Exposure Draft

Documents posted on this page are for exposure and comment only. They have not yet been approved by the IAAO Executive Board.

Standard on Assessment Valuation Models (AVMs) Download


The entire standard was revised, updated and/or corrected. The original wording of the standard can be accessed at Technical Standards.

The intent and effect of this exposure draft is to provide an updated technical standard.

Send comments by May 31, 2017, to IAAO Director of Publications Chris Bennett, bennett@iaao.org. (posted April 26, 2017)  

Scope

This standard provides guidance for public and private sector mass appraisal activities, private sector single property appraisals, and programs for the review of appraisals, real estate held in portfolio, and mortgage backed securities that depend on Automated Valuation Model (AVM) systems. The standard provides recommendations, guidelines, and best practices for the design, preparation, and interpretation of results when developing and using AVMs for the valuation of real property. AVMs can be used when sufficient economic data exists to permit development of representative and valid statistical samples. The standard’s layout follows the recognized steps used in the development and operation of an AVM. Each section includes descriptions of governing principles. This is followed by rules related to minimum and preferred requirements, as well as best practices. In addition, the appendixes present the methodologies used in developing and implementing various types of AVMs and related topics. As presented in this standard, the development of an AVM conforms to USPAP Standard 6.

IAAO Bylaws - Amendments


The IAAO Executive Board approved submitting for exposure several proposed amendment changes to the IAAO Bylaws. A document with showing the proposed changes is available for download. A copy of the complete bylaws, with suggested changes, are also available for download.

Send comments by June 11, 2017 to Cindy Mead at mead@iaao.org. (posted May 11, 2017) 

The proposed are limited changes to existing Bylaws impacting conference registration for Past Presidents, time frames for ratification of Executive Committee actions, Appraisal Foundation appointment terms, notice for special meetings, and adding a definition on who is awarded the new Mass Appraisal Specialist designation.