Appraisal Institute Vice President Steps Aside, Not Down

Under intense public pressure, Appraisal Institute vice president Craig Steinley is stepping away from his role without outright resigning from the position.

The president of the organization posted a statement on LinkedIn announcing Steinley would withdraw from making public appearances on its behalf, the New York Times reported. The statement omitted whether or not Steinley had stepped down from his role.

The former president of the organization, in fact, has not resigned. It’s unclear if his sabbatical from the public role will cost him any of his $100,000 salary. The Appraisal Institute formed a task force to assess next steps after a damning Times investigation published last week.

Former CEO Cindy Chance filed a wrongful termination lawsuit last week, alleging sexual harassment and retaliation. Chance claimed the institute’s vice president and former president, Steinley, groped her, made lewd comments about her body and called her his “girlfriend.”

Multiple similar accusations have also been made against Steinley, who denies all allegations.

The institute privately paid $412,000 to settle a harassment claim from former CFO Beata Swacha, who accused Steinley of “wildly inappropriate behavior.” At least eight women reportedly filed complaints against Steinley over the past decade and three claimed he groped them.

Multiple women described a pattern of unwanted touching and inappropriate comments; appraisers described his behavior as being an “open secret” for years. One former staffer alleged Steinley groped her during a 2018 board meeting, but claims no record of her complaint was kept.

Members of the organization were not impressed with leadership’s response to the allegations.

“It’s time for Craig to step down or be removed for the good of the Appraisal Institute,” a North Carolina appraiser and former national board member said. “The board’s continued inaction in the face of repeated member and staff complaints and concerns is verging on complicity, if we are not already there.”

The Appraisal Institute has 16,000 dues-paying members and influences the work of approximately 70,000 appraisers nationwide.

The institute — and the industry at large — has been under scrutiny, particularly in the area of bias; roughly 94 percent of residential appraisers are white and 60 percent are male, according to labor statistics.

— Holden Walter-Warner