2017 Holiday Luncheon @ Pleasant Valley Country Club
Dec 12 @ 11:30 am – 1:30 pm

The Arkansas Chapter of the Appraisal Institute invites you to the 2017 Holiday Luncheon and Membership Meeting. Discussion topics will include 2018 Arkansas Chapter goals, 2018 education opportunities, and Governance Structure. Lunch is included with the registration fee, and we encourage you to bring or invite a guest.

Registration Fee: $35.00 per person
Dress: Business Casual
Location: Pleasant Valley Country Club
1 Pleasant Valley Drive, Little Rock, AR 72212
Guest Speaker: Michael V. Tankersley, MAI, SRA, AI-RRS, Region IX Vice Chair
7-Hour National USPAP Update Course @ Arkansas REALTORS® Association
Mar 30 all-day


This one-day update course, copyrighted by The Appraisal Foundation, focuses on recent changes to USPAP requirements for ethical behavior and competent performance by appraisers. The course, which clarifies several commonly misunderstood aspects of USPAP, will aid participants in all areas of appraisal practice seeking updated competency in USPAP, including those subject to state licensing or certification and continuing education requirements imposed by professional organizations, client groups, or employers.

Business Practice and Ethics @ Arkansas REALTORS® Association
Apr 26 all-day

Business Practices and Ethics is a significant course in the Appraisal Institute’s curriculum. Appraisers who belong to the Appraisal Institute must adhere to the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, including various regulations, in an increasingly complex business environment. This course is designed to familiarize participants with the obligations of a professional appraiser and the obligations and benefits of belonging to the Appraisal Institute.The course also provides a venue for participants to share ideas about best business practices in light of the ethical requirements placed upon them as professionals and the ever-changing nature of the real property valuation business.

Instructor: Woody Fincham, SRA, AI-RRS

Valuation by Comparison: Residential Analysis and Logic @ Arkansas REALTORS® Association
Apr 27 all-day

Valuation by Comparison: Residential Analysis and Logic informs appraisers about the issues and procedures used in developing a sales comparison analysis for residential properties. Discussion focuses on the rationale and logic of the residential sales comparison approach through thoughtful debate on topics such as market value of actual sales, pending sales, new construction sales, expired listings, and rejected offers. In addition, the seminar explores the techniques used by appraisers to interpret and then anticipate the actions of buyers and sellers in today’s market. Participants will learn about a variety of approaches and resources available for gleaning indications of market value as well as how to consider the logic and appropriate support of adjustments. At the conclusion, participants will better understand which items require adjustment and which items can be ignored.

Instructor: Woody Fincham, SRA, AI-RRS

Solving Land Valuation Puzzles @ Little Rock REALTORS® Association
May 10 all-day

New Seminar!

Learn how to solve a variety of land valuation and feasibility problems using less commonly used land valuation techniques in this one-day seminar. Interactive case studies and discussion topics cover highest and best use considerations, land residual analysis, contamination, impacts of tax increment financing on feasibility, condemnation, subdivision analysis, unit of comparison selection, and alternatives when inadequate land sales exist. Problem identification, assignment conditions, scope of work decisions, and standards of practice are reviewed in each problem and solutions are discussed. Lively class discussion and interaction will result as problems are explored.

Upon completion of the seminar, participants should be able to

  • Summarize the six recognized land valuation techniques
  • Employ land residual analysis as part of a highest and best use decision
  • Calculate and use internal rates of return as a method of testing feasibility
  • Recognize terms and concepts used for valuation of contaminated land
  • Test alternative units of comparison
  • Perform allocation and market extraction when land sales are lacking
  • Understand the basics of subdivision valuation
  • Understand the basics of condemnation valuation
  • Properly apply special/extraordinary assumptions, hypothetical conditions, and the Jurisdictional Exception Rule of USPAP in unusual situations.

Instructor: Randall A. Button, MAI, SRA, AI-GRS

Compliance, Completeness & Competency @ Little Rock REALTORS® Association
May 11 all-day

This course will discuss the history, policies, programs and minimum requirements of an appraisal report necessary for federally related transactions based on FIRREA and the Interagency Guidelines for Appraisal and Evaluations as well as the role of the reviewer in bank related transactions. A discussion of minimum evaluation requirements and most common mistakes made in appraisal and evaluations reports will also be presented. A breakdown of the regulatory expectations of the financial institution will be discussed from the origination of the assignment, through developing the scope of work with the client’s input, to the final submission of and review of the report. Heavy focus will be presented on the minimum requirements of an appraisal report to satisfy the requirements of the regulatory agencies.

Instructor: Randall A. Button, MAI, SRA, AI-GRS

Evaluating Commercial Leases: The Tenant and the Terms Both Matter @ Arkansas REALTORS Association
Dec 6 all-day

New Seminar!

This 7-hour seminar introduces participants to how the terms of a lease and the risk profile of the tenant influence the valuation of commercial real estate. Participants will see how the business features of commercial leases affect the quantity and the duration of the income stream that a property will generate and the development of the property’s income statement. Non-traditional sources of income, the proper period to use in measuring the income, measuring the real vacancy rate, expenses that might not be recoverable by a landlord if a CAM formula is incorrect, and how other special clauses in a lease can all affect the property’s income stream will be examined. The second part of the seminar discusses tenant credit risk issues and explains why understanding a tenant’s financial strength is key to assessing the quality of the income stream.

Instructor: Randall A. Button, MAI, SRA, AI-GRS

Holiday Party and Officer Installation @ Table 28
Dec 6 @ 6:30 pm – 8:00 pm

Arkansas Chapter members and guests will gather for dinner at Table 28 at 6:30 p.m. on Thursday, December 6. We will install the 2019 officers and board.

Located in the Burgundy Hotel, Table 28 serves New American Cuisine featuring Executive Chef Scott Rains. Table 28 continues the tradition of award-winning cuisine and service with a unique twist on fine dining.

Rural Valuation Basics @ Arkansas REALTORS Association
May 17 all-day

This 7-hour seminar teaches residential and commercial appraisers the fundamental skills they will need to complete rural appraisal assignments. Instruction focuses on land mix analysis, valuing improvements with extraction and allocation, and developing adjustments. Participants will learn how to find and analyze comparable sales and apply the data that is available in rural markets to support a credible opinion of value. Excel spreadsheets and real-world examples will be provided.

Upon completion of this course, participants should be able to:

  • Identify the characteristics of rural properties that affect value
  • Locate data sources for rural properties
  • Find the best data available in markets that have limited data
  • Analyze information on properties with different land mixes
  • Value properties with multiple improvements
  • Use soil mapping tools
  • Develop the sales comparison approach using land and building mix analyses
Arkansas Chapter Membership Meeting @ The Little Rock Club - 30th Floor, Regions Bank Bldg.
Sep 27 @ 10:30 am – 1:00 pm


It’s Only an Opinion: An Appraiser in Court
Henry J. Wise, MAI

The presentation is based on Wise’s new book, “It’s Only An Opinion, An Appraiser In Court” released June 4 by Old Stone Press. The book, which was selected for the 2019 “Distinguished Favorite” award in the Business-General category by the Independent Press, is a compilation of anecdotes, observations and lessons from Wise’s 35-year career as a real estate and business appraiser who concentrated on litigation support.


Commercial and Residential Roundtable Discussions
J.T. Ferstl, JD, MAI
Angela Hartwig, SRA

The purpose of the roundtable discussions is to extend information from Appraisal Institute Regional and National Meetings for 2019 concerning commercial appraiser specific education and industry current events affecting commercial and residential appraising to commercial and residential appraisers in the State of Arkansas.

This program has been approved for 2 hours of CE from the Appraisal Institute and we are applying for 2 CE hours from the Arkansas Appraiser Licensing and Certification Board.

The registration fee covers a buffet lunch at The Little Rock Club and parking in the Regions Bank Building parking deck, accessible from 4th Street, off Broadway.