Number of appraisers declining

With increasing barriers to entry and the average age of appraisers being around 55, there is a looming shortage of qualified professionals within the industry.  Some locations are already experiencing it.  As we all learned in economic class when supply goes down, price goes up.  This creates a great opportunity.

Remember in your Appraisal Principles class when we discussed a seller's market?  Appraisers are increasingly operating in a seller's market where they have greater negotiating power.  In Minnesota there were around 4,500 licensed and certified appraisers prior to the housing market crash.  Today we are down to around 1,900.  If you are of the belief your fees are not where they should be, now is the time to do something about it.