Real Estate Appraisal in the US: Market Research Report
Thanks to Appraisalscoop.com for this Most Interesting info!!
My comment: Unfortunately, the report costs $825. I’m not sure who would buy it, but below are some interesting excerpts. It does confirm that 75% of appraisers do not have any employees.
I did a surveys in 1992, just as licensing was beginning. At that time, relatively few appraisers worked solo (22%). 25% had 2-3 appraisers, 25% had 4-6 appraisers, and 27% had 7+ appraisers. The average was 5.4 appraisers per company. Number of years of experience of The business owners had 5-10 years of experience. I had three appraisers.
Around 1995 came a big crash, and many of us downsized to one appraiser. Few of us went back up to the old days. Newer appraisers in the mid-2000s hired lots of trainees to increase firm size. Most of them have gone back to one appraiser. Same Old Cycle. Nothing New.
Excerpts from report:
The top five firms in the Real Estate Appraisal industry account for less than 15.0% of industry revenue with the largest having a market share of just 6.2%. The larger participants in the industry are generally subdivisions of large multinational property, brokerage, and global real estate service firms. The vast majority of companies operating in the industry are small, independent firms with few employees or single-owner operators.
According to the US Census and IBISWorld estimates, 75.3% of establishments are nonemployers. From 2008 to 2010, the total number of establishments in the industry was decreasing. The number of nonemployer establishments was decreasing at a faster rate than employer firms. This trend, however, has reversed recently.
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Excerpt from press release
Over the past two years, however, IBISWorld expects that industry revenue has recovered substantially, and estimates it will grow 6.7% in 2013 as the volume of real estate transactions increases and property values continue to recover from recessionary lows
Link to press release with more info: