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

[Non Sequitur]

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.

Bolding mine.

Glad you mentioned that. Care to guess when the AI publicly releases a fast-track designation path for its PAREA puppies?

 

[Zoe]

Wrong. With qualifying QE the AQB has approved PAREA as a 100% replacement for residential experience credits (certified or licensed path) and for the partial credit allowed in the certified general path. The exam will have to be passed, but that was never really the hurdle to certification.

I guess they go through so many case studies that makes up for the experience credits. Idk.

 

[chad hampton]

So many of the folks in other RE fields don't understand that this completely does away with mentor's or working with a certified appraiser for any amount of time. The concept is so idiotic that most reasonable people can’t even understand it.

But I’m sure whoever came up with this concept has probably been promoted and been given awards. That’s what it’s like in big business and big government, incompetence is rewarded.

 

[shrubberyvaluation]

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.

Designations maybe will become more valuable, its not to AMCs however, they don't care, would prefer the inexperienced.

 

[CommonSense]

PAREA or whatever does it really matter. I don't know 1 Current appraiser who would tell a young person or anyone to become an Appraiser. My daughter asked me about a year ago do I think it's a good idea to become an appraiser and I flat out told her HE** NO. The question I have is would Anyone of you Tell someone to become and Appraiser?

 

[Non Sequitur]

Designations maybe will become more valuable, its not to AMCs however, they don't care, would prefer the inexperienced.

AI will fast track designations for their PAREA grads to gloss over the lack of experience, and they want the revenue stream. More than a few I've talked to think this will stop the bleeding on the residential side at the AI, guess we'll find out soon enough. As far as AMCs, a few are developing their PAREA courses, the AI won't be the only player in town.

 

[BRCJR]

Wonder if one can take out a PAREA "student" loan?

 

[Non Sequitur]

PAREA or whatever does it really matter. I don't know 1 Current appraiser who would tell a young person or anyone to become an Appraiser. My daughter asked me about a year ago do I think it's a good idea to become an appraiser and I flat out told her HE** NO. The question I have is would Anyone of you Tell someone to become and Appraiser?

They will not be recruiting those who know better or those who can ask and get the truth. PAREA will be sold to those with hopes and dreams of bettering themselves. Think real estate sales licensing and the pump and dump education industry behind that.

 

[Non Sequitur]

Wonder if one can take out a PAREA "student" loan?

Good question. From what I gather much of the first round or two, three, etc. will be paid for with grants for minorities, vets, etc. I'm sure there will be loans available at some point.

 

[EddieB]

Before appraising full time, I was a manager of a large small format copy/printing/facility management company. We were smoking and considering going larger. That business model died ten plus years ago and I’m glad I made the transition when I did. Fast forward twenty five years and when I look around I see similar signs.

Over that span, I’ve changed my business model so many times I don’t know what my hair looks like. What the future of appraisal is and especially for res mortgage lending holds is most certainly up in the air. Regardless of what certain folks tell you. We should all know what smoke blown up our glass looks like. But change is the word.