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Making history: al bestows first review designations in its history.

On Jan. 28, the Appraisal Institute issued the first appraisal review designations in its more than 80-year history.

Gilbert A. Valdez, MAI, SRA, AI-GRS, of Huntington Beach, Calif., and Jennifer Marshall, SRA, Al-RRS, of Venice, Fla., received the first individual appraisal review designations. Justin Slack, MAI, SRA, Al-GRS, Al-RRS, of Kent, Wash., is the first individual to receive both appraisal review designations.

The AI-GRS designation (which stands for Appraisal Institute General Review Specialist) and the AI-RRS designation (which stands for Appraisal Institute - Residential Review Specialist) are the Appraisal Institute's first new designations in more than 20 years. Valdez is owner/president of A. Valdez Appraisals, Inc., in Huntington Beach. Marshall is owner of JHM Appraisals, Inc., in Venice. Slack is vice-president, commercial appraisal manager with HomeStreet Bank in Seattle.

"We recognize the need for quality appraisal reviewers in today's real estate marketplace and congratulate these three dedicated professionals on this significant achievement," said Appraisal Institute President Ken P. Wilson, MAI, SRA.

Al implemented its appraisal review designation program Jan. 1 after years of research, responding in part to the growing and important role that appraisal review plays in risk management and mitigation for many clients and users of appraisal services.

"Though always an important valuation function, review appraisals have become even more prominent within the profession and play a vital role in risk management and mitigation," Wilson said.

Learn more about appraisal review designations at zy

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Title Annotation:APPR AISAL report
Publication:Valuation Magazine
Date:Jan 1, 2014
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