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NAR Releases Appraiser Trends Survey

Mar 22, 2017

On March 16th, the National Association of Realtors (NAR) released its Appraiser Trends Study, looking at issues affecting professional appraisers and the work they perform in connection with mortgage lending activity. From its study, NAR found that while most study subjects were fine with their current workload and ability to complete assignments on time, concern existed about future business growth and the impact both of AMCs and automated valuation tools on their bottom line.

Among drivers most likely to cause appraisers to leave the profession are excessive regulation, inadequate compensation for assignments, and increasing costs to do business. The study also found that appraisers are nearly twice as likely to forego VA assignments as the next most commonly declined assignment (FHA).

On the issue of trainee appraisers, only one in five respondents was currently training appraisers, but that the number of trainees per supervisor was showing signs of growth. One concern, however, exists in that nearly 40% of current trainers said that clients “rarely” or “never” accept work competed by a trainee, and that non-acceptance of trainee work was most common in FHA assignments.

Of the individuals surveyed (who are existing NAR appraiser members), NAR found nearly 93 percent of subjects were either certified residential or certified general, and over 82 percent were appraising in the field as their primary function. The average years of experience among active appraisers for the study was almost 22 years.

To read the full study results, click here.