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The Appraisal Institute (AI) said Thursday that CEO Jim Amorin will resign effective Feb. 14, 2023.
Amorin will conclude five years of service as CEO of the organization, which said he is moving on to pursue other opportunities.
“It’s been a tremendous privilege to serve the Appraisal Institute as its CEO, and while I’ll miss this great organization and its people, I’m excited to have the opportunity to take the next steps in my career,” Amorin said.
“On behalf of our board of directors, region and chapter leaders, and AI professionals, I’d like to express my sincere gratitude to Jim for his outstanding work during a critical time for our organization and profession,” said Appraisal Institute President Jody Bishop.
Amorin was named CEO in August 2018 after serving as acting CEO for a year. He succeeded Frederick H. Grubbe, who resigned in 2017 after a decade in the position.
He also served as Appraisal Institute president in 2009 and 2017 and was involved in numerous committees within the organization. Before joining AI, he was vice president of Atrium Real Estate Services in Austin, Texas.
With 90 years of history, the Appraisal Institute is the nation's largest professional organization of real estate appraisers.
AI said its board of directors will immediately begin a search for its next CEO.
The new CEO will arrive during some turbulent times for the appraisal industry. A report released earlier this month analyzing government data found a growing racial gap in appraisals.
Homes in white neighborhoods are assessed at double the value of comparable homes in communities of color, according to the report by Kinder scholars analyzing millions of government records on appraisals. Rather than improving over time, the evidence shows that racial inequity in residential appraisals has worsened over the past decade.