Fels Institute of Government students welcomed David Byerman '95 to the Racial Equity and Social Justice conversation series on Thursday, February 22, 2024. Mr. Byerman is the lead consultant for the Council on Licensure, Enforcement and Regulation (CLEAR) and president of the Byerman Solutions Group.
In the conversation moderated by Fels Distinguished Fellow Matt Stitt ’12, Mr. Byerman shared his insights regarding the issue of racial bias in home appraisals and the consequences of inequitable treatment of borrowers, including that racially biased appraisals result in undervalued properties and contribute to perpetual wealth disparities.
Additionally, Mr. Byerman illuminated the substantial barriers to entry into the appraisal profession with a model that relies on direct connections to professional appraisers for access to mentorship and typically unpaid training. He emphasized the need for the federal government to enact legislation to minimize barriers to entry and reform licensing requirements that disproportionately affect minority communities. The Appraiser Foundation also plays a significant role, as they set the standards through the Appraiser Standards Board (ASB) and Appraiser Qualifications Board (AQB), which are generally adopted by governmental agencies.
Mr. Byerman recommended that students learn more about the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) and watch Brookings Metro’s documentary “Our America: Lowballed” to learn more about this issue.
