Press & Events


Today's Challenge: The Female Appraiser Shortage

Women largely hold managerial and operational roles within the appraisal industry, which is great. But they are not equally represented at the appraiser level.

 A few weeks ago, we sent several employees from our female leadership to the Women's Initiative of the United Way in our hometown of Toledo, Ohio. This program helps and celebrates the professional advancement of women in the workplace. It's a cause of immense importance to us, as we have always been an advocate for female appraisers in an industry that is traditionally dominated by men. But it's time we do even more.

Women largely hold managerial and operational roles within the appraisal industry, which is great. But they are not equally represented at the appraiser level. The commercial industry has many female professionals, but there is only a small percentage of women on the residential side.

 

In fact, the Appraisal Institute states that women make up just 25 percent of all appraisers. That’s particularly shocking considering 63 percent of all Realtors are women, according to the National Association of Realtors (NAR). Obviously, women know the real estate market. So why are women so outnumbered in the appraisal industry?

 

The appraisal industry is still, in many ways, a men's club. But the truth is it is not an easy business to break into, male or female.

 

Compared to the real estate and mortgage industries, there are many more challenges to becoming a qualified, licensed appraiser. Getting an appraiser’s license should not be so easy that just anyone can do it, but changes are needed to bring more candidates to the industry. Over the past decade, we have seen a large drop in new appraiser numbers for both women and men. Meanwhile, aging appraisers have left the industry due to changing requirements and guidelines.

 

New training and licensing standards should help level the playing field, and changes are currently being discussed. However, appraisal companies need to do a better job recruiting women candidates, and our industry should do a better job attracting women to the profession.

 

There has never been a better time to do so. Obviously, from NAR’s figures, there’s no shortage of female housing experts, many of whom may find appraising a more challenging career. Yet there’s a good chance that many women haven’t discussed or considered appraising as a profession because no one ever reached out to them. This is unacceptable and must change.

 

In the meantime, Valuation Partners remains committed to hiring more female appraisers and encouraging women who are considering a career in the appraisal industry to take the plunge. Our industry could sure use their help.