For Immediate Release
January 24, 2019
(Washington, DC) – The number of individuals sitting for the first time for one of the three National Uniform Licensing and Certification Exams increased significantly, with the number of Millennial test takers experiencing the steepest rise among all age groups in 2018, according to data prepared exclusively for The Appraisal Foundation by PSI Services, LLC.
1,459 individuals sat for the first time for one of three appraisal exams— Certified General, Certified Residential and Licensed Residential—in 2018, which was a 23 percent increase over the 1,172 first-time test takers who sat in 2017.
“The strong growth in individuals sitting for the appraisal exam for the first time is an extremely positive and welcome development,” said Appraiser Qualifications Board Chair Mark A. Lewis, whose board creates and oversees administration of the test.
The 2018 number is the highest since 2014 when 2,630 first-time test takers sat for the exam before more stringent qualification criteria took effect in 2015. This number was considered an inflated outlier because people were rushing to take the exam.
Equal in importance to the overall increase of first-time test takers was the spike among those who are 35 years old and younger taking the test for the first time. In 2018, 588 Millennials sat for one of the three exams, which was a more than 200 percent increase over 2017 when 194 Millennials sat for the exam.
“While the appraisal profession is often viewed as a second career choice, these numbers demonstrate that young people also view the profession as an early career choice,” said Vice President of Appraisal Services John Brenan. “New people entering any profession are its life blood, but it is especially heartening to know that the appraisal profession is reaching a new generation, which reflects extremely well on the continued growth of the profession.”
The results are only for those who have taken one of the three appraisal exams, and do not indicate whether the individuals became a professional appraiser. While individuals can take the test more than once, the first-time test takers are generally considered a better guide to newer entrants into the profession.
The Appraisal Foundation is the nation’s foremost authority on the valuation profession. The organization sets the Congressionally-authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available at www.appraisalfoundation.org.
Media Contact: David Greer
Director of Communications
The Appraisal Foundation
direct phone 202.624.3048