When I accepted the role of CEO, I made a commitment to protect the Appraisal Institute’s mission. This lawsuit is not only about seeking justice for me, it reflects my commitment to the members, the real estate markets, and the many professionals who have been harmed and yet remain faithful to the ideals of their profession: real property valuation. Appraisers play a critical role in protecting the public trust and our economic system.

When I uncovered serious issues at the largest professional organization for appraisers, issues involving a governance breakdown, retaliation, collusion with private financial interests, and more, I raised them, and experienced the full force of what many others have sadly experienced, a sick culture and self-interested “leadership” who silence truthtellers through coordinated abuse. The story is now unfolding, and will continue to unfold as more people come forward. My belief is that this system is a consequence of the actions of a relative few, often colluding, focused on maintaining personal advantage through political dysfunction that undermined a heavily regulated profession of licensed analysts who are themselves bound by exacting standards of independence and ethics.

Potentially anti-competitive gatekeeping and improper influence reinforced barriers to entry, while high-profile, hollow, “diversity” programs provided cover, not progress. Corruption and self-dealing has had a devastating impact on hard working individuals and the profession. It is time the entire “insider” ecosystem, including the regulatory environment, get the public attention it deserves. Sunlight is the best disinfectant.

I have been deeply saddened to learn even more in the New York Times story about how far back this goes. And more people are sharing that they were targets of abuse. Thank you to Debra Kamin for her determined and insightful investigative reporting. Thank you to all of those who have spoken out, and to those who will.

Cindy Chance, PhD