According to research from the National Association of REALTORS®, issues related to excessive regulation are creating problems with satisfaction and recruitment in the real estate appraisal field. In fact, nearly 75 percent of appraisers surveyed by NAR named frustration with excessive regulation as a reason for potentially leaving the field. Regulations have also served as a barrier for those who want to enter the appraisal field. Sixty-five percent named regulations as a hindrance to entering the field, mainly those to do with training and licensing.
NAR President William E. Brown had this to say: “The work of an appraiser is indispensable to our industry. Appraisers provide the credible, outside opinion on a property value that agents, lenders and ultimately the consumer depend on to guide them through a transaction. If the regulatory burdens holding appraisers back go unaddressed, the challenge of providing a timely appraisal will only get worse.”
Look at the National Association of REALTORS® 2017 Appraiser Trends Study for more data on and the issues affecting the appraisal industry. Speak with a REALTOR® about working with appraisers in your area. Chat with an appraiser in your community about the state of their industry.