PAREA Update

[djd09]

they do not care what boots on the ground appraisers think, nothing more then third world snake oil salesmen, eh, chief?

 

[Non Sequitur]

I'm trying to imagine how expensive such a course would be. Way more than a 200 hours of QE

Good question.

The AI is $2.5m in as of now (including a $500k grant from TAF) so it ain't gunna' be cheap. BUT some students who fit the "diverse" profiles they are targeting will have grants available so cost will not be a factor for some.

“One of the Appraisal Institute’s top priorities is to create a pathway for a diverse new group of individuals to enter the valuation profession,” said Appraisal Institute President Rodman Schley, MAI, SRA."

Except the valuation profession doesn't include a PAREA path to the certified general side.

Appraisal Institute Receives $500,000 Pathway to Success Grant from TAF

 

[Sadie]

During the video question section, someone axted, "What if the PAREA student doesn't fully grasp appraisal concepts?" Well of course the mentor can withhold credit (?How is the hell is that going to happen?)....and then the AQB says, "well they have to produce three appraisal reports" too. Oh yeah, it only takes three reports to nail being a credible, competent appraiser.

I will be interested in how the 3 to 12 PAREA courses can take a set of data from sales and support all their adjustments, as promised. I think they are all waiting for AI to lead the way, and all the rest will fall in line. Viola.

With training method in place now, the trainee typically has quite a few reports to select to send to the state for review and approval to sit for the licensing test. I certainly hope with PAREA the trainee will get the chance to work through more than 3 appraisals. I am not sure about this, but I do think something needs to change WRT the current training scheme. Its expensive to the supervisor and time consuming. I do not have a good answer and am not sure if PAREA is the best solution to this problem. Because it is a problem.

 

[George Hatch]

You're not going to be able to built 1000 hours of experience credit on a dozen appraisals. Let alone 3 appraisals.

 

[chad hampton]

Parea is a substitute for the experience requirement. You can either go to traditional route or you can go parea. What it is, is basically eliminating the training license. You will take your training education, jump right into area education (it’s not experience), take your certified education and walk out with the same certification I have. What an embarrassment.

Ask your state if they are even going to enforce The two-year or whatever it is, time requirements where you actually learn this profession. they are receiving a lot of threats from the usual suspects about waiving it.

 

[TerryRohrer]

Good question.

The AI is $2.5m in as of now (including a $500k grant from TAF)

Source?

 

[Non Sequitur]

You're not going to be able to built 1000 hours of experience credit on a dozen appraisals. Let alone 3 appraisals.

Thanks to PAREA you don't need to (in about 34 states and counting IIRC).

 

[Non Sequitur]

Source?

Click on the blue sentence below:

Appraisal Institute Receives $500,000 Pathway to Success Grant from TAF

"The Appraisal Institute will receive the full grant amount of $500,000 to build its PAREA program in collaboration with its partners, provided that program development continues to hit predetermined milestones. The AI Board of Directors approved the development of PAREA in September, committing more than $2 million toward the program."

 

[Overimprovement]

All someone needs is a nice subdivision like Levittown where everything is the same, and there will not be any real need for adjustments, or if there are, they will be quite easy to determine.

To me, it's like a driving test being driving a golf cart around the Indy race track with no other cars, and then saying they are qualified to race in the Indy 500.

 

[Non Sequitur]

For those who still think PAREA isn't moving full steam ahead. The AI is taking applications for PAREA mentors, they are offering "up to" $1,875 per participant mentored (click on the blue link PAREA below):

Appraisal Institute PAREA

Practical Applications of Real Estate Appraisal

www.appraisalinstitute.org