Unemployment rate for appraisers

[Roy Courtney]

Roy, Where ya been?

Hey, I just took a break! Seems that everyone is still fussing about the AMCs! LOL

 

[PL1957]

I think the statistics are accurate for what they represent - the unemployment rate for employed appraisers. It's been a couple of years since I looked at the DOL's numbers, so I might be a bit off on this, but IIRC, about half of licensed, certified, etc. appraisers qualify as being "employed" with the balance "self-employed". Remember, this total includes both commercial and residential appraisers, as well as many who work at banks, assessor's offices, etc. Many employers of appraisers are desperately seeking people, with little success. Also, remember that, when an employee appraiser gets laid off, they often go "self-employed" quickly, taking themselves out of the unemployed appraiser pool.

 

[Webbed Feet]

So you are predicting an appraiser shortage to come? The AMC-style appraiser?

We already have a drastic shortage of appraisers. What confuses the public and staticians is how many people with licenses and certifications there are. If a statistic was created that accurately showed just how many of those licensed and certified people should either still be trainees, or have their licenses and certifications revoked, it would then be seen a true shortage of "appraisers" actually exists.

The overall public opinion of the meaningfulness of real estate appraisal reports in not complimentary, and that is for good cause. The forces that brought things here are not all appraisal field created, but we have all played our part in allowing it to happen.

 

[The Warrior Monk]

I think the statistics are accurate for what they represent - the unemployment rate for employed appraisers. It's been a couple of years since I looked at the DOL's numbers, so I might be a bit off on this, but IIRC, about half of licensed, certified, etc. appraisers qualify as being "employed" with the balance "self-employed". Remember, this total includes both commercial and residential appraisers, as well as many who work at banks, assessor's offices, etc. Many employers of appraisers are desperately seeking people, with little success. Also, remember that, when an employee appraiser gets laid off, they often go "self-employed" quickly, taking themselves out of the unemployed appraiser pool.

I agree with PL's analysis.

I believe that some people may be conflating "unemployed" with "leaving the profession" or "working a second job." There are plenty of people that have left the profession, and their are plenty of appraisers that hold licenses that aren't practicing and/or working second jobs. The people are not unemployed, though their primary business is no longer appraising.

 

[David Mescon]

If a statistic was created that accurately showed just how many of those licensed and certified people should either still be trainees, or have their licenses and certifications revoked, it would then be seen a true shortage of "appraisers" actually exists.

We can only wish...



The overall public opinion of the meaningfulness of real estate appraisal reports in not complimentary, and that is for good cause. The forces that brought things here are not all appraisal field created, but we have all played our part in allowing it to happen.

So sad, but so very true.

If only there were a way to regulate appraisers...

 

[DMZwerg]

According to the wall street journal and other sources the real estate appraisal profession has the lowest unemployment rate of all occupations coming in at .004 unemployment rate. I just do not believe this is true

What most professions call "unemployed" are technically only "slow times" or "days off" when self-employed, like appraisers. I wonder where farmers hit in that? Technically I figure appraisers have such a low rate because so many are self-employed but enough are not to register as an "employee" occupation (rather than 100% self-employed).

 

[DMZwerg]

I predict that the gov will be forced to do so and probably by allowing any RE broker who will take a specified block of classes to "fast track" licensing or even create a special "Broker-Appraiser" who will take on the function of an appraiser... no more proven vetted experience log, no more mentoring. The broker will go straight to GO and hop the JAIL part. Welcome to the new NAR Monopoly Game...where the NAR once again dominates, if not owns, the appraisal world.

As I recall precedence for such vetting of RE Brokers was established when licensing was first inflicted on the appraisal profession ...

 

[SutnNC]

Geez, this would be nearly impossible to nail down without a focus study on all of "we" (lol).

If there truly was a near-universal demand for qualified appraisers (up and down housing), I believe there is a borderline/actual severe shortage and the unemployment rate for that segment would be significantly lower than the national average (IF the need/demand was actually there; if there was real blow back for garbage).

I would guess that one immediate source for data would be a total AMC roster vs ASC numbers (many of us know how that washes out though).

Hmmmm.....my thoughts- those that truly have what it takes are doing well enough given the toilet water we're all swimming in.

 

[fractal7221]

I hate to be insensitive here Roy. My office is turning down work as well. Why? It has nothing to do with low fees or turn time although that happens once in a while. My problem is our 2 person shop can't keep up with volume of good paying clients. I had clients begging us not to turn off for the Thanksgiving holiday. We are not spending the break on vacation. We are catching up writing reports and I expect it to get even worse/better in the coming weeks. I am not going to feel bad about it. I hope those former appraisers find other meaningful work. I may be wrong but I believe the surplus of appraisers is a myth the worst AMCs have been feeding us. How many folks really believe it when their staff calls and tells you they have someone who will do it cheaper? No they don't. That is why they are calling you. They are just hoping to find an appraiser who will believe them and do it cheaper.

Depends on the area. Some of our coverage areas have no problems finding an appraiser to accept an assignment. Other areas there are only 2 or 3 and if they are busy or on vacation you're SOL or have to get a report from an out of town skippy.

 

[LACKLAND27]

Be wary of reported numbers. I can't file unemployment if I wanted to, since I work for myself. If I stop appraising, I will not appear on in the reported numbers. Additionally, those who's unemployment benefits have run out are removed from the unemployment numbers reported by the states. So if you think the country is really at 9-12% unemployment and not more like <15%, you're really not understanding how the numbers are reported.

Most economist say its actually over 20% in real #'s and even higher if you count under employed.