How Many Appraisers Are in North Dakota?
400 43 16
The answer is 153, who are individually licensed in North Dakota. I didn’t segregate the three different license types. This figure came from a download of the ASC appraisal registry of ND licensed appraisers, and not counting duplicate name appraisers with multiple licenses in other states.
Many of these appraisers are ‘dual licensed’ in more than one state, in most cases immediately adjacent, but sometimes in states far distant from ND.
What’s the population of North Dakota? According to Wikipedia:
The United States Census Bureau estimates North Dakota’s population was 755,393 on July 1, 2017, a 12.3% increase since the 2010 United States Census. This makes North Dakota the U.S. state with the largest percentage in population growth since 2011. The fourth least-populous state in the country, only Alaska, Vermont, and Wyoming have fewer residents.
The point of this is to state the population density per appraiser is 4,937 people.
I am pretty certain this is far fewer than other states.
Yet the Governor and a state regulator in North Dakota – per the article below in American Banker e-newsletter – want everyone to believe there is a ‘shortage’ of appraisers. Actually, I suspect what they, and the state small bankers, really are peeved about is appraisals take more than a week to get submitted after the date of assignment. That’s not unusual elsewhere.
One thing to keep in mind is the possibility for ‘appraisal waivers’ is part of the original FIRREA law passed back in the late 1980’s.
But it’s only been recently that smaller banks have been pushing to get waivers approved. One bank was denied their request, one state applied, then dropped their waiver request, and now ND is pushing for this.
If ND is successful in this quest, will other states be far behind? Time will tell.
What this means in actual practice is EVALUATIONS can be performed by people who are not licensed appraisers… something that is allowed in banking regulations, driven by the de minimus value. Can you now appreciate why it’s important for appraisers to band together cohesively to lobby on behalf of all appraisers, and quit standing on the sidelines?
That’s kind of an odd statement. Perhaps not correctly quoted.