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The valuation industry’s lack of diversity — in terms of age, gender and ethnicity — and the growing number of valuers leaving the profession when they reach retirement age are well-documented problems. But now that the industry is well aware of these issues, what can be done to turn awareness into action to bring about positive change for the next generation of valuers? Before we break down this question, let’s look at the numbers again.

The current state

Data from the Assessment Institute reveals there There are approximately 78,000 active real estate appraisers in the U.S. At first glance, this may seem like a robust number, but when you consider that this number has declined by 2.6% over the past five years, the reality of the problem runs deeper.

There is also room for improvement in terms of age and ethnic diversity. Since 50% of active appraisers are between the ages of 51 and 65, most are approaching retirement. Most appraisers are also white males (77% male, 85% white).

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