Appraisal Institute, called for uniform valuation standards to advance professionalism at a gathering of the United Nations Economic Commission for Europe (UNECE), meeting in Rome, Italy. Primarily focusing on the topic "Rethinking Real Estate Markets," Appraisal Institute President Jim Amorin, MAI, SRA, detailed the evolution of professionalism and stressed the importance of adopting worldwide valuation standards in today's global marketplace, especially as tough economic conditions strain international market activity. "Advancement of professionalism provides greater assurance that the complexity of the interconnected world economy will be better understood and served with knowledgeable and accountable valuation experts," said Amorin. "Whether it is appraising a palace in Rome, a home in Tokyo or a log cabin in Illinois, the fundamental principles of valuation should be recognized and universally applied." Themed: "Facing the Financial Crisis," the UNECE forum was organized in coordination with its Real Estate Market Advisory Group (REM) with the support of Tecnoborsa, the organization for the Development and Regulation of the Real Estate Economy of the Italian Chambers of Commerce. The goal of bringing together international appraisal leaders and government representatives was to contribute to the development of the "Real Estate Market Advisory Checklist," which is a series of principles and guidelines designed to assist a sound restructuring of the real estate sector. "The Appraisal Institute applauds the excellent work in the 'Checklist' drafted by the Real Estate Market Advisory Group and we agree that real estate appraisal practice, methodologies and standards are critical components to a healthy global real estate market. The development of universally applicable valuation standards as well as increased professionalism should continue to be the focus of the international valuation community moving forward," said Amorin. To learn more about the UNECE forum or to view a copy of the developing Real Estate Markets Advisory Checklist, click here. For more information, visit www.appraisalinstitute.org.    
About the author
Published
Jun 04, 2009
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next

Housing Market Outlook: Brighter Days To Come

NAR Chief Economist Yun calls lower mortgage rates ‘magic bullet’ to boost home sales

Jun 11, 2025
Redfin Shareholders Say Yes To Acquisition By Rocket

Nearly 99% of Redfin shareholders vote to approve merger, though fewer vote yes to compensation for company’s execs

Jun 10, 2025
Play Ball: Ishbias Could Add Another Team To Their Roster

Justin Ishbia in agreement to potentially take over as owner of Chicago White Sox — but not for several years yet

Jun 09, 2025
Rift That Could Shift The Housing Market

Trump-Musk breakup this week could have implications for federal economic policies as well as the housing and mortgage markets