IVSC's CEO Nick Talbot spoke to Jim Hirt, CEO of the American Society of Appraisers, about his role in the valuation profession and his views on opportunities for valuers across the world.
Nick Talbot: Jim, tell us a little bit about yourself and your Valuation Professional Organisation.
Jim Hirt: I have been the Chief Executive Officer for the American Society of Appraisers (ASA) since 2012. I have nearly 22 years of managing various non-profit associations. The mission of ASA is to benefit our members, the appraisal profession, and the public through our commitment to continuing educational excellence, to fostering the exchange of knowledge among our members, and to the promulgation of and compliance with the highest level of ethical and professional standards. ASA credentials members as an Associate Member (AM), Accredited Senior Appraiser (ASA), and the Fellow Accredited Senior Appraiser (FASA). ASA delivers education programs for each of the six disciplines in the classroom, and online.
NT: How many valuation professionals work in your organisation and what areas of valuation are they involved in?
JH: ASA represents nearly 5,000 members around the globe who work as valuation professionals in Business Valuation, Machinery and Technical Specialties, Personal Property, Real Property, Gems and Jewelry, and Appraisal Review Management.
NT: What are the main markets that you work in?
JH: ASA members primarily work in the USA but the membership base is growing internationally.
NT: How are you and ASA involved with the IVSC and International Valuation Standards?
JH: ASA is a member and sponsor of IVSC. ASA members participate on the IVSC Advisory Forum Working Group and various IVSC task forces. I participated on the IVSC Review Team, co-hosted an IVSC VPO CEO meeting and provided various special reports for the IVSC Board of Trustees.
NT: What are the key challenges your VPO is facing?
JH: There are a few issues that come to mind:
- Global pressure to implement International Valuation Standards and International Accounting Standards (IAS)
- Finding ways to improve the return on investment for the members
- Communication with members, public, government agencies and other appraisal organisations
- Finding new strategies and tactics for growth and success
- Unification, merger, consolidation, collaboration with other societies
- Educating end-users of our services on the education and accreditation requirements behind an ASA designation
- Increased Congressional oversight and geopolitical pressures
- Regulations, credentialing, practice policies
NT: What opportunities do you think the valuation profession has over the next few years?
JH: I think the profession has some great opportunities to develop strategic alliances, coalitions and relationships with a variety of public, private, and not-for-profit organizations to advance the valuation profession.
NT: How would you like to see the valuation profession organizations evolve over the next few years?
JH: I'd like to see VPOs be recognised worldwide as the credible source of valuation expertise.
NT: What are your interests outside of your role as the VPO CEO?
JH: Spending time with my family is a priority. I enjoy getting together with friends for dinner, going to sporting activities, and working on my home.