The ICAP Survey – The Results Are In
In response to an Appraiser Qualifications Board (AQB) Concept Paper The Illinois Coalition of Appraisal Professionals (ICAP) conducted an on-line study October 5, through October 10, 2015 to help answer the question, “Should there be alternatives to fulfilling the appraisal experience?” Click here for the results of the study.
As indicated in ICAP’s survey, the vast majority of the respondents do not consider there to be an oversupply of appraisers. In fact, the recent declines of residential appraisers indicate an oversupply of appraisers as the current fees are not enough to keep and attract new appraisers to the industry.
The study further indicates that the largest barrier to entry into the appraisal profession isn’t the education requirement or the experience requirement, but inadequate fees.