Appraisal Institute's PAREA receives approval from the Appraiser Qualifications Board

[chad hampton]

I still don’t understand how they got away with calling parea experience. Parea is education not experience. But with all the verbal nonsense that has gone on with this profession in the last 5-10 years, it doesn’t surprise me. Experience isn’t achieved by watching YouTube or zoom.

it’s as though every idea is worse than the one before it.

 

[djd09]

at this point professional appraisers are best without the constraints of USPAP...ask the mortgage brokers

 

[NC Appraising]

They wanted no part of a trainee (or a licensed appraiser for that matter) signing a report. Even with the Certified mentor signing on the supervisory appraiser side as did inspect. They didn't even want the provided assistance statement on the main form!

Darn. I never put that together. WOW.

Another piece of the puzzle. Take test, now you are a certified appraiser ....sshhh a trainee. You can now sign the report all by yourself with one day on the job. Nice.

Heck of a way to fool the public and lenders. Those AMCs are some slimy POS.


I just wished we had a organization to inform our NC legislators and NC Board on what these AMCs are up to. NCPAC where are you?

 

[Deleted member 122624]

Get ready for more bad appraisals and poor customer service. These people who pass this will have 0 knowledge and 0 skills to adequately perform appraisals in The real world.

They will be just as good as a Zestimate because they will lack the real world training and knowledge they need.

Shame that for years the simple solution was to allow trainees to do more under a supervisor yet AMCs and lenders wouldn’t allow it. Shame that that for years the solution was to allow trainees to go off on their own yet many wouldn’t allow it. Shame that for years the ASC, LENDERS, AF and more failed the appraisers and the consumers therefore having to create another band aid and more problems.

The solution was simple yet they are greedy and want more $$ instead of what’s right. Disgusting in my opinion. They will once again blame everyone else but themselves for their poor decisions and more. This is no longer a profession to be proud of. It’s a profession to make others more money and not care about the outcome.
Shame on the entire profession and it’s so called leaders for taking a cheap way out instead of investing their dollars and authority to correct the sins of the past.

This is going to be nothing more than a **** show going forward because the leadership and people in charge are cowards and couldn’t admit they were wrong.

 

[Deleted member 122624]

It is my understanding that it has been adopted, to some degree, in about 40 states.

I have seen a preview. Pretty impressive. Cost is a hurdle, but I am not sure that it is any bigger challenge financially than the current process is. Time will tell.

Personally, I think it has great potential for use in CE as well as in the main PARREA program

Danny. If you weee still a practicing appraiser with a company, would you agree with this?

 

[Andee]

Should still be a 4 year degree requirement. Won't get a better product by lowering the bar.

When I started as a trainee, the 4 year degree was still required for your CR....I had 2 classes left for my degree when they changed that to you only need 30 units. I already had my LR because the guy I was training under wanted me to get it. Then I found out later on that if I would have applied for CR at the time they changed the ruling, I wouldn't have had to test for my CR because it was less than 12 months later.

 

[Elliott]

When PAREA was first mentioned, McKissock said they were working on it and I inquired about their program. They said they needed mentors, so I asked what they were planning on paying, and as I recall it was $2000, or about $1 per hour. I don't know how the mentorship is going to shake out, but my guess is the AMCs will have a chief appraiser who will be mentors and they farm out hybrids to the trainees.

 

[shrubberyvaluation]

When PAREA was first mentioned, McKissock said they were working on it and I inquired about their program. They said they needed mentors, so I asked what they were planning on paying, and as I recall it was $2000, or about $1 per hour. I don't know how the mentorship is going to shake out, but my guess is the AMCs will have a chief appraiser who will be mentors and they farm out hybrids to the trainees.

It wont be 2000 hours. The mississippi PAREA all but 2 were also working full time jobs. So its a part time thing for what 3 months? 6 months? Maybe 5-10 hours a week so it could be less than 100 hours.

 

[Deleted member 122624]

The only people wanting PAREA to succeed are those that run educational companies. Not because they want this to work but because they can make more money teaching another class.

AI the same thing. It’s all about the $$$ they can make and not about the integrity of the profession. A lot of kissing and hugging to make sure they look good I. The eyes of others.

 

[Tiffany Gibbons]

I think I would do it for my General, just in case I ever wanted to change things up, but the cost of doing business on your own as a CG is so overpriced, it has to make you wonder if it's even worth it.

As for geo competency, for me that's a no brainer, I came from the commercial real estate analyst side.

PAREA would make sense for upgrading. I was better educated than the CG I got most of my experience with, but I was a CR so at least I could support myself doing residential appraisal while working on commercial narratives, but the CG had to sign off on them and went on every inspection with me, but it really wasn't necessary. I did most of the research and typing of the reports and he paid me a split.