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

[DWiley]

I made a suggestion to them when they first sent this out for comment that they should have a list people willing to mentor but not make it a full mentorship, more like teach them in sections, someone to teach report writing, someone to take you out on inspections, someone that works with you on adjustments, or however they wanted to break it down. This way your exposed to more than one person, more than one style, and people that actually are willing to train you, but it should coincide with what your working on in the PAREA program, and they have to sign off that you actually did it before you can move on.

Perhaps your letter is what inspired AI to do something quite similar in their PAREA program.

 

[Andee]

Is it unique to appraising that all states must offer immediate reciprocity for our licenses?

Not all states have an immediate reciprocity, some require you to take a class specific to their state, some require you to just fill out the paperwork and pay the fee.

 

[Andee]

I just found this on my state licensing boards website...was kind of surprised at 2 specific things stated.

Provider Expectations​

Swinney says PAREA providers must offer training on all topics, provide participants access to data, research, MLS, environmental information, and must ensure their program is accepted in the state. The PAREA program providers are also responsible for providing an adequate number of mentors. However, there is not a geographical competency requirement within PAREA, so mentors do not need to be licensed in the states where they are mentoring participants.

Participant Expectations​

Participants must complete all qualifying education prior to entering a program, be periodically mentored, produce USPAP-compliant appraisals, complete the PAREA program in its entirety before earning the completion certificate, and still pass the national licensing exam. Participants must complete at least a minimum of three USPAP Compliant Reports, but providers can require more reports. Swinney says there will be many iterations of covering items, like highest and best use, sections on each of the approaches, or sections of the approaches.

3 USPAP Compliant Reports...that's it, yet as a regular trainee you complete way more to reach your hours? I'm not sure how many hundreds of reports I did before I got my license, I just know it was a lot, both residential and commercial, on all types of properties, in all types of scenarios.

Are they going to teach them how to deal with distressed assets? - that was my very first appraisal, a foreclosure. What about a trashed out house that needs to be razed, or complex properties, 2-4 family units? I think they need to make this more well rounded so you are exposed to a lot of different things. I may not have liked dealing with my SA because he didn't really like to teach, but I sure was exposed to a huge variety of properties and scenarios. 3 reports won't allow for that type of exposure.

 

[Zoe]

These people just don't get geographical competency. Look for Government to take over GSEs. What is Fannie and Freddie stock price today?

 

[Zoe]

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[Zoe]

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[ucbruin]

Common sense should prevail....
With the examples you listed the new appraiser will take photos and contact the client when back in the office....

 

[Zoe]

Might not be a bad investment. Not sure. Government may pay more than anybody else for GSE stock. Suddenly become GE instead of GSE for just plain G.

 

[Zoe]

Common sense should prevail....
With the examples you listed the new appraiser will take photos and contact the client when back in the office....

Wut? What examples?

 

[Zoe]

Perhaps your letter is what inspired AI to do something quite similar in their PAREA program.

Appraisal Institute hands were tied pretty much. They did drop the ball by being conforming to the system in some regards and respects. But they are only one of many. I can understand that when many of members are knee deep in the system.