I attended the Bluegrass Chapter of the Appraisal Instute instillation of officers and Christmas party last night. The group was larger than I thought would be out on a bad night.
I found out out of 161 who tested for the Certified Residential license only 41.6% passed, however 30 out of 39 who tested for he Certified Gerneral licens passed.
This horrible pass rate can only attributed to a woeful lack of educational experience by the applicants. The education process must be updated and upgraded or there will be a huge shortage of licensed appraisers in the near future. The new educationa requirements that go into effect on 01/08/2008 have already cut the ranks of associates and I expect this decline to be ongoning for the next few years. To be a certified general appraiser you must have a college degree, 300 hours of appraisal training and two years of training with a supervisor. The money that can be generated is not enough to attract many college graduates when so many other jobs are offering benefit programs, good salary, and time off, these things an apprentice appraiser do not have.