from Sehar Siddiqi – Director, Fair Housing Policy and Valuation
National Association of REALTORS®
On march 29, the White House and HUD held a briefing on the Property Appraisal and Valuation Equity (PAVE) Action Plan with Erika Poethig, Director of the Domestic Policy Council, and Melody Taylor, Executive Director PAVE and HUD Regional Director. The National Association of REALTORS (NAR) was on of several groups invited to the virtual event.
The briefing focused on the development of the report and the action items it outlines for federal agencies to make to make the appraisal process more equitable. Of note, they mentioned they worked with 150 appraisers and other real estate professionals when developing the report and mentioned the outcomes are a milestone, not a capstone, and that they welcome additional industry partnerships going forward.
Question asked – What is the timeframe to create programs to diversify the appraisal industry and will it include apprenticeships?
Answer – Our data shows a lack of diversity in the industry – 95-97% of industry professionas are white males. One action item in the report calls for expanded access to the industry which includes reducing the number of educational hours needed to become an appraiser by 90% because these hours are unpaid.