Move to Merge Appraiser Units Ends in Defeat

A move to consolidate the nation’s two largest real estate appraisal groups failed to pass when it did not receive the required two-thirds approval vote of the membership of the American Institute of Real Estate Appraisers of the National Assn. of Realtors.

The plan, as approved by the Society of Real Estate Appraisers last October, would have merged that group, the nation’s largest appraiser organization, with the institute, the nation’s oldest, to form the Real Estate Appraisal Institute.

It was the goal of the proposed consolidation to end confusion over the two Chicago-based groups and the proliferation of appraiser designations, according to Richard E. Nichols, president of the Society of Real Estate Appraisers.