The primary function of the American Society of Appraisers’ College of Fellows is to periodically publish written expressions of its opinions, judgments and conclusions concerning appraisal concepts, definitions, principles, methods, and practices with the intent of building an authoritative body of appraisal principles, but also recognizing that the established principles are open to further refinement and development.
The ASA Fellow designation is deemed to be a signal honor and one that confers great distinction upon the recipient.
The ASA Board of Governors created the College of Fellows in 1973 and those previously conferred the grade of Fellow were grandfathered into the body. There currently are 54 active members in the ASA College of Fellows. Throughout ASA’s history, a total of 112 have been conferred the distinction.
ASA has been conferring the grade of “Fellow” since 1954. Before establishing the College of Fellows, nominations were reviewed by the Nominating and Awards Committee and the findings were submitted to the board of governors for final action. The first ASA Fellow was Daniel J. Hennessy.
In 1968, the ASA board of governors moved that every living past president be awarded the Fellow designation.
According to the History of the American Society of Appraisers: “Any person holding the grade of Accredited Senior Appraiser may be nominated for the grade of Fellow. Since the establishment of the College of Fellows, nominations are reviewed in accordance with procedures established by the college. Upon completion of the review process, the college members vote on the nomination. A favorable vote results in submission of the nomination to the board of governors. Approval by the board allows the nominee to be inducted into the College of Fellows.”
Henry A. Babcock is largely credited as being the driving force behind the establishment of the ASA College of Fellows.