Richard L. Borges II, of Greenwood, Ind., will begin his one-year term as president of the Appraisal Institute on Jan. 1.
The Appraisal Institute, based in Chicago, is the nation’s largest organization of real estate appraisers with nearly 23,000 members in nearly 60 countries.
The Appraisal Institute’s other elected officers for 2013 are president-elect Ken P. Wilson of Plano, Texas; vice president M. Lance Coyle of Dallas; and immediate past president Sara W. Stephens of Little Rock, Ark.
Also serving on the Appraisal Institute’s executive committee, as a non-voting member, is chief executive officer Frederick H. Grubbe.
Borges was the organization’s president-elect in 2012 and its vice president in 2011; he will become immediate past president in 2014.
He will serve in 2013 as chair of the Appraisal Institute’s executive committee and will chair its policy-making board of directors.