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

[Andee]

I have seen a preview. Pretty impressive.

So how do these people get the practical experience of measuring a dwelling? - especially like one I had today, over 6,600 sf, two floors, or one I had last week totally almost 9,000 sf, at 4,234 sf first floor, 2,056 sf second floor, and 2,645 sf walk-out basement. The property I was at today, wasn't so straight forward on the first floor or the second floor.

 

[NC Appraising]

So how do these people get the practical experience of measuring a dwelling? - especially like one I had today, over 6,600 sf, two floors, or one I had last week totally almost 9,000 sf, at 4,234 sf first floor, 2,056 sf second floor, and 2,645 sf walk-out basement. The property I was at today, wasn't so straight forward on the first floor or the second floor.

CUBICASA? Matterport?

 

[NC Appraising]

Spirits of the Appraiser Workforce Past, Present, and Future - Appraisal Buzz

As we exit the holiday season and enter a new year, the “spirits” of the appraiser workforce past, present, and future guide us through a review of the state of the industry.

appraisalbuzz.com

As we begin the new year, Fannie Mae salutes all of those in the appraisal industry that have contributed to bringing new and more diverse entrants in the field, and are working to overcome remaining barriers to entry.

Opteon gets ‘green light’ to move ahead with PAREA | News | Valuation Review

Opteon, a nationwide AMC, is the first privately-held AMC to receive proof-of-concept approval from The Appraisal Foundation Appraiser Qualifications Board. This first-in-industry approval paves the way for Opteon's Practical Applications of Real Estate Appraisal from concept to program...

www.valuationreview.com

Opteon, a nationwide AMC, is the first privately-held AMC to receive proof-of-concept approval from The Appraisal Foundation Appraiser Qualifications Board (AQB). This first-in-industry approval paves the way for Opteon's Practical Applications of Real Estate Appraisal (PAREA) from concept to program development, the company announced in a release.

This is just another way Opteon is leading the charge of innovation,” Opteon CEO Chris Knight said in the release. “Through PAREA, we’re training the next generation of appraisers in an innovative environment. The incoming generation of appraisers will be forward-thinking and inventive—which is exactly what our industry needs.”

Upon completion and appropriate approvals, the program development provides Opteon the ability to better service their lender customers by the expansion of their panel depth in all areas—from urban to the most rural of locations.

Additionally, this opportunity allows Opteon to lend even deeper support to Fannie Mae’s ongoing Appraiser Diversity Initiative efforts, and similar efforts through grants in support of scholarship winners.

 

[Andee]

I have no problem with PAREA expanding to commercial with geographical competency and a license.

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.

 

[Andee]

CUBICASA? Matterport?

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.

 

[EddieB]

I like more education. More the better.

I like that they are going to be trained by someone that actually knows what they are doing. So I have no issue with the AI PEREA program.

My issue is the pass the class and get your certification. There should be some mentorship or a time frame before one can open there on office.

Unfortunately, most appraisers are trained by the local skippy factory that does not give a crap about the industry. These are the same ones who wanted to water down the barrier to entry for personal gains.

That's my whole point. Mentorship is years long, not just while taking classes. I realize good mentorship has lacked in most cases, but less is not better. I love education and despise classes for the hours sake only. That is what we have now to a large extent.

Regardless, I am 8+ years into another career and could not be happier. Constant learning, constant mentorship and a constant paycheck to boot. I have enjoyed the 4-6 fee assignments a month over that span but it's becoming less feasible. I will make a decision this summer when all the renewals come up again

 

[shrubberyvaluation]

I think it looks pretty good myself and I never had an issue with it

But who would want to become a res license appraiser now (or stay in it ), between lower future volume due to Waivers displacing a large volume of work, low pay via AMC's handling a good percent of the business combined with cheaper appraisal products? Why would any younger or mid-aged person of any talent or ability want to do it go through the training now? Some imo will train for it based on misleading information or ignorance and be sorely disappointed when they encounter the reality.

I think the disinformation will attract some. Some unethical will be attracted when a boom starts, especially if the Biden admin or some non profits pay their tuition.

 

[shrubberyvaluation]

Soon enough the AMCs will have on their application if the license was gained through PAREA and they will be targeted for low fees and to take advantage of their inexperience.

 

[Surf Cat]

The lenders killed the old school, mentor bringing trainee into the profession. 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!

Now an unlicensed Uber driver can take a quick online course and be inspecting in no time.

As for the PAREA puppies..... if it really is classroom to certification, they're going to find out real quick that the classroom simulation is going to be worlds apart from actually putting it all together and signing to the certifications to their opinion of value .

 

[shrubberyvaluation]

The lenders killed the old school, mentor bringing trainee into the profession. 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!

Now an unlicensed Uber driver can take a quick online course and be inspecting in no time.

As for the PAREA puppies..... if it really is classroom to certification, they're going to find out real quick that the classroom simulation is going to be worlds apart from actually putting it all together and signing to the certifications to their opinion of value .

Any cookie cutter examples in the class will go to a waiver.