Professional Documents
Culture Documents
March 2017
The term REALTOR is a registered collective membership mark that identifies a real estate professional who is a member of the National
Association of REALTORS and subscribes to its strict Code of Ethics.
Working for Americas property owners, the National Association provides a facility for professional development, research and exchange of
information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to
own real property.
To find out about other products from NARs Research Division, visit www.NAR.REALTOR.org/research-and-statistics.
No
6.8%
No
30.3%
Yes
69.7%
Yes n = 152
n = 2248 93.2%
52.8% of the 106 respondents who in the past worked as an appraiser did so 3 or more years ago.
Other 3.5%
n = 2116
Other 6.9%
n = 2116
Average Years
21.6 21.7
19.6
n = 2202
Total Current Appraisers Former Appraisers
Lender 80.0%
Other
Independent AMC 73.5%
5.3%
Other 34.0%
n = 2116
n = 2116
A large majority intend to continue working as an appraiser for the next 5 years.
Amount of time I have to perform each appraisal 23.8% 30.7% 44.4% 1.1%
The increased use of data driven valuation models 6.3% 18.9% 67.3% 7.5%
n = 2116
Satisfied Neutral Not satisfied N/A
Significant Drivers
In order of Relative Importance
1. Satisfaction with regulations
2. Satisfaction with volume of appraisals
3. Satisfaction with compensation
4. Satisfaction with time to perform appraisal
n = 2116
Example: the more satisfied an appraiser is with the amount of regulations that exist,
the more likely he/she will be to stay in the field. Conversely, the less satisfied, the
more likely they will depart.
N/A and not sure ratings were recoded to the middle value on 5-point scales this retains the case
for analysis while not impacting the results with that rating.
VA 47.1%
FHA 28.6%
USDA 28.1%
Rural 22.5%
Unique properties/renovations 21.1%
Odd lots 20.1%
Origination loans 18.1%
GSEs 16.7%
Distressed areas 16.3%
Portfolio 14.9%
Urban 9.1%
Inner suburbs 6.1%
Suburban 4.5%
Other 12.7%
None of these 16.9%
n = 2116
Yes
16.1%
No Yes
48.7% 51.3%
No
83.9%
n = 2116 n = 1776
More than the previous 12 months About the same Less than the previous 12 months
No compensation 38.4%
Salary 8.2%
Trainers report that, on average,
training adds 10.2 hours to their
weekly workload.
Other 8.2%
n = 354
11.9% 12.7%
Always
Never
n = 354 25.7%
FHA 46.9%
USDA 33.6%
VA 31.4%
GSEs 30.2%
Portfolio 15.8%
Other 16.7%
n = 354
Training future competition 7.6% 9.0% 10.4% 10.7% 11.2% 19.5% 31.6%
3.3%
Inability to retain trainees 4.6%
6.7% 10.2% 16.9% 29.1% 30.2%
n = 1217
Appraisers are compensated for the shorter time frame and longer time
to complete both rush appraisals and unique or odd lot appraisals.
152.5
% of Overall Fee Average
143.6
114.2
74.0
60.8
54.9
Decreased
Decreased 0.4%
6.3%
Increased
29.1% Stayed
the same
36.1%
Stayed
the Increased
same 63.5%
64.6%
n = 2116 n = 2116
28.4%
Yes
42.5%
No
Not sure
29.1%
n = 2116
4.3% 7.1%
4.7%
2.5%
Commercial
Residential
Real estate agent
Law firm
Other
81.4%
n = 2116