Two-thirds of appraisers in the U.S. are age 55 and older, according to a survey The Appraisal Foundation (TAF) and the Appraisal Institute (AI) conducted. About 20% are aged 45 to 55 and just 10% are aged 35 to 44. Survey respondents were appraisers from different disciplines, not just business appraisers. In terms of gender, “women and non-white ethnicities are underrepresented among the appraisal profession,” the survey results say. Only 32% of appraisers reported identifying with the female gender. A mere 4.4% of survey responses were from Black or African-American respondents (although these groups make up 13.4% of the U.S. Census). Hispanic, Latino, or Spanish origin were even less represented in the survey, at 3.7%, even though they make up 18.5% of the U.S. Census. TAF and AI plan to use these survey results when developing future strategies and initiatives. More information on TAF’s diversity, equity, and inclusion initiatives can be found if you click here.
Extra: An article by Jim Alerding (Alerding Consulting) in the January 2022 Business Valuation Update spotlights the staffing problems BV firms are facing.