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In May 2022, NAR Research conducted a survey of all 9,700 appraiser members and 50,000 randomly-selected non-appraiser members.
The objective of this report is to determine the level of impact of appraisals on the current market and member business in terms of cost, turn-around times, and other challenges and to measure member experiences with bias and discrimination in the appraisal process.
- 66% of non-appraiser members cite lack of inventory as their greatest challenge.
- Virtually all appraiser respondents (97%) have conducted an in-person appraisal, and 79% have done so by desktop/drive-by appraisal.
- 54% of appraisers report that appraisal management companies (AMCs) have been among the greatest challenges in their businesses in the past year; 30% cite expanding regulations.
- The typical appraiser reports a 40-mile radius in which they conduct appraisals. 68% report practicing within a radius of 20–59 miles.
- More than half (54%) of appraisers feel fairly compensated for each appraisal.
- 3% of members overall report witnessing or experiencing discrimination in an appraisal, most likely based on race or color (2% each).