A Shortage of Real Estate Appraisers Is Looming:
The Appraisal Institute reported that the number of certified or licensed home appraisers has declined by 23,000 or 28% since the height of the housing boom in 2007.
Up until the 1980’s individuals desirous of becoming a real estate appraiser could hang a “shingle” outside of their office and be in business with little education or qualification requirements. Large lending institutions or assessor’s offices were typically the training grounds for novice appraisers.
Soon voices arose that caused federal regulations to be imposed which instituted higher education, continuing education and state licensing. More stringent certification requirements took effect this past January and have raised the bar in becoming an appraiser. *
With the older appraisers retiring and the lack of appropriate training options, the opportunity to “break” into the appraisal industry is going to become much more difficult, hence fewer and fewer appraisers with no solution in sight.
*Presently a Bachelor’s degree is mandatory along with serving at least 2,500 hours as an apprentice.
Bill Haedrich, MAI, CCIM, is a member of the Appraisal Institute, a Certified Commercial Investment Member and is a licensed real estate broker with close to 40 years of real estate sales and valuation experience. Bill has been instrumental in marketing, negotiating, and closing over 500 million dollars in sales and lease transactions of commercial and investment properties in the Redding area over the last 30 years. As a graduate of the University of California, Davis, his appraisal background and computer expertise has enabled the firm to provide invaluable market-related data and computer-assisted valuation analyses to its clients.