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4 Appraisal Groups Agree to Fight Unconscious Bias

The Appraisal Institute, American Society of Appraisers and two other groups collectively support additional training that addresses unconscious bias in valuations.

CHICAGO – The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers, and the Massachusetts Board of Real Estate Appraisers announced collective support for developing additional training that addresses unconscious bias in valuation. Each group plans to individually review its Code of Ethics and other governing documents to further ensure members’ awareness and compliance.  

“During this important time in our nation’s history, our organizations stand together to enhance existing training and ethics initiatives and work even harder to ensure that the appraisal process is free of bias or discrimination of any kind,” Appraisal Institute President Jefferson L. Sherman, says.  

Specifically, the organizations pledge to develop appraiser training programs that cover unconscious bias issues and increase awareness by connecting the appraisal community with thought leaders on bias and discrimination.  

“Acknowledging that bias exists is but one small step,” says American Society of Appraisers International President Lorrie Beaumont. “Together with our partners, we commit to doing the hard work of educating our members about the various ways that bias can affect their work and provide them the tools necessary to overcome bias. By doing this as a profession – and not merely as individual organizations – we hope to underscore to our members and the public just how important this issue is to all of us.” 

Each of the organizations also committed to enhancing their respective Code of Ethics to more overtly address bias and discrimination issues with protected classes.  

It’s not the first time the professional organizations have worked together. Earlier this year they collectively addressed COVID-19 pandemic appraisal and policy issues that faced the valuation profession. 

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