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

[Tiffany Gibbons]

Abandoned? And what doe GSEs have to do with PAREA? I like it because it presents an opportunity to produce real training/experience in a controlled way. It does not leave the trainee at the mercy of how much effort a SA wants to put into actually training the trainee. Most of what I learned about the technical side of appraising was NOT from my first mentor, and I want others to have a path if they find themselves in the same boat.

I think "a path to what exactly?" is what was meant. Since GSEs want to eliminate appraisers.

 

[Tiffany Gibbons]

The house the almost 9,000 sf house I did last week was done with CUBICASA for the listing floorplan...at least that's what it looked like, and guess what, it was wrong, found an error on the second floor that made it smaller.

I had one in a listing the other day, house was a few years old, the Matterhorn was completely the reverse floorplan and the garage was missing completely. They are only what they were meant for, to show potential buyers if a King size bed will fit in the "Primary" Bedroom, etc.

 

[RCA]

Well, if we listen to Elon, his future 10+ billion Optimus humanoids will find this a perfect task for themselves. For humans - not much future.

Understand, I'm for the concept of PAREA - the mentor idea was always bad because they were forever taking advantage of trainees - and still are. But PAREA is too late coming.

This future belongs to the robots ... TAF, the AI and other organizations are already skating on very thin ice. It will break through at some point. - You see, it just keeps getting thinner, year by year. The current "Appraisal System" is living in, to use Musk's words: "la-la-land."

 

[CGinMN]

I definitely disagree with full-scale implementation of PAREA by the states without any sort of real world experience requirement. That said, foreword-thinking individuals will be able take advantage of the new business opportunities it creates, be it in review, mentorship, management, or education. SMEs will probably be at even more of a premium in 5 years. A professional designation will become more valuable. Meanwhile, users will still be able restrict who they do business with, and some will.

 

[NC Appraising]

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.

I disagree. It's the AMCs that are behind this. The education companies are just the benifceries.


Having a bunch of newly day one certified appraisers is AMCs profit stream. $$$.

 

[RCA]

No future: https://www.cnn.com/videos/business...esla-robots-update-cprog-orig-ff.cnn-business
OR BETTER

Musk expects Tesla Bot to be a much bigger business than its cars

As part of its 2023 Investor Day, Tesla has given the world a glimpse of where progress is at with its latest-gen Optimus humanoid robot. Nineteen months since it was first announced, the Tesla Bot is now walking, picking things up and doing basic tasks.

newatlas.com

Tesla's robot is just 7 months old (starting from the first introduction of its prototype 7 months ago) - and it is quickly evolving. It gets a head start in some important ways with the technology developed for self-driving Tesla autos.

Technology is actually going to evolve much faster as time goes on - at a continually accelerated pace. Therefore, mark my word, be careful what kind of career you choose. Inspection can be easily automated away - because the procedures for good inspection are regulated, detailed, complex, and repetitive. Humans will not be able to come anywhere close to competing with robots in this area. Now, given recent progress, I would say it is 10-15 years out - ONLY.

I am working on algorithms that will be far more advanced than what traditional appraisers do. ... The new jobs for humans are at a "higher level".

Do appraisal if you want. But the pay is not high, and the jobs will disappear in 10-15 years. Pretty soon the AMCs will be buying and managing the robots.

 

[DWiley]

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

Yes. As I said in a prior post, if I still had trainees I would definitely put them through the PAREA to augment the training that I provided. I urge you to look at what they are doing. I admit that when waiting for the demo I was anxious about it, but what they put together is really quite good.

 

[shrubberyvaluation]

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.

AMCs want it too. It increases supply of appraisers who will work for cheap and are easier to influence since they don't have much skin in getting the credential.

 

[Ricky LaFleur]

DW, I believe the disdain from appraisers for opening the floodgates to obtaining licensure (with PAREA) isn't merely potential incompetency from the newly licensed. They understand supply and demand. If you remove any difficulty to enter the field, the supply of appraisers will increase greatly, and, as others have noted, they will be able to directly compete with more qualified/experienced appraisers.

Waivers = lower demand. PAREA = oversupply of appraisers. All these two components do is drive down price to the point that no seasoned appraiser will make reasonable compensation for the given investment in education and experience.

 

[shrubberyvaluation]

Yes. As I said in a prior post, if I still had trainees I would definitely put them through the PAREA to augment the training that I provided. I urge you to look at what they are doing. I admit that when waiting for the demo I was anxious about it, but what they put together is really quite good.

And that is what it should be, an augment or preliminary.