With few new people currently entering the appraisal profession, do you foresee a shortage of appraisers at some point?
Yes, in the next few years. 2,705 votes 47%
Yes, but it’s probably years down the road. 1,603 votes 28%
No, I don’t think we will see a chronic shortage. 1,137 votes 20%
Not sure. 253 votes 4%
Total Votes: 5,698
Until appraiser licensing 20 years ago, most residential appraisers worked for lenders. When it was busy they hired armies of trainees. When work slowed down many were laid off. With the cyclical fees in AMC work and many lenders not allowing trainees to sign appraisals, it is not financially feasible for fee appraisers to train.
I assume that lenders will allow trainees to sign at some time as the inevitable cycle of weak vs. strong regulations shift. I have no idea when this will happen. This is the easiest way to fix the problem. Low AMC fees when business is slow is more complicated as it reduces the financial incentive for fee appraisers to hire trainees and give them part of the fee.