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

[djd09]

the morally corrupt leading the blind

 

[Elliott]

It was interesting today to watch the 'experts' on deep sea exploration who are now coming forward and giving their expertise on why a fused two-piece carbon hull was not a good idea. It may very well be that when the next real estate mortgage implosion occurs they will be asking old, retired residential appraisers for an explanation and who will likely point to PAREA, $50 Hybrids, AVMs, appraisal waivers and equity comparables as reasons for the catastrophic losses.

 

[John Hassler]

If PAREA was a four year program taught by an accredited college/university there would be no qualms. Those institutions have a vested interest in the quality of the education they provide, and have no direct interest in exploiting your skills after graduation. The goals of both student and learning center are aligned.

Conversely, if an AMC were to teach PAREA there is very good reason to be suspect as to the quality of the education. The AMC has a highly vested interest in turning out minimally educated staff for the AMCs personal gain. The goals of the vendor and the student are misaligned.

The answer needs to be somewhere inbetween these extremes and right now the AI seems to fit that bill best. Their potential "exploitation" is limited to pushing students into becoming designated members. Putting aside any opinions of the AI, pushing new licensees towards more education is a positive. The alignment of goals appears sufficient. (Note: I am a former dues paying AI member.)

What I find most concerning is the AQB's "trust us" approach to PAREA. They have been extremely tight lipped regarding the vendor approval process for PAREA. So much so that it is cause for significant concern. I read through and commented on PAREA prior to adoption. I've read the FAQs and submitted questions to the AQB. The AQB has been less than transparent with the criteria for vendor approval, which is concerning. So much so that it's hard to determine if the AQB's goal of PAREA is to produce appraisers or just credential holders.

 

[glenn walker]

Think about it this way the only way the AI survives is to get new fresh blood at the front end of the cycle, welcome them into the club and sell them educations and dues.

 

[John Hassler]

Think about it this way the only way the AI survives is to get new fresh blood at the front end of the cycle, welcome them into the club and sell them educations and dues.

Agreed. But selling them education improves the student/licensee's skillset (but does lighten their wallet).

 

[glenn walker]

Agreed. But selling them education improves the student/licensee's skillset (but does lighten their wallet).

Dont know anything except AI is all over this like White on Rice

 

[Tiffany Gibbons]

The BLS info is not obscure. I learned about their statistical methods by looking up the footnote in the PAVE report.
We're not talking about "Kamala's down and dirty discount appraisal service". This is the VP who has a staff of assistants. Being that she was an AG and a DA she knows about shading facts. I hold people up the food chain to a higher and higher stand. She's near the top and I have high expectations. That's how it works in John world. George world may see this as incompetency or something else entirely.

Along these same John world lines, I am extremely disappointed with the PAVE report. I was expecting an objective and honest analysis with recommendations, if any, addressing true injustices. Instead, most every analysis is shaded in one direction. It's like reading a divorce appraisal where the strengths of a property are understated and the weaknesses overstated (or vice versa). If the PAVE report were held to USPAP standards, the authors should lose their licenses as the analysis is slanted to favor a preconceived client conclusion. It has the appearance that facts were gathered to fill in a prewritten conclusion.

Yes, considering the BLS statistics include "assessors" of property. In Tennessee counties, it's an elected (politically motivated) position. There are some assessors and employees that are licensed, but usually larger counties that have lots of appeals. There is lots of nepotism in state and local government and the deputy assessors or field appraisers dont have to meet minimum AQB standards. Many of these jobs do not even require a high school diploma if you are related to someone important. The BLS stats also include General Appraisers which ARE mostly older white men to get that percentage. Interesting that it's only Residential Appraisers they are worried about.